Saturday, 9 September 2017

Tesla Earthquake Aftershock: Lithium Race Ludicrous Mode - China To Ban Sale Of Fossil Fuel Cars In Electric Vehicle Push.




Bloomberg reports groundbreaking news from China. The government will set up the deadline for automakers to end sales of all fossil fuels powered vehicles. Electric Cars are unstoppable now and after Tesla Earthquake The Tsunami of Electric Cars is coming.


Now we have a better understanding why Ganfeng Lithium: JV partner of International Lithium - was going vertical last few months. This kind of news is traveling very fast in the state corridors of power in China. This geopolitical move will have very wide political and economic implications as we have discussed it here for a long time. China is very well positioned to take the lead now and the ICE Age Of Oil is officially over.





Lithium Race And Tesla Earthquake Aftershock: Coming Electric Cars Tsunami - Electrification Of China And India.



Lithium Race And Tesla Earthquake Aftershock: Coming Electric Cars Tsunami - Electrification Of China And India.

Kirill Klip, Executive Chairman International Lithium Corp.


International Energy Agency is finally seriously promoting electric cars. This brilliant infographic gives us the sense of what is really happening in the EV space now. I will give you another headline: "Tesla Earthquake Aftershock: Lithium Supply Chain Market Is Not Even Close To Being Ready For The Coming Electric Cars Tsunami.- translation is on the links below on my blog. I will help your research with another digest. Energy rEVolution is very hard to miss now, but the intensity of continued Oil and ICE Age auto-lobby disinformation propaganda tells me that serious money is still to be made in this Next Industrial rEVolution. 

The Lithium Technology is here. It took all humankind history to reach 1 million electric cars on our roads by 2015 and then just over a year to double it to 2 million units in the EV fleet in 2016! This is called exponential growth and we are at the very beginning of it. We have just crossed 1% of electric cars sales share for worldwide auto sales and electric cars are still just 0.2% of the total number of cars in the world. We have a long way to go to all new cars being electric, but it can be much faster than a lot of people think: Lithium Race At IMF: "Electric Cars Can Replace Motor Vehicles In The Next 10 To 25 Years."





Norway already has a 29% share of electric cars sales;
Netherlands - 6.4%; 
Sweden - 3.4%; 
China, France, UK - 1.5% (each);
U.S. - 1.4%.

Now with an introduction of Tesla Model 3, this growth in EV sales will be dramatically accelerated. Tesla Model S and X comprise 45% of all electric cars' sales in the US this year! They are the best electric cars, but also the most expensive. Somebody has put it brilliantly about Tesla Model 3: "We had the best electric cars and we had the affordable electric cars. Now we have the best affordable electric car"The other more than 200 models of electric cars coming by 2020 will do the rest.





Electrification of China and India will drive the next phase of the worldwide growth in EV fleet. India has announced that all new cars on sale will be electric by 2030and they are taking it seriously making the first tender for 10,000 EVs to be supplied for the government ministries and agencies now. Transfer of the best technology for Lithium Batteries and Electric Cars will be next. China is already The Centre of The Lithium Universe and exercises its state-level New Energy Plan step by step with the military discipline, starting with securing a Lithium Supply Chain.

IEA reports that in 2016, China accounted for more than 40% of the electric cars sold in the world, with 336,000 new cars registered. That is more than double the number sold in the U.S. China also has the largest electric car stock, with about a third of the global total EV fleet. But EVs are more than just electric cars: China has more than 200 million electric two-wheelers, 3 to 4 million low-speed EVs and 300,000 electric buses. The next fast growing sector will be electric trucks, like the ones produced by BYD. BYD is backed by Warren Buffett with his 10% stake and is the largest EV maker in the world at this moment, but Tesla is expected to overtake this company in the number of electric cars produced per month by the end of this year.






BYD is very proud to be back on the wave in China in July with over 11k EVs sold, it gives us over 130k per year EVs sold annualized. Elon Musk is talking about the rate of production with 20k Teslas per month by the end of this year and over 500k per year by the end of 2018. Tesla has more than 400,000 reservations for its Model 3. Now Elon Musk estimates the demand for Tesla Model 3 at 700,000 per year. 






We have The Switch in action when millions will be choosing electric cars. Bloomberg is forecasting that we will be able to choose from 200 EV models by 2020 and Elon Musk is "thinking hard" where to build Gigafactories 3,4,5 and 6. The market is not even close to the proper translation of what kind of EV tsunami is coming and how it will affect the demand for lithium and other energy metals.

LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

All latest information is available in Company's filings on SEDAR www.sedar.com




Lithium Hydroxide Production From Brine: Effective Separation Of Lithium From Contaminants By Membrane Technology.




Lithium Hydroxide Production From Brine: Effective Separation Of Lithium From Contaminants By Membrane Technology.

Kirill Klip, Executive Chairman International Lithium Corp.


We are talking here a lot about the new groundbreaking technologies for electric cars and lithium batteries. Now it is time to consider the most advanced technologies for the production of lithium as a raw material. The increasing usage of lithium batteries is driving the demand for lithium as a raw material and new extraction technologies will provide the technological advantage to the most progressive companies investing in the future.

My lower estimate for future demand is that 36 million tonnes of LCE (Lithium Carbonate Equivalent) must be produced by 2040 in order to meet the IEA's target for the 600 million electric cars necessary to keep global temperature increase below 2%. However, over 100 million tonnes of LCE will be needed if all new cars are to be electric by 2040, this being one of IMF's scenarios for the future. Now let's just start adding here the Energy Storage for Solar and Wind Power Generation.

Our starting point for electric cars is just over 1% of total auto sales in the world and only 200,000 tonnes of LCE produced in 2016. The dramatic increase in demand for lithium will require accelerated production from all known reserves of lithium and new resources will need to be found and put into production, this being crucial to the Energy rEVolution.

At International Lithium, we are very interested in processes developed for the recovery of Lithium Hydroxide directly from brine. Lithium Hydroxide is the highly sought strategic commodity which is used in lithium batteries as Tesla and Panasonic are doing for example at Tesla Gigafactory.  Read more.

LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.



All latest information is available in Company's filings on SEDAR www.sedar.com




Bloomberg:

China To Ban Sale Of Fossil Fuel Cars In Electric Vehicle Push.

  • Regulators are working on a timetable of the ban, Xin says
  • China joins U.K., France to phase out combustion-engine cars
China will set a deadline for automakers to end sales of fossil-fuel powered vehicles, a move aimed at pushing companies to speed efforts in developing electric vehicles for the world’s biggest auto market.
Xin Guobin, the vice minister of industry and information technology, said the government is working with other regulators on a timetable to end production and sales. The move will have a profound impact on the environment and growth of China’s auto industry, Xin said at an auto forum in Tianjin on Saturday.
A ban on combustion-engine vehicles will help push both local and global automakers to shift toward electric vehicles, a carrot-and-stick approach that could boost sales of energy-efficient cars and trucks and reduce air pollution while serving the strategic goal of cutting oil imports. The government offers generous subsidies to makers of new-energy vehicles. It also plans to require automakers to earn enough credits or buy them from competitors with a surplus under a new cap-and-trade program for fuel economy and emissions.
Honda Motor Co. will launch an electric car for the China market in 2018, China Chief Operating Officer Yasuhide Mizuno said at the same forum. The Japanese carmaker is developing the vehicle with Chinese joint ventures of Guangqi Honda Automobile Co. and Dongfeng Honda Automobile Co. and will create a new brand with them, he said.
Internet entrepreneur William Li’s Nio will start selling ES8, a sport-utility vehicle powered only with batteries, in mid-December. The startup is working with state-owned Anhui Jianghuai Automobile Group, which also is in a venture with Volkswagen AG to introduce an electric SUV next year.
China, seeking to meet its promise to cap its carbon emissions by 2030, is the latest country to unveil plans to phase out vehicles running on fossil fuels. The U.K. said in July it will ban sales of diesel- and gasoline-fueled cars by 2040, two weeks after France announced a similar plan to reduce air pollution and meet targets to keep global warming below 2 degrees Celsius (3.6 degrees Fahrenheit)."

Energy rEVolution And Elon Musk's Grand Plan To Power The World With Lithium Batteries Fully Charged: Tesla Powerwall 2.



The most interesting in this brilliant video from Fully Charged is that solar panels and Tesla Powerwall 2 are working perfectly well even in the UK. The message is very simple: the world is going to the Distributed Energy Generation and lithium batteries make it possible. By the way, if you are lucky to have your own house you will need 2 lithium batteries in your household in the future: one for your electric car and another one for your solar system. You will start saving money from the day one, but the initial capital investment will be still very significant for the majority of people. 

