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2022-05-06 19:29 ET - Market Summary
by Stockwatch Business Reporter
Rob McEwen's McEwen Mining Inc. (MUX), which lost four cents to 80 cents on 333,000 shares, is running out of time to save its New York Stock Exchange listing. It has until early July to get its share price and 30-day average close above $1 (U.S.).
Today, McEwen Mining shuffled its management. Anna Ladd-Kruger is leaving her job as chief financial officer to "focus on her health and family," while Peter Mah, chief operating officer, is stepping down for (perhaps more) personal reasons. Perry Ing will be interim CFO and Bill Shaver will oversee operations. Mr. McEwen, chief executive officer, and the board are preparing a transition plan and a hunt for replacements.
In the meantime, Mr. McEwen found comfort in a warm blanket of jargon, noting that the company's focus "going forward is on stabilizing its operations after a challenging period, divesting certain assets, and advancing our most significant value driver, the giant Los Azules copper project, towards key milestones." The first of those keys to turn, or perhaps milestones to pass, will be an update of a now five-year-old preliminary economic assessment.