McEwen Mining Achieves Quarterly Production Record

McEwen Mining Inc. (TSX:MUX,NYSE:MUX) announced its production results for Q4 2014 and 2014 as a whole. During the former it put out 27,412 ounces of gold and 973,417 ounces of silver. For the latter, production came to 84,363 ounces of gold and 3,195,693 ounces of silver.

Other highlights include:

El Gallo 1, Mexico

• In Q4 2014, we produced a record of 14,068 gold oz and 13,422 silver oz.
• In Q4 2014, our mined gold grade increased 73% quarter-over-quarter to 1.93 gpt Au. This year we expect to be mining an average grade of 2.6 gpt Au.
• This year annual gold production is expected to increase 31% to 50,000 oz.
• This year all-in sustaining costs are expected to decrease to $750 per gold oz due to a one third decrease in crusher throughput and lower mining, blasting and cyanide costs.

San José, Argentina (49%)

• Our attributable production from San José in Q4 was 13,344 gold oz and 959,995 silver oz.
• In 2015 the gold and silver grades are expected to increase slightly to 6.15 gpt and 414 gpt for the year, respectively.
• This year annual production is expected to be similar to 2014, with 46,500 gold oz and 3,100,000 silver oz.
• At the current silver to gold ratio of 75:1, we expect all-in sustaining costs in 2015 to be $1,225per gold equivalent oz.

Click here to read the full McEwen Mining Inc. (TSX:MUX,NYSE:MUX) press release.