McEwen Mining (TSX: MUX) appears to be facing some challenges when it comes to its listing on the New York Stock Exchange. The company has evidently fallen below the minimum listing requirements for the US big board.
The firm has come short of listing requirements following the equity trading below US$1.00 on the exchange for a period of 30 days on average. The shortcoming is as of January 5, 2022.
McEwen Mining now has up to six months to correct the deficiency, or risk losing its listing on the exchange. The firm has indicated it “intends to take steps to regain compliance,” however the company did not elaborate further. Specifically, it did not indicate whether it would consider conducting a share consolidation, which is the easiest method of regaining compliance.
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The firms shares have been sliding since its posted its third quarter financial results in early November, when the company posted revenues of $37.1 million and a net loss of $17.4 million.
McEwen Mining last traded at $1.15 on the TSX.
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