Addressing a gathering of institutional and high net worth investors, Rob McEwen, whose former company GoldCorp discovered the World's richest Gold deposit, explained the strategy of McEwen Mining with their current projects in Nevada, Mexico and Argentina.
With a history as the most successful Gold miner in the United States, and possibly the world, Rob McEwen confidently explained to investors the value of investing in Gold rather than currency. In a short period of only 10 years, investors who would have held currency rather than Gold will have seen a loss of purchasing power of over 80% based on the US dollar.
"Today Gold has the lowest opportunity cost in the last 50 years" said Mr McEwen, encouraging investors to look at the statistical performance of Gold, further stating that he believed that Gold will reach US$5000 an ounce in the current cycle.
Mr McEwen announced a "Rights Issue" that will provide capital for the company to quickly progress initiatives to drive the company to expand its potential, and projecting the company will triple Gold production by 2015.
McEwen Mining Inc., is a high growth, low cost mid-tier gold producer in the Americas. Rob McEwen, Chairman & CEO, owns 25% of the outstanding shares. The Company's driving ambition is to qualify for the inclusion in the S&P 500 by 2015.
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About McEwen Mining
The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by 2015 by creating a high growth gold producer focused in the Americas. McEwen Mining's principal assets consist of the San Jose mine in Santa Cruz, Argentina (49% interest); the El Gallo complex in Sinaloa, Mexico; the Gold Bar project in Nevada, US; the Los Azules project in San Juan, Argentina and a large portfolio of exploration properties in Argentina, Mexico and Nevada.
McEwen Mining has 296,024,859 shares issued and outstanding. Rob McEwen, Chairman, President and Chief Owner, owns 25% of the shares of the Company (assuming all outstanding Exchangeable Shares are exchanged for an equivalent amount of Common Shares). As of December 31, 2012, McEwen Mining had cash and liquid assets of approximately US$79 million and is debt free.
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Lake Victoria Mining Company