The real mass market adoption will come once you will be able to buy your Solar System, Lithium Battery and Electric Car all in one package and "pay as you" with quarterly payments which will be lower than you are spending now on electricity and your car. This future is very close now and Tesla has everything ready to take the market by the storm once they are ready for mass production of Tesla Model 3, Powerwalls and Solar Roofs. We have Elon Musk's Grand Plan To Power The World With Batteries in action.



My lower estimate for future demand is that 36 million tonnes of LCE (Lithium Carbonate Equivalent) must be produced by 2040 in order to meet the IEA's target for the 600 million electric cars necessary to keep global temperature increase below 2%. However, over 100 million tonnes of LCE will be needed if all new cars are to be electric by 2040, this being one of IMF's scenarios for the future. Now let's just start adding here the Energy Storage for Solar and Wind Power Generation. 
Our starting point for electric cars is just over 1% of total auto sales in the world and only 200,000 tonnes of LCE produced in 2016. The dramatic increase in demand for lithium will require accelerated production from all known reserves of lithium and new resources will need to be found and put into production, this being crucial to the Energy rEVolution.
At International Lithium, we are very interested in processes developed for the recovery of Lithium Hydroxide directly from brine. Lithium Hydroxide is the highly sought strategic commodity which is used in lithium batteries as Tesla and Panasonic are doing for example at Tesla Gigafactory.  Read more.




Elon Musk TED Talk: We Need 100 Gigafactories To Go 100% Renewable Energy And Tesla Will Announce 3 or 4 This Year.





Elon Musk was making his Ted talk recently in Vancouver and you can experience his ability to distort reality in our Lithium Universe first hand. Among very many mind-boggling ideas he reiterated that we will need 100 Tesla Gigafactories to move to 100% Renewable Energy for the whole world and Tesla will announce 3 or 4 new Gigafctories this year! 






Tesla Officials Visit Argentina’s Governor Of Salta For Solar And Storage Projects And Sourcing Lithium.





ElectTrek reports that "salt on the salad'": this is how Elon Musk has described lithium before - must be very important for Tesla's digestive system after all. I am writing here extensively about the coming control of the Lithium supply by Chinese companies who are very aggressively buying all the best lithium projects worldwide. It is very difficult to pretend anymore that any lithium will be coming from any signed by Tesla agreements with some junior miners in the nearest future. Lithium cathode is still produced by Panasonic for Tesla Gigafactory. Read more




Another part of this story is the rising price of lithium in China again. Last year we have seen only 14% rise in lithium supply and prices have increased by 74%. In December, Benchmark Minerals has reported that LCE (Lithium Carbonate Equivalent) was priced below $15k/T and Lithium Hydroxide (the particular lithium based chemical which is used in Tesla batteries) was around $18k/T. Last week I have received reports that in Shanghai LCE was priced at $18k/T and Lithium Hydroxide was at $22k/T. Today there are reports that LCE is already pushing $19k/T. It is all happening just before 4 major Lithium batteries Megafactories will be coming online in China this year and Tesla will move into the mass market stage with the production launch of Tesla Model 3 in July.





As you know, I have been preaching for years that security of lithium supply will be the most important factor determining the competitive advantage among different producers of critical raw materials for the Energy rEVolution. This Lithium Race will have the very far-reaching geopolitical implications. Now it looks like that Tesla is realizing that there is no secure supply of lithium for its massive expansion of operations from the underneath of Gigafactory floor in Nevada. Even if Panasonic is producing cathode for lithium cells which are made at Tesla Gigafactory in Nevada the supply chain is going all over the globe and back to China.





The real test to the market and supply chains for Energy rEVolution will come with the coming tide of Electric Cars and the following tsunami of Energy Storage. Bloomberg has recently reported that there will be more than 120 models of electric cars by 2020 and you should not be surprised as we have discussed here before that there are more than 70 models of electric cars on sale in China already. The next few years will determine who will have the keys to the new Energy rEVolution and control the supply chains. Hungry Dragons are flying high already and mostly in China, the question remains who and how will feed them without fear of being burnt in the process. 




Friday, 8 September 2017

TNR Gold: Copper Shines Brightly For McEwen Mining - Enhanced Economics Of Los Azules, Copper Resources Are Up From 19B lb to 29.5B lb.






