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McEwen Mining reports Q2 production results

Jul. 16, 2018 10:10 AM ETMcEwen Mining Inc. (MUX) Stock, MUX:CA StockBy: Vandana Singh, SA News Editor10 Comments
  • McEwen Mining (NYSE:MUX +0.9%) reports Q2 consolidated production of 36,959 (+66.5%) gold ounces and 772,432 (-0.9%) silver ounces, or 47,258 gold equivalent ounces.
  • In July 2018, new Preliminary Economic Assessment study on the potential restart of production from the El Gallo Complex (Project Fenix), was published.
  • Select outcomes from the assessment: Average annual production rate of ~47,000 ounces gold equivalent, low initial capital cost of $41M for Phase 1 and $30M for Phase 2, and pay-back period of 4.1 years.
  • As of July 9, 2018, the company was debt-free with liquid assets of ~$30M.

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