MUX : Buy A World-Class Copper Project, Get Gold Upside For Free

Joffrey Simonet172 FollowersFollow5ShareSavePlay(37min)CommentsSummaryMcEwen Inc. offers a compelling risk-adjusted opportunity, anchored by its world-class Los Azules copper project.The Los Azules project design makes it a uniquely ESG-differentiated asset, which is translating into blue-chip strategic investor support and immensely derisks the project financing.The combination of meaningful exploration potential and Rio Tinto's Nuton technology could make Los Azules a flagship 21st-century mine with premium pricing power for its low-carbon copper.The current valuation entirely discounts numerous upside sources and MUX's entire gold business.Near-term catalysts include McEwen Copper’s IPO and the FID expected in Q4 2026. temizyurek/E+ via Getty Images McEwen Inc. (MUX) is a fascinating investment story that offers a multi-bagger opportunity over the next 5 years. The crown jewel of this company is its flagship Los Azules project in Argentina, the 10th largest copperThis article was written byJoffrey Simonet172 FollowersFollowI am an individual investor with a background in corporate financial analysis, macroeconomics and policy, managing my own long-only portfolio for over 5 years. I invest across the value-growth spectrum, from deep value to early stage tech stocks, but with an overall high exposure to semiconductors, AI compute/infrastructure, and emerging technologies. My investment horizon is long-term. I let my winners compound as I believe in the wisdom of continuing to own great companies for as long as they remain great. As for my losers, I generally allow my thesis to play out at least a year, absent any dramatic event that would put said thesis in question. Due to my background, I tend to pay particular attention to long-term geopolitical and macro trends that will provide tailwinds to specific investment themes, and orient my portfolio based on those tailwinds. These also help me maintain conviction as a buy-and-hold investor during market volatility. Mastering ones own emotions is a part of the investing journey, I hope you will join me for the ride.Analyst’s Disclosure: I/we have a beneficial long position in the shares of MUX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.