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McEwen cuts Gold Bar, Black Fox mine production forecast

Sep. 10, 2019 8:34 AM ETMcEwen Mining Inc. (MUX) Stock, MUX:CA StockMUXBy: Carl Surran, SA News Editor19 Comments
  • McEwen Mining (NYSE:MUX) -2.2% pre-market as production delays force guidance cuts at its Gold Bar and Black Fox mines in Nevada and Ontario, respectively.
  • Production at Gold Bar and Black Fox has been "a big disappointment," Rob McEwen says, as unanticipated natural and operational issues coupled with startup delays at Gold Bar have pushed some production into 2020, and output at Black Fox has been hurt by slower than planned underground development.
  • MUX reduces 2019 production guidance for Gold Bar to 30K-33K gold oz. and for Black Fox to 36K-40K gold oz.
  • Combined with its operations in Argentina and Mexico, MUX says it now expects to produce 131K-138K gold oz. and 3.22M silver oz., or 169K-176K gold equiv. oz. at an 85:1 gold to silver ratio.

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