Copper $ 2.11 +0.00 +0.1% Volume: May 26, 2016
Silver $ 16.02 -0.17 -1.05% Volume: May 31, 2016
Gold $ 1,209.70 +0.72 +0.06% Volume: May 31, 2016
TSX: MUX $ 2.92 +0.21 +7.75% Volume: 283,324 May 31, 2016
NYSE: MUX $ 2.23 +0.02 +0.91% Volume: 3,907,704 May 31, 2016
1,209.70 +0.72 +0.06% Volume: Pricing delayed 20 minutes May 31, 2016 7:55 PM
Operations
Operations

El Gallo – Mexico

Production

In 2014 we produced a record 38,212 gold ounces and 25,912 silver ounces. At a silver-to-gold ratio of 60:1, this equates to 38,643 gold equivalent ounces at an all-in sustaining cost of $1,194 per gold equivalent ounce. This beats guidance of 37,500 gold equivalent ounces at an all-in sustaining cost of $1,250 per gold equivalent ounce. 

In 2015 we produced a total of 63,366 gold equivalent ounces from 62,967 ounces of gold and 29,917 ounces of silver at a 75:1 silver-to-gold ratio for 2015. The gold equivalent total cash cost was of $440 per ounce and the gold equivalent all-in sustaining cost was of $581 per ounce.

Production in 2016 is forecast to be 52,000 gold equivalent ounces, all-in sustaining cost at $840 gold equivalent ounces.

El Gallo 1 Mine Production Results

 

Full-Year

Full-Year

Full-Year

 

2013

2014

2015 

Average gold grade mined

1.31

1.40

3.37

Ore production (thousand tonnes)

1,255

1,462

1,209

Average grade gold produced (gpt)

1.22

1.58

3.41

Gold produced (thousand oz)

30.7

38.2

63.0

Silver produced (thousand oz)

20.6

25.9

29.9

Gold equivalent produced (thousand ounces)

31.1

38.6

63.4

Gold sold (thousand ounces)

32.7

35.6

62.2

Silver sold (thousand ounces)

22.7

19.4

35.9

Gold equivalent total cash cost (US$)

750

876

440

Gold equivalent all-in sustaining cash cost (US$)

1,166

1,196

 581

2013 Silver-to-gold ratio - 52:1 ;  2014 Silver-to-gold ratio of 60:1 ;  2015 Silver-to-gold ratio of 75:1

* Gold recoveries are projected to reach 70% through on-going leaching.

The El Gallo information on this page was derived from  a news release titled “McEwen Mining Reports 2015 Full Year and Q4 Results", released on March 11, 2016 by McEwen Mining Inc.(to access the news release click here) and from McEwen Mining's Q4 2015 financials (to access the report click here).

Cautionary Notes

McEwen Mining reports its resource estimates in accordance with standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 ("NI 43-101"). These standards are different from the standards generally permitted in reports filed with the SEC. Under NI 43-101, McEwen Mining reports measured, indicated and inferred resources, measurements which are generally not permitted in filings made with the SEC. According to Canadian NI 43-101 criteria, the estimation of measured resources and indicated resources involve greater uncertainty as to their economic feasibility than the estimation of proven and probable reserves. Under SEC Industry Guide 7 criteria, measured, indicated and inferred resources are considered Mineralized Material. The SEC considers that in addition to greater uncertainty as to the economic feasibility of Mineralized Material compared to proven and probable reserves, there is also greater uncertainty as to the existence of Mineralized Material. U.S. investors are cautioned not to assume that measured or indicated resources will be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than  the estimation of other categories of resources.

This website contains certain forward-looking statements and information and investors are encouraged to review our "Cautionary Note Regarding Forward Looking Statement".

 

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