McEwen Mining has released a very impressive new PEA on giant Los Azules Copper project located in San Juan, Argentina. Please note all disclaimers and that all this information is from public sources released by McEwen Mining. TNR Gold holds 0.36% NSR royalty on the entire Los Azules project. Rob McEwen has done a great job and Los Azules Copper now is even larger than before:

New Resources in all categories reported by McEwen Mining:

1. Copper is up from 19B lb to 29.5B lb - plus 55%
2. Gold is up from 3.42B lb to 5.5B lb - plus 61%
3. Silver is up from 108.7 Moz to 191.1 Moz - plus 76%

The quality of resource has improved as well, according to McEwen Mining:

Copper before was 28% Indicated to Inferred

Copper now is 53% Indicated to Inferred.


$2.2 Billion After-Tax NPV@8% and IRR of 20.1%


3.6 Year Payback at $3.00/lb. Copper and 36 Year Mine Life
415 Million lbs. Average AnnualCopper Production For The First 10 Years
$1.11/lb. Copper Average Cash Production Cost (C1) For First 10 Years


 Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this article; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.



TNR, through its lead generator business model, has been successful in generating high quality exploration projects in the Americas and Europe. With the Company’s expertise, resources and industry network, it identified the potential of the Los Azules copper project in Argentina and now holds a 0.36% NSR Royalty on the prospect.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.
TNR is a major shareholder of International Lithium Corp. (TSXV:ILC) (“ILC”), a green energy metals company that was created through the spinout of TNR’s energy metals portfolio in 2011.  ILC holds interests in lithium projects in Argentina, Ireland and Canada. TNR continues to hold approximately 15% of the outstanding shares of ILC.
TNR retains a 1.8% NSR Royalty on ILC’s Mariana lithium property in Argentina. ILC maintains a right to repurchase 1.0% of the NSR on the Mariana property. The Company would receive $900,000 on exercise of the repurchase right. The project is being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd., a leading lithium product manufacturer seeking to secure its raw materials supply.

LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.



Green Energy Metals Royalty Company: TNR Gold Provides Update Of Activities.






Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this article; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.




McEwen Mining:

