Goliath Receives $1,730,882 Through Warrant Exercises, Inclusive Of Crescat Capital A Longtime Strategic And Cornerstone Shareholder
McEwen Braces for 2030 Copper Pivot While Patching Near-Term Gold Production Holes
The most recent news releases from December 2025 focus on a combination of infrastructure milestones and capital support for strategic investments. McEwen Inc. secured a key environmental permit for the El Gallo Mine in Mexico, allowing mill construction to begin in mid-2026 with a first gold pour targeted for mid-2027. Operationally, the company reported significant drill results from the Froome Mine (Fox Complex) and the Gold Bar Mine Complex, both of which suggest potential mine life extensions. Concurrently, Goliath Resources—in which McEwen is a strategic investor—received over $1.7 million through warrant exercises, including participation from cornerstone investors like Crescat Capital and Rob McEwen himself, strengthening the financial position of this key exploration asset in the Golden Triangle.
The news represents a necessary stabilization phase following a highly volatile year. While the permitting of El Gallo is a material positive for the 2027 production pipeline, it must be viewed against the "inexcusable" (as termed by CEO Rob McEwen) production misses and cost overruns reported in Q3 2025. The exploration success at Gold Bar and Froome West is critical because the company is currently facing the end-of-life cycle for its primary production at the Froome Mine. The transition to the Stock Mine is delayed due to permitting, making these interim discovery results vital for bridging the production gap. The continued support of Goliath Resources via warrant exercises de-risks McEwen's $10 million investment in that entity, though it does not provide immediate cash flow to McEwen Inc.’s balance sheet.
McEwen Inc. is a diversified miner with gold and silver production in Nevada, Ontario, and Argentina. Its true flagship, however, is the Los Azules Copper Project in San Juan, Argentina (46.4% owned). Los Azules is one of the world's largest undeveloped copper deposits, with a recent Feasibility Study showing an after-tax NPV (8%) of $2.9 billion. The project aims to produce 99.99% pure copper cathodes using a low-impact heap leach process. The company is currently transitioning its gold operations in Timmins from the Froome Mine to the Stock Mine to eliminate onerous royalties and reduce hauling costs.