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News Breaks | | | | January 15, 2013 | | 14:34 EDT |  | MUX | McEwen Mining reports Q4, FY12 gold equivalent production results
Earlier today, McEwen Mining announced FY12 and Q4 gold equivalent production results. For FY12, the company produced 105,050 gold equivalent ounces and in Q4 produced 32,220 gold equivalent ounces. Silver production has been converted into gold equivalent ounces based on a 52:1 ratio. The company also announced that production costs for 2012 and cost guidance for 2013 will be reported in March with year-end financials. Production in 2013 is forecast to grow by over 24% to 130,000 gold equivalent ounces with production coming from 2 mines: San Jose and El Gallo 1. El Gallo 1 in Mexico commenced commercial production on January 1. "Over the next 3 years, we forecast our internal projects will increase our production from 100,000 gold equivalent ounces to 290,000 gold equivalent ounces, a 3-fold increase. During this time, we will also be looking for opportunities to further increase our production in order to advance on our goal of qualifying for inclusion in the S&P 500 Index," said Chief Owner Rob McEwen. As of this writing, shares of McEwen were up 4c, or 1.08%, to $3.75. | |
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| May 16, 2013 | | 08:11 EDT | | MUX | McEwen Mining plans to expand production at El Gallo 1 Mine in Mexico
McEwen Mining announced that the company will be expanding the El Gallo 1 Mine in Sinaloa, Mexico. The company expects this expansion will significantly increase gold production for a small amount of capital. El Gallo 1 mine to be increased from 3,000 to approximately 4,500 tonnes of ore per day. This, along with improvements in ore grade, would increase gold production from an estimated 27,300 ounces in 2013 to approximately 37,500 ounces in 2014 and 75,000 ounces in 2015. Initial capital cost estimated at approximately $5M. No need for debt or equity financing. Growth to be financed internally. El Gallo 2 Alternative: Evaluating potential to ship ore from El Gallo 2 to El Gallo 1, using current heap leaching facilities. Review will focus on silver recoveries -- early column tests returned between 45-62% silver -- and crushing/processing costs. If successful, this would eliminate approximately $170M in CapEx. | | | May 10, 2013 | | 09:00 EDT |  | MUX | McEwen Mining falls 5.7%
 Subscribe for More Information | | | May 9, 2013 | | 07:58 EDT | | MUX | McEwen Mining says Q1 gold equivalent production increased 31%
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