Copper Shines Brightly for McEwen Mining - Enhanced Economics of Los Azules

09/07/2017
$2.2 Billion After-Tax NPV@8% and IRR of 20.1%


3.6 Year Payback at $3.00/lb. Copper and 36 Year Mine Life
415 Million lbs. Average AnnualCopper Production For The First 10 Years
$1.11/lb. Copper Average Cash Production Cost (C1) For First 10 Years
TORONTO, Sept. 07, 2017 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce the results of a new Preliminary Economic Assessment (PEA) on its 100% owned Los Azules Copper Project. The results of the 2017 PEA demonstrate that Los Azules is a robust, high margin, rapid pay-back, and long-life open pit mine at current copper, gold and silver prices.
The 2017 PEA was prepared by Hatch Ltd., a global multidisciplinary management, engineering and development consultancy known for leadership in mining innovation, under the direction of Donald Brown C. P. Eng (Senior Vice President of Projects for McEwen Mining) with contributions from other industry specialists.
The reforms introduced by the government of Argentina under the leadership of President Macri to encourage mining investment by eliminating taxes on exported mineral concentrates was a key factor driving the new PEA for Los Azules.
“Los Azules is a giant porphyry copper deposit that offers tremendous potential to generate wealth for McEwen Mining shareowners and other stakeholders,” said Rob McEwen, Chairman and Chief Owner. “Our next steps are to advance permitting and prefeasibility/feasibility studies to move Los Azules towards production.”
Los Azules is located in the San Juan Province of north-western Argentina. The 2017 PEA is a substantial revision of the previous 2013 PEA and contemplates an enhanced implementation strategy resulting in improved economics while reducing execution risk. It envisions an owner-operated mine and conventional concentrator (flotation circuit) producing a copper concentrate for export. A phased implementation approach is employed to optimise initial capital expenditure. Phase 1 implementation will have a daily throughput of 80,000 tonnes per day (tpd), and Phase 2 will deliver a 50% increase in the processing rate to 120,000 tpd. The process design has been modeled on the flowsheet and implementation of the recently constructed and operating Antapaccay (Glencore) copper concentrator located in the high Andes of Peru. Antapaccay shares many key characteristics with Los Azules, making it an obvious choice upon which to model the proposed infrastructure.
Using the assumptions of $3.00/lb copper, $1,300/oz gold, and $17/oz silver, the Los Azules project generates a robust after-tax Net Present Value (NPV) discounted at 8% of $2.2 billion and an Internal Rate of Return (IRR) of 20.1%. The project economics for Los Azules contemplates two years of permitting, drilling, and feasibility studies; followed by a three year project implementation phase for production of the first copper concentrates. The economic values presented in the 2017 PEA are after-tax financial outcomes at the point of commencing the project implementation phase. The key financial results are summarized in Table 1 and Figure 1.
Table 1: After-tax Financial Results
ParameterUnit          2017 PEA Result          
Initial CAPEX          $ millions          2,363
Phase 2 CAPEX$ millions278
NPV8%$ millions2,239
IRR%20.1
Payback PeriodYears3.6
C1 Costs1 (first 10 years)                    $/lb.1.11
C1 Costs1 (Life-of-mine)$/lb.1.28
1C1 cash costs include at-mine cash operating costs, treatment and refining charges, mine reclamation and closure costs, and copper concentrate transportation.
Mineral Resource EstimateThe estimated mineral resources for the Los Azules deposit are shown in Table 2. Mineral resources are determined using a base case cut-off grade of 0.20% copper, which is based on projected technical and economic parameters.
Table 2: Estimate of Mineral Resources for Los Azules Deposit (0.20% Cu Cut-Off)
Average GradeContained Metal
CategoryMillion
   tonnes  
Cu
%
Au
g/t
Mo
%
Ag
g/t
Cu   Billion lbs.  Au   Million oz.  Mo   Million lbs.  Ag   Million oz.  
   Indicated  962   0.48     0.06     0.003     1.8  10.21.757.355.7
Inferred2,6660.330.040.0031.619.33.8194.0135.4
Cu = copper, Au = gold, Mo = molybdenum, Ag = silver
The mineral resource estimate for Los Azules was prepared utilizing three-dimensional block models based on geostatistical applications. The mineral resources are estimated using ordinary kriging with a nominal block size of 20 m x 20 m x 15 m. To ensure the reported resource exhibits reasonable prospects for economic extraction, the mineral resource is limited within a pit shell generated around copper grades in blocks classified in the Indicated and Inferred categories. Generalized technical and economic parameters include a copper price of $2.75/lb., site operating costs of $1.70/t for mining, $5.00/t for processing and $1.00/t for general and administration, a pit slope of 34° and 90% metallurgical recovery.
MiningThe life-of-mine (LOM) ore tonnage is estimated to be 1,488 million tonnes of concentrator feed and 1,510 million tonnes of waste stripping. The stripping ratio, including stockpile re-handling, is projected at 1.05 (tonnes of waste per tonne of sulfide ore milled). Excluding the three-year preproduction period, the mine life is estimated at 36 years.
The concentrator feed during the first five years of operation is predicted to have a higher average grade of 0.73% copper. These grades are approximately double the average grades in the later years of mining (after Year 20). In the first five years of mining, 93% of this initial mill feed is presently classified as Indicated mineralized material and the remaining 7% is Inferred mineralized material.
The 2017 PEA is preliminary in nature. The mine plan and economic model include the use of Inferred resources. Inferred resources are conceptual in nature and are considered to be too speculative to be used in an economic analysis except as allowed for by Canadian Securities Administrators' National Instrument 43-101 (NI 43-101) in PEA studies. There is no guarantee that Inferred resources can be converted to Indicated or Measured resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability. As such, there is no guarantee the project economics described herein will be achieved.
ProcessingPreliminary metallurgical test work has been conducted intermittently since 2008 to determine how the mineralized material responds to flotation as a means of recovering payable copper metal. Results have consistently proved favorable and flotation has been adopted as the processing option of choice.
The Los Azules concentrator will produce copper concentrate as a final product. The process flowsheet has been modeled on the Antapaccay copper concentrator (Glencore - Peru) due to similarities in ore properties and process plant altitudes. Some minor design changes, in equipment sizing only, have been incorporated based on operating experience at Antapaccay. The plant has been designed for average daily throughput of 80,000 tpd. The concentrator would be constructed on-site and would employ one comminution circuit consisting of a primary crusher, stockpile feed conveyor, reclaim conveyor, one SAG mill, two pebble crushers and two ball mills. The comminution circuit would be followed by flotation, thickening and filtration circuits, a Tailings Storage Facility (TSF) and concentrate storage. LOM recovery of copper to concentrate is expected to be 91% at a concentrate grade of 30% Cu.

