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 Inc
McEwen Mining (NYSE:MUX) (TSE:MUX) has the goal to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas. McEwen's principal assets consist of: the San José mine in Santa Cruz, Argentina (49% interest); the Black Fox mine in Timmins, Canada; the Fenix Project in Mexico; the Gold Bar mine in Nevada, currently under construction; and the large Los Azules copper project in Argentina, advancing towards development.
McEwen has approximately 345 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns roughly 23% of the shares.
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