McEwen Mining reports Q1 output, explores sale of Mexican assets

|About: McEwen Mining Inc. (MUX)|By:, SA News Editor

McEwen Mining (NYSE:MUX) +1.8% pre-market after reporting Q1 production results and saying it is exploring the potential sale of its Mexican assets.

MUX says half of net proceeds from a potential sale would be used to advance development projects, with the rest used to pay down debt.

The company reports Q1 gold production fell 23% Y/Y to 26,789 oz. and silver output rose 10% to 703,217 oz., with gold equiv. production declining 18% to 36,166 oz.

Chairman Rob McEwen says gold production "improved significantly" at the Black Fox mine in March, and "the issues that pushed the start-up of commercial production at Gold Bar from Q1 into Q2 have largely been resolved."

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