Bollinger Bands Expand Upward: McEwen's 15min Chart Indicates Bullish Marubozu

Based on the 15-minute chart of McEwen, there has been a notable expansion of Bollinger Bands upward, accompanied by a bullish Marubozu formation on October 13, 2025, at 11:45. This suggests that the market trend is being propelled by strong buying activity, with buyers firmly in control of the market dynamics. As a result, it is likely that the bullish momentum will persist.

McEwen Mining Inc. (NYSE, TSX: MUX) has released a positive feasibility study for its Los Azules copper project in San Juan, Argentina. The study, released on October 7, 2025, outlines a mid-tier project with a 21-year life, a post-tax net present value (NPV) of $2.9 billion (C$4 billion) at an 8% discount, and an internal rate of return (IRR) of 19.8%, with a payback period of 3.9 years. The project is located in the northwest province of San Juan, at an elevation of 3,500 metres in the Andes mountains McEwen Copper’s Los Azules eyes gain from RIGI^[1].

The feasibility study estimates initial capital costs of $3.17 billion, with average annual cathode production of 148,200 tonnes at $1.71 per pound over the mine's 21-year life. The project is designed to produce 99.9% copper cathodes through an open pit with a heap leaching and solvent extraction and electrowinning (SX/EW) operation McEwen Copper’s Los Azules eyes gain from RIGI^[1]. The mine plan also includes total renewable power through wind, hydro, and solar, aiming for carbon neutrality by 2038 McEwen Inc Announces Positive Feasibility Study for Los Azules Project^[2].

The study's release comes after Los Azules was approved to join Argentina's Large Investment Incentive Regime (RIGI), conferring safeguards against regulatory changes over 30 years, a 10% corporate tax cut to 25%, and a 50% cut to the dividend withholding tax. The project also benefits from accelerated customs and foreign exchange processes and allows for external arbitration in disputes McEwen Copper’s Los Azules eyes gain from RIGI^[1].

McEwen shares gained 6.7% to $26.42 apiece at mid-Wednesday in Toronto, valuing the company at $993.4 million (C$1.3 billion). The stock has traded in a 12-month range of $9.13 to $26.25. The feasibility study estimates average annual cathode production of 148,200 tonnes at $1.71 per pound over the mine's 21-year life, with 204,800 tonnes annually in the first five years McEwen Copper’s Los Azules eyes gain from RIGI^[1].

The feasibility study converted Los Azules’ measured and indicated resources into just over 1 billion tonnes in proven and probable reserves grading 0.45% copper for 10.2 billion contained copper pounds. McEwen estimates construction of the SX/EW could start next year and first copper by 2030 McEwen Copper’s Los Azules eyes gain from RIGI^[1].

The project is designed to produce 99.9% copper cathodes on site with no smelter, using 100% renewable power, 74% less water than conventional milling, and 72% lower mine-to-metal carbon intensity than the industry average. The Environmental Impact Statement was approved in December 2024, and the project was accepted into Argentina’s Large Investment Incentive Regime in September 2025, providing long-term regulatory and financial stability TNR Gold highlights strong project economics in Los Azules Feasibility Study^[3].