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.
SMNPF vs. ETF Alternatives
Scorpio Mining Corporation (TSX:SPM) is a leading Canadian-based junior silver producer with assets in the Americas. Scorpio has a strong and diversified operating platform with annual production of an expected 4.6-5.2 million silver equivalent ounces. The company has two established producing... More
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