Paper reports today suggest McEwen will reduce divi payouts to between 65 & 75 % rather than the still fairly high 80%. This would be coupled with a CR, significant capital spend and a ramp up of cost cutting.
Good idea for McEwen to get all in train now and while the dividend reduction may result in lots of pessimism a full "transformation" will underpin a brighter future.
Not good news in the short term and would expect SP to just bob around until some clear results from a leaner, more efficient bank is evidenced.
Paper reports today suggest McEwen will reduce divi payouts to...
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