Production for McEwen Mining’s share in the San José mine during Q3 2013 was 28,467 gold equivalent ounces (converting silver into gold using a 52:1 ratio), consisting of 12,549 gold ounces and 827,726 silver ounces. San José is on track to meet its production guidance for the third consecutive year. Production guidance for McEwen Mining’s share of San José in 2013 is 102,700 gold equivalent ounces.
Gold equivalent total cash costs for Q3 2013 equalled $749 per ounce. This is 7% lower than Q3 2012 and consistent with the previous quarter. Costs have been declining due to increased production and a declining Argentine peso. All-in sustaining costs were slightly higher than Q2 2013 by 3% at $1,003 per gold equivalent ounce. This increase is due to the timing of gold and silver sales.
San José Mine Production Comparison
San José – 100%*
Ore production (tonnes)
|Average grade gold (gpt)
Average head silver (gpt)
Average gold recovery (%)
|Average silver recovery (%)
|Gold produced (ounces)
|Silver produced (ounces)
|Gold sold (ounces)
|Silver sold (ounces)
|Co-product total cash cost Au (US$/oz)
|Co-product total cash cost Ag (US$/oz)
|Gold equivalent total cash cost (US$/oz)
|Co-product all-in sustaining cash cost Au (US$/oz)
|Co-product all-in sustaining cash cost Ag (US$/oz)
|Gold equivalent co-product all-in sustaining cash cost (US$/oz)
McEwen Mining – 49% Share
Gold produced (ounces)
|Silver produced (ounces)
|Gold equivalent¹ produced (ounces)
* McEwen Mining holds a 49% attributable interest in the San José mine.
San José technical information on this page were derived from a news release titled “McEwen Mining Q3 2013 Results" released on November 8, 2013 by McEwen Mining Inc. To access the news release click here.
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.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
This website contains certain forward-looking statements and information and investors are encouraged to review our Cautionary Note Regarding Forward Looking Statement and our disclaimer regarding Reliability of Information San Jose Mine / Minera Santa Cruz S.A.