Announces Record Q3 2015 Production
Toronto, Oct 28, 2015 AEST (ABN Newswire) - McEwen Mining Inc. (
NYSE:MUX) (TSE:MUX) is pleased to announce record total production for the third quarter, and the first nine months of 2015, of 43,390 and 115,988 gold equivalent ounces respectively. The star performer during the quarter was the El Gallo Mine.
Highlights:
- Total Q3 2015 production was of 43,390 gold equivalent ounces(1), an increase of 54% over Q3 2014.
- For the first nine months of 2015, total production was 115,988 gold equivalent ounces, an increase of 34% over the same period in 2014.
- Total production for the year is expected to be 150,000 gold equivalent ounces.
- Q3 2015 represents the fourth consecutive quarter of record production at the El Gallo Mine with a total of 19,558 gold equivalent ounces.
- El Gallo Mine now forecast to produce 62,000 gold equivalent ounces in 2015.
El Gallo Mine, Mexico - An Exceptional Quarter
Production in Q3 2015 was higher at 19,558 gold equivalent ounces as a result of higher grade ore being mined and placed on the leach pad in Q2 and Q3, and continued strong operational performance (see Fig. 1, in link below). In the first nine months of 2015, El Gallo produced 52,270 gold equivalent ounces, compared to 24,320 gold equivalent ounces during same period in 2014. Full year guidance for El Gallo was revised higher in September to 62,000 gold equivalent ounces.
San José, Argentina (49%) - Meeting Guidance, Higher Production
Our attributable production from San José in Q3 was 12,201 gold ounces and 872,273 silver ounces, or 23,832 gold equivalent ounces. Compared to Q3 2014, gold and silver production was up 8% and 16% respectively (see Fig. 2, in link below). Full year guidance for San José remains at 46,500 gold ounces and 3.1 million silver ounces, or 88,000 gold equivalent ounces.
Financial Results
Operating costs for Q3 2015 will be released with the Quarterly Financial Statements on November 5th, 2015.
To view the release including figures, please visit:
http://media.abnnewswire.net/media/en/docs/81310-NYSE_MUX_28102015.pdf
About McEwen Mining Inc
McEwen Mining (NYSE:MUX) (TSE:MUX) is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. McEwen Mining also holds a 48.3% interest in McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The Company's goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the Company of US$225 million.
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