Copper $ 2.82 -0.04 -1.33% Volume: May 27, 2015
Silver $ 16.75 +0.03 +0.18% Volume: May 29, 2015
Gold $ 1,190.38 +1.71 +0.14% Volume: May 29, 2015
TSX: MUX $ 1.22 +0.01 +0.83% Volume: 26,943 May 29, 2015
NYSE: MUX $ 1.00 +0.03 +3.09% Volume: 795,099 May 29, 2015
1,190.38 +1.71 +0.14% Volume: Pricing delayed 20 minutes May 29, 2015 6:55 PM
Operations
Operations

San José Mine – Argentina (49% Ownership)

Production

Our attributable production from San José in 2014 was 46,139 gold oz. and 3,169,821 silver oz. At a silver-to- gold ratio of 60:1, this equates to 98,969 gold equivalent oz. at all-in sustaining costs of $1,086 per gold equivalent oz. This beats guidance of 97,500 gold equivalent oz. at an all-in sustaining cost of $1,125 per gold equivalent oz. 

In Q4 2014 our attributable production from San José was 13,344 gold oz. and 959,995 silver oz. At a silver-to- gold ratio of 60:1, this equates to 29,344 gold equivalent oz. at all-in sustaining costs of $1,024 per gold equivalent oz. This beat guidance of 28,000 gold equivalent oz. at all-in sustaining costs of $1,125 per gold equivalent oz. 

McEwen Mining’s forecast share of production from San José in 2015 is 46,500 gold oz and 3,100,000 silver oz. 

San José Mine Production Results

 

San José – 100%*

Full-Year 2014(1)

Full-Year 2013

Q4 2014(1)

Q4 2013

Ore production (tonnes processed)

571,018

536,937

152,689

156,150

Average grade gold (gpt)

5.77

6.42

6.19

6.03

Average head silver (gpt)

404

425

454

399

Average gold recovery (%)

88.8

89.2

89.6

87.6

Average silver recovery (%)

87.2

86.7

87.8

87.0

Gold produced (oz)

94,161

98,827

27,233

26,529

Silver produced (oz)

6,649,022

6,356,801

1,959,174

1,741,275

Gold sold (ounces)

91,276

94,758

30,131

25,254

Silver sold (ounces)

6,315,799

6,277,837

2,162,590

1,742,030

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

874

876

812

832

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

12.11

13.71

10.36

13.15

Gold equivalent total cash cost (US$/oz)

795

848

708

809

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

1,193

1,182

1,174

1,129

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

16.54

18.49

14.98

17.84

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

1,086

1,144

1,024

1,098

McEwen Mining – 49%*

 

 

 

 

 

Gold produced (oz)

46,139

48,425

13,344

12,999

Silver produced (oz)

3,169,821

3,114,833

959,995

853,225

Gold equivalent produced (ounces)

98,969

100,339

29,344

27,220

Silver-to-gold ratio of 60:1

* 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.
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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