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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (9865)	7/6/2015 9:47:57 AM
From: Goose94	Read Replies (1) of 202924

Rob McEwen's McEwen Mining Inc. (MUX-T) slipped four cents to $1.17 on 26,000 shares after receiving a warning from the New York Stock Exchange. Stocks listed on the NYSE must close at an average price of $1 (U.S.), calculated over the past 30 consecutive trading days, or they risk being delisted. McEwen has closed at an average of 96.7 U.S. cents over the past 30 trading days, which means the company has until Jan. 1, 2016, to fix the problem. In response, Mr. McEwen points out that McEwen's shares are undervalued. He blames the low price on a decline in gold and silver as well as a general reduction in financing options. If the company is delisted, it will be even further from its main goal: qualifying for the S&P 500 Index. Hopes of making the index were one of the main reasons Mr. McEwen merged his Minera Andes Inc. and U.S. Gold Corp. in late 2011. The merged company has met six of the seven index criteria so far, but the final criterion will be the most difficult. McEwen needs a market capitalization of at least $5.3-billion. At today's 300 million shares outstanding, this means a share price of $17.63.

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