In July 2021, McEwen Mining established McEwen Copper Inc., a subsidiary owning 100% interests in the Los Azules project in Argentina and the Elder Creek exploration property in Nevada.

Recognised by Whittle for its undervalued potential, McEwen Mining collaborated with Whittle to optimise its Preliminary Economic Assessment (PEA). In September 2022, a strategic investment of USD 10 million was made by a cornerstone investor, Victor Smorgon Group.

In June 2023, McEwen Mining unveiled the updated PEA results for Los Azules, showcasing impressive figures: a $2.7 billion After-Tax Net Present Value (NPV) and a 21.2% After-Tax Internal Rate of Return (IRR) based on copper price assumptions of $3.75 per pound.

The 2023 PEA introduced a revolutionary development strategy, opting for a heap leach project with solvent extraction-electrowinning, leading to significant reductions in water and electricity consumption, emissions, and a remarkable increase in NPV.

In October 2023, major shareholders, Nuton (Rio Tinto) and Stellantis, further invested in McEwen Mining, catapulting the company’s capitalisation from C$240 million to over C$800 million.

This remarkable growth reflects the fund’s shares’ value soaring from US$10 million to US$26 million within just 13 months. Looking ahead, McEwen Copper plans to launch an IPO in 2024/25, marking another milestone in its journey in the mining industry.

Nordic Iron Ore is a mining company in the southern Dalarna region of Sweden whose main goal is to resume mining operations at the previously operational mines Blötberget and Håksberg, and plans to expand to the intermediate Väsman field, which is considered to hold significant potential. Nordic Iron Ore is well positioned in a market where demand for high-grade iron ore concentrate is increasing.

Nordic Iron Ore specialises in the ownership and development of iron ore deposits within the Bergslagen mining district. The company’s mission is to transform these deposits into operational mines with sustainable profitability, catering to the demand for top-quality iron ore products from steelworks across Europe and beyond.

In 2020, Nordic Iron Ore was identified as undervalued through a comprehensive analysis of over 100 mining ventures across three stock exchanges. An optimisation program was initiated alongside an investment in MO stock. Whittle identified significant increases in NPV in early 2021, leading to a favourable market rating. Over the following year, stock positions were gradually exited at a significant premium.