It is planned to expand the capacity of the plant to 120,000 tpd by Year 5 through the installation of additional comminution and flotation capacity. 
Gold and silver are recoverable to the copper concentrate. No other metals have been identified that would yield by-product credits, nor that have significant amounts of penalty elements. 

Capital CostsA key desired outcome of this study was to provide a project capital estimate with a reasonable level of accuracy. A summary of the initial capital estimate is provided in Table 3.
Table 3: Capital Cost Estimate
AreaCAPEX   ($ Millions)  
Mining Equipment$215  
Mine Pre-stripping Cost$193  
Surface Scope (Concentrator, Power Line, Tailings, etc.)          $979  
Total Direct Cost$1,387  
Total Indirect Costs$508  
Contingency$420  
Owner’s Cost$48  
Total Initial Capital Cost$2,363  
Operating CostsThis updated PEA for the Los Azules project has a total operating cost of $15.4 billion over the life of the mine. Table 4 displays the operating cost summary.
Table 4: Operating Cost Estimate
Cost AreaLOM
   ($ millions)  
   $/t Mill Feed     $/t Cu     $/lb. Cu  
Mining5,4043.639800.44
Process5,7743.881,0470.47
Transport2,5871.744690.21
G&A1,6201.092940.13
Subtotal OPEX15,38510.342,7891.26
TCs/RCs2,6841.804870.22
   Au & Ag Credits  (2,449)(1.65)(444)(0.20)
Net Costs15,62110.502,8311.28
PEA ContributorsA summary of the qualified persons responsible for the report is provided in Table 5.
Table 5: Summary of Qualified Persons
Responsible PersonCompanyPrimary Areas of Responsibility
D. Brown, C. P. EngMcEwenMining, Project Infrastructure, Geology
M. Bunyard, C. Eng, FAusIMM    Hatch LtdMetallurgical, Process Plant
B. Davis, FAusIMMBD Resource Consulting, Inc.    Sampling, Data Verification, Resource Estimates    
J. Duff, P. GeolMcEwenGeology, Exploration
R. Duinker, P. Eng, MBAHatch LtdFinancial Analysis
J. Farrell, P. EngHatch LtdEnvironmental
W. Rose, P. E.WLR Consulting Inc.Mining
K. Seddon, CPEngATC WilliamsTailings
R. Sim, P. GeoSIM Geological Inc.Drilling, Resource Estimates
The Canadian National Instrument 43-101 (“NI 43-101”) technical report containing the results of the updated PEA, with the effective date of September 1, 2017, will be filed on SEDAR and the Company’s website within 45 days of this press release. All tables and figures in this release have been obtained from the PEA.
About McEwen Mining (www.mcewenmining.com)McEwen Mining has the goal to qualify for inclusion in the S&P 500 Index by creating a high growth gold and silver producer focused in the Americas. McEwen Mining's principal assets consist of the San José mine in Santa Cruz, Argentina (49% interest), the El Gallo Gold mine and El Gallo Silver project in Mexico, the Gold Bar project in Nevada, the Timmins projects in Canada and the Los Azules copper project in Argentina.
McEwen Mining has a total of 312 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 25% of the Company.
QUALIFIED PERSON
Technical information contained in this news release has been prepared under the supervision of Mr. Donald Brown C. P. Eng., who is an officer of the Company, and a "qualified person" within the meaning of NI 43-101.
An independent qualified person manually verified the geologic database supporting the resource estimate by randomly selecting drill holes and verifying the data back to the original source. No significant errors were found.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks related to fluctuations in mine production rates, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, the ability of the Company to obtain financing, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. The Company’s dividend policy will be reviewed periodically by the Board of Directors and is subject to change based on certain factors such as the capital needs of the Company and its future operating results. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.

CONTACT INFORMATION:

Mihaela Iancu
Investor Relations
(647) 258-0395 ext 320
info@mcewenmining.com

Website
www.mcewenmining.com

Facebook
facebook.com/mcewenrob

Twitter
twitter.com/mcewenmining

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Suite 2800,P.O. Box 24
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M5H 1J9
(866) 441-0690
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Source: McEwen Mining"


Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this article; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.