McEwen Mining Inc
0.0 %
33.39 %
Yet to be announced
Company Overview
McEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver deposits. It primarily owns a 100% interest in the Gold Bar mine in Eureka County, Nevada; the Black Fox gold mine in Ontario, Canada; the El Gallo Project and Fenix silver-gold project in Sinaloa, Mexico; the Los Azules copper deposit in San Juan, Argentina; and a portfolio of exploration properties in Nevada, Canada, Mexico, and Argentina.
Revenue Sources
McEwen Mining's revenue is derived primarily from mining operations, specifically the extraction and sale of gold, silver, and copper. These are permissible activities from an Islamic finance perspective as they involve the extraction and sale of real assets. There is no evidence of revenue from prohibited sources such as alcohol, gambling, or interest-based financial services.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $52.25m | $53.43m | - | $1.08m | 0.00% | 2.03% |
| June 30, 2024 | $47.48m | $63.16m | - | $1.73m | 0.00% | 2.75% |
| March 31, 2024 | $41.23m | $64.08m | - | $870,000 | 0.00% | 1.36% |
| Dec. 31, 2023 | $58.68m | $107.51m | - | $1.45m | 0.00% | 1.35% |
Looking at the last four quarters of financial data, the company's interest expenses were consistently low relative to total expenses. The interest expense ratios ranged from 1.4% to 2.7% of total expenses across the quarters analyzed. Since these ratios are consistently below 5%, the company passes this criterion.
Operational Ethics
Based on available information from SEC filings and company reports, McEwen Mining's operations are primarily in North and South America (USA, Canada, and Argentina). There is no evidence of current material business relationships with Israel or the Chinese Communist Party.
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