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McEwen spends to grow

McEwen Mining (TSX/NYSE: MUX) has posted a US$10.6 million net loss for the first half of the year after ploughing $49 million into its Gold Bar, Black Fox and Los Azules projects during the period.
McEwen spends to grow McEwen spends to grow McEwen spends to grow McEwen spends to grow McEwen spends to grow

Gold Bar in Nevada

Staff reporter

The gold and silver miner said its net cash flow from the business excluding project development costs was $18.7 million for the half, on production of 72,027oz of gold and 1,468,083oz of silver (91,602oz gold-equivalent oz).

McEwen is shooting for 128,000oz of gold and 3,225,000oz of silver (171,000oz Au-eq) in 2018, and for first production from its new Gold Bar mine in the US in the first quarter next year. Gold Bar is forecast to add production of 55,000oz, 74,000oz and 68,000oz of gold, respectively, in its first three years of operation.

 

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