McEwen Mining will become a reality after the Merger of US Gold Corp (UXG) and Minera Andes (MNEAF) Jan 19, 2012.
The CEO of McEwen Mining is Mining Legend Rob McEwen. He is the founder and former Chairman and CEO of Goldcorp Inc. (GG) which is, by market capitalization, the second largest gold producer in the world. Since 1993, when Rob started restructuring Goldcorp Inc., its market capitalization grew from $50 Million to over $8 Billion and its share price increased at compound annual rate of growth of 31%.
______ CEO Rob McEwen _____
Rob believes that management should be as personally invested in a company as its shareholders, and as such he owns 20% of US Gold Corporation, 30% of Minera Andes Inc., 27% of Lexam VG Gold Inc.'s shares, and receives no salary. He believes in providing Shareholder Value. Rob purchased all his shares and makes money the same way as the Shareholders.
After leaving Gold Corp Rob McEwen bought US Gold and has bought several gold companies in Nevada Gold Trends to create an excellent Land Package of Exploration Properties, currently the GOLD Bar property will come into production during mid-2012, with an initial production of 50,000 ounces of Gold per year.
US Gold's land holdings total approximately 1,600 square miles. This includes 260 square miles in the State of Nevada, of which 170 occur along the Cortez Trend. The company also holds 1,400 square miles Sinaloa State, Mexico where US. Golds El Gallo Complex will be producing 5M ozs of low cost silver per year. El Gallo is a Pure Silver Mine, not Silver as a byproduct. It will be one of the ten largest Pure Silver Mines once in production. Also Phase 1 of the El Gallo Complex is the Magistral Gold Mine. Phase 1, which will commence in mid-2012, will focus on the permitted satellite gold deposits at the project and is expected to produce 30,000 ounces of gold per year after initial ramp up. This decision is expected to generate cash flows approximately two years earlier than originally planned.
The US Gold Corp Merger with Minera Andes in (MNEAF) will add significantly to McEwen Mining. Minera owns 49% of the San Jose Mine in . 2010 Production: Silver–5.3 million oz, Gold 84,000 oz.
San José is an underground mine located approximately 20 km north of Goldcorp’s Cerro Negro project in the northwest corner of the Deseado Massif region of Santa Cruz Province, Argentina. Minera also owns some excellent exploration property that surrounds Gold Corps Cerro Negro Property on 3 sides.
San Jose Sq. 562 Mi
Loz Azules 79 sq miles - World Class Copper Mine with 12 Billion tons of Copper in the Andes Mountains, not yet in production,
Exploration 192 Sq. Mi
Total = 863 Sq Miles
The combined company will be a low-cost, mid-tier silver producer with a strong balance sheet, an income stream, a producing silver gold mine, a development pipeline of two silver and gold mines in Mexico and Nevada, and production out of Argentina. In June 2011, if you combined the treasuries, there would be more than $120 million (M) in cash, no debt, and trade liquidity on the NYSE.
US Gold is the only Gold Exploration Company on the NYSE
US Gold's goal is to qualify for inclusion in the S&P 500 by 2015, which takes a Market Cap of $6 Billion.
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