Mon, Apr. 20, 12:53 PM
- McEwen Mining (MUX -1.2%) is initiated with a Buy rating and $1.25 price target at H.C. Wainwright, which estimates production at El Gallo 1 to reach 50.4K oz. of gold in 2015 with a decrease in costs expected throughout the year.
- Wainwright notes El Gallo has strong expansion potential as the complex includes additional deposits including the El Gallo 2 and Palmarito silver deposits as well as the Magistral gold deposit.
- While the firm believes the additional deposits have potential, it believes higher metals prices are necessary in order to advance any expansion scenarios.
Thu, Apr. 9, 8:59 AM
- McEwen Mining (NYSE:MUX) +5% premarket after maintaining its 2015 production guidance at the El Gallo Mine in Sinaloa, Mexico, despite Tuesday's robbery.
- MUX says Q1 gold production totaled ~15.2K oz., which was 17% higher than guidance due to a higher than expected gold grade and better recoveries, and expects Q2 gold production of 14K oz. despite the theft.
- MUX also says it is working with its insurance carrier and expects to recover the majority of the losses.
Wed, Apr. 8, 5:46 PM
- McEwen Mining (NYSE:MUX) fell 5.6% in today's trade after yesterday's news that 900 kg of gold-bearing concentrate containing 7K oz. of gold - ~$8.4M in potential revenue - was stolen from its refinery in Mexico's Sinaloa state.
- Armed robberies of significant quantities of gold are not common, but operators in northern Mexico have been targeted in the past as the region is associated with cartels and gangs.
- The robbery raises concerns about other companies with exposure in northern Mexico, which include AGI, AUQ, CDE, PPP and TGD; among those with operations nearby are GG, PAAS, GPL, OTCPK:FNLPF and OTCQX:SMNPF.
Tue, Apr. 7, 5:53 PM
- McEwen Mining (NYSE:MUX) says an armed robbery at its El Gallo 1 mine in Mexico resulted in the theft of 900 kg of gold-bearing concentrate containing ~7K oz. of gold from the refinery.
- MUX says it is working with its insurance carrier to determine the extent of available coverage, but its policy will not be sufficient to cover the entire expected loss.
- MUX says no employees were seriously injured, and there was no material damage to mine facilities.
Mon, Mar. 9, 6:26 PM
Thu, Jan. 15, 12:45 PM
Thu, Jan. 15, 9:16 AM
Thu, Jan. 15, 8:58 AM
- McEwen Mining (NYSE:MUX) +12.5% premarket after setting record annual production in 2014 of 84.3K gold oz. and 3.195M silver oz., and record quarterly production of 27.4K gold oz. and 973.4K silver oz.
- MUX says the El Gallo 1 mine in Mexico produced a record of 14K gold oz. and 13.4K silver oz. in Q4.
- Says it had cash and liquid assets of $18.3M and no bank debt as of year-end 2014.
Nov. 18, 2014, 12:49 PM
Nov. 10, 2014, 12:59 PM
Oct. 31, 2014, 9:06 AM
Jul. 3, 2014, 3:07 PM
Mar. 21, 2014, 5:37 PM
Mar. 17, 2014, 3:45 PM
- McEwen Mining (MUX -12.2%) CEO Rob McEwen says the company is holding back production for its second Mexico mine that just received permitting, preferring to wait for higher silver prices.
- McEwen says the 12% increase in gold and silver reserves at MUX's San Jose mine in Argentina is a result of more spending on exploration.
Mar. 17, 2014, 12:45 PM
Mar. 14, 2014, 9:59 AM
- 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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