Copper $ 2.10 -0.03 -1.32% Volume: February 5, 2016
Silver $ 15.00 +0.13 +0.87% Volume: February 5, 2016
Gold $ 1,173.59 +18.12 +1.57% Volume: February 5, 2016
TSX: MUX $ 1.97 +0.01 +0.51% Volume: 180,129 February 5, 2016
NYSE: MUX $ 1.42 -0.01 -0.7% Volume: 2,352,593 February 5, 2016
1,173.59 +18.12 +1.57% Volume: Pricing delayed 20 minutes February 05, 2016 7:55 PM
Operations
Operations

San José Mine – Argentina (49% Ownership)

Production

Our attributable production from San José in 2013 was 48,425 ounces of gold and 3,114,833 ounces of silver. At a silver-to-gold ratio of 52:1 for 2013, this equates to 100,339 gold equivalent ounces at total cash costs of $848 per gold equivalent ounce and all-in sustaining costs of $1,144 per gold equivalent ounce. For 2014 production was 46,139 ounces of gold and 3,169,821 ounces of silver. At a silver-to-gold ratio of 60:1 for 2014, it equates to 98,969 gold equivalent ounces at total cash costs of $795 per gold equivalent ounce and all-in sustaining costs of $1,086 per gold equivalent ounce.

Our attributable production from San José for the nine months ending September 30, 2015 was 32,929 ounces of gold and 2,308,872 ounces of silver. At a silver-to-gold ratio of 75:1, this equates to 63,714 gold equivalent ounce at total cash costs of $900 per gold equivalent ounce and all-in sustaining costs of $1,160 per gold equivalent ounce. The San José Mine remains on target to produce 46,500 ounces of gold and 3.1 million ounces of silver in 2015.

San José Mine Production Results

 

San José – 100%*

Full-Year

Full-Year

Q1+Q2+Q3

 2013 (1)

2014 (2)

2015 (3)

Ore processed (thousand tonnes)

 537

571

378

Average grade gold (gpt)

 6.42

5.77

6.25

Average grade silver (gpt)

 425

404

446

Average gold recovery (%)

 89.2

88.8

88.6

Average silver recovery (%)

 86.7

87.2

87.0

Gold produced (thousand oz)

 98.8

94.2

67.2

Silver produced (thousand oz)

 6,357

6,649

4,712

Gold sold (thousand ounces)

 94.8

91.3

65.6

Silver sold (thousand ounces)

 6,278

6,316

4,735

Co-product total cash cost Au (US$/oz)

 876

874

908

Co-product total cash cost Ag (US$/oz)

 13.71

12.11

11.88

Gold equivalent total cash cost (US$/oz)

 848

795

900

Co-product all-in sustaining cash cost Au (US$/oz)

 1,182

1,193

1,171

Co-product all-in sustaining cash cost Ag (US$/oz)

 18.49

16.54

15.32

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

 1,144

1,086

1,160

McEwen Mining – 49%*

 

 

 

 

Gold produced (thousand oz)

 48.4

46.1

32.9

Silver produced (thousand oz)

 3,115

3,170

2309

Gold equivalent produced (thousand ounces)

 100.3

99.0

63.7

(1) Silver-to-gold ratio of 52:1 ;  (2) Silver-to-gold ratio of 60:1 ;  (3) Silver-to-gold ratio of 75:1

* McEwen Mining holds a 49% attributable interest in the San José mine.

San José technical information on this page was derived from a news release titled “McEwen Mining 2014 Operating & Financial Results” released on March 9, 2015 by McEwen Mining Inc.(to access the news release click here) and from McEwen Mining's Q3 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.

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.

 

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