Copper $ 2.91 -0.04 -1.2% Volume: 1,322 September 21, 2017
Silver $ 16.98 +0.00 +0% Volume: September 24, 2017
Gold $ 1,293.91 +0.00 +0% Volume: September 24, 2017
TSX: MUX $ 2.53 +0.05 +2.02% Volume: 568,399 September 22, 2017
NYSE: MUX $ 2.06 +0.05 +2.49% Volume: 5,345,946 September 22, 2017
1,290.60 -21.40 -1.63% Volume: 12 Pricing delayed 20 minutes September 21, 2017 11:10 PM
Operations
Operations

El Gallo Mine Production

In 2015 El Gallo Mine 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. Costs per gold equivalent ounce were $440 total cash cost and $581 all-in sustaining cost.

Our 2016 production was 54,929 gold ounces and 25,336 silver ounces. Using a 75:1 gold-to-silver ratio, it equates to 55,266 gold equivalent ounces, in line with the annual guidance. 2016 costs per gold equivalent ounce were $524 total cash cost and $610 all-in sustaining cost

For 2017 our production guidance is of 49,700 gold ounces and of 24,000 silver ounces. Using a 75:1 gold-to-silver ratio, it equates to 50,000 gold equivalent ounces. 2017 guidance for costs per gold equivalent ounce is $780 total cash cost and $990 all-in sustaining cost

Four Years Production Results for El Gallo Mine

Full Years:

2016

2015

2014

2013 

Average gold grade mined

1.32

3.37

1.40

1.31

Ore mined (thousand tonnes)

1,048

1,209

1,271

1,278

Average grade gold produced (gpt)

2.14

3.41

1.58

1.22

Gold produced (thousand oz)

54.9

63.0

38.2

30.7

Silver produced (thousand oz)

25.3

29.9

25.9

20.7

Gold equivalent produced (thousand ounces)

55.3

63.4

38.7

31.1

Gold sold (thousand ounces)

48.7

62.2

35.6

32.7

Silver sold (thousand ounces)

17.6

35.9

19.4

22.7

Gold equivalent sold (thousand ounces)

48.9 62.7 35.9 33.1

Gold equivalent total cash cost (US$)

524

440

875

749

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

610

581

1,194

 1,164

2013 gold-to-silver ratio - 52:1; 2014 gold-to-silver ratio - 60:1; 2015 gold-to-silver ratio - 75:1; 2016 gold-to-silver ratio - 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), a news release titled "McEwen Mining Reports 2016 Full Year and Q4 Results", released on March 1, 2017 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 Note

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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