McEwen Mining Slashes Growth Forecast

Mining Weekly reported that McEwen Mining has revised their gold-equivalent output by 2016 down by 22 percent, the latest gold miner to be impacted by the dramatic drop in gold prices and pressure to cut costs.

As quoted in the Mining Weekly report:

McEwen Mining, under the leadership of chief owner Rob McEwen, late on Monday said the forecast production growth had been reduced to 225 000 gold-equivalent ounces (GOEs), which would consequentially result in reduced capital requirements from its development projects to the point that its cash reserves and cash flow from operations would be enough to fund the majority of the revised production growth.

To view the whole Mining Weekly report, click here.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Bullion
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Otis-Gold-LogoOtis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.

Leave a Reply