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McEwen Mining Inc. (NYSE:MUX,TSX:MUX) announced their production results for Q2 and for the first half of 2013.
McEwen Mining Inc. (NYSE:MUX,TSX:MUX) announced their production results for Q2 and for the first half of 2013.
As quoted in the press release:
During Q2, approximately 35,955 gold eq. oz (20,988 gold oz and 778,308 silver oz) was produced, which is a Company record. This is approximately 30% higher than the comparable period in 2012 and 20% higher than Q1, 2013. For the first half of 2013, McEwen Mining produced 65,794 gold eq. oz and remains on track for 130,000 gold eq. ounces in 2013. Production costs will be reported in August with Q2 financials. Gold equivalent is calculated at a ratio of 52:1.
McEwen’s Chief Owner, Rob McEwen, said:
Both of our mines achieved solid operating performance in Q2. In addition, our El Gallo 1 mine expansion, which is expected to increase processing capacity by 50% for $5 million, is underway. The required metallurgical testing to determine if we can heap leach El Gallo 2 ore has been initiated. Despite the depressed state of the precious metal sector, we continue to seek alternative ways to expand our production with the least amount of capital.
To view the whole press release, click here.
