Copper $ 2.52 +0.01 +0.32% Volume: January 28, 2015
Silver $ 17.28 +0.33 +1.95% Volume: January 30, 2015
Gold $ 1,276.04 +17.93 +1.43% Volume: January 30, 2015
TSX: MUX $ 1.57 +0.08 +5.37% Volume: 84,605 January 30, 2015
NYSE: MUX $ 1.23 +0.04 +3.36% Volume: 400,568 January 30, 2015
1,276.04 +17.93 +1.43% Volume: Pricing delayed 20 minutes January 30, 2015 11:52 AM
Operations
Operations

El Gallo – Mexico

Production

In Q4 2014, the El Gallo 1 mine produced a record of 14,068 gold oz and 13,422 silver oz. Full-year production totalled 38,224 gold oz and 25,872 oz. 

Production costs for 2014 will be released with year-end financials in early March 2015.

Annual production in 2015 is expected to increase 31% to 50,000 gold oz with all-in sustaining costs decreasing to $750 per gold oz.

 

El Gallo Phase 1 Mine Production Results

 

2015 Guidance

Full-Year 2014(1)

Full-Year 2013

Q4 2014(1)

Q4 2013

El Gallo 1

 

 

 

 

 

Ore production (tonnes)

850,000

1,462,496

1,255,314

522,337

323,863

Average grade gold (gpt)

2.60

1.42

1.22

1.93

1.17

Gold produced (oz)

50,000

38,224

30,733

14,068

7,687

Silver produced (oz)

20,000

25,872

20,635

13,422

3,786

* 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 Record Production in 2014", released on January 15, 2015 by McEwen Mining Inc. To access the news release 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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