Seeking Alpha

McEwen Mining +6.2%, says solid growth continues at San Jose mine

  • McEwen Mining (MUX +6.2%) updates reserve and resource estimates at its San Jose mine in Argentina; proven and probable gold and silver reserves each rose by 12% Y/Y, to 409.4K oz. of gold and 30.1M oz. of silver, contained in 1.8M metric tons.
  • Reserve and resource estimates were calculated using $1,200/oz. gold and $20/oz. silver.
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Comments (4)
  • Tropicalias
    , contributor
    Comment (1) | Send Message
     
    Solid foundation company, well done Rob. The base used for calculations is $1200/oz Au & $20/oz Ag...we all know where we're at with the market prices now. Nice looking profit in other words...
    14 Mar 2014, 11:25 AM Reply Like
  • 6151621
    , contributor
    Comments (1182) | Send Message
     
    @Tropicalias, Yes it's good to see them using a conservative price estimate for reserves considering prices weren't below these levels for very long. The other real positives are 1) actually getting money out of Argentina and 2) El Gallo I expansion ahead of schedule and way under budget! Great Job, Rob and Team!
    14 Mar 2014, 12:39 PM Reply Like
  • v irgil75
    , contributor
    Comments (6) | Send Message
     
    McEwen did a great job with Gold Corp. I think he rewarded us (stock holder) well and I am sure he is likely to do a GG repeat now.
    I am 79 years old, have been a gold bug for many years. I do expect the value of the Federal Reserve Note dollar to continue to decline and the value of gold to advance as a result.
    14 Mar 2014, 01:01 PM Reply Like
  • Sufiy
    , contributor
    Comments (422) | Send Message
     
    Massive Short Squeeze Drives McEwen Mining Higher On Solid Results MUX TNR.v GDX GDXJ GLD HUI

     

    McEwen Mining has delivered solid results in 2013, updated its resource estimates at the San Jose mine in Argentina and Gold breakout now drives the stock higher on the massive short squeeze this week. According to NASDAQ, McEwen Mining Short Interest was at 25.5 million shares in the end of February. Solid operational results, higher Gold and Silver prices are making shorts very nervous these days. Catalyst will come with the news from Nevada exploration program, El Galo 2 development with higher Silver prices and any Los Azules copper development can change the situation for McEwen Mining and TNR Gold overnight.

     

    http://bit.ly/1gqFOAa#
    14 Mar 2014, 01:15 PM Reply Like
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