Copper $ 2.08 -0.00 -0.05% Volume: August 25, 2016
Silver $ 18.57 -0.30 -1.59% Volume: August 25, 2016
Gold $ 1,325.79 -12.25 -0.92% Volume: August 25, 2016
TSX: MUX $ 4.97 +0.14 +2.9% Volume: 783,075 August 25, 2016
NYSE: MUX $ 3.85 +0.13 +3.5% Volume: 4,762,554 August 25, 2016
1,325.79 -12.25 -0.92% Volume: Pricing delayed 20 minutes August 25, 2016 7:35 PM
Operations
Operations

El Gallo – Mexico

Production

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 gold-to-silver ratio. As a result of higher grades and better recoveries throughout 2015, this exceeded our guidance for the year, originally estimated at 50,000 gold equivalent ounces. Costs per gold equivalent ounce were $440 total cash cost and $581 all-in sustaining cost.

Production in 2016 is forecast to be 55,000 gold equivalent ounces at costs per gold equivalent ounce of $780 total cash cost and $840 all-in sustaining cost.

El Gallo 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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