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McEwen Mining Inc. (TSX:MUX,NYSE:MUX) released its consolidated financial results for Q3 2017, commenting that its El Gallo mine had earnings from mining operations of $51 million, while its San Jose mine had earnings from mining operations of $4.5 million.
McEwen Mining Inc. (TSX:MUX,NYSE:MUX) released its consolidated financial results for Q3 2017, commenting that its El Gallo mine had earnings from mining operations of $51 million, while its San Jose mine had earnings from mining operations of $4.5 million.
As quoted in the press release:
The Company experienced increased cost and reduced income as a consequence of an unexpected drop in production at the El Gallo mine due to an equipment failure. Our portion of  income from the San José mine was also reduced on lower production. As a result, the Company reported a net loss of $8.1 million or $0.03 per share.
Rob McEwen, chairman and chief owner of McEwen Mining, commented:
During the third quarter we faced some challenges with our operations that resulted in disappointing performance. Production was approximately 17,500 gold equivalent ounces in the month of October. This improved production level puts us on track for a stronger fourth quarter.
Click here to read the full McEwen Mining Inc. (TSX:MUX,NYSE:MUX) press release.