Currently viewing Global edition

Record production, no profits, for McEwen Mining

McEwen Mining (TSX:MUX) has achieved record production of 167,000 ounces of gold and 3.2 million ounces of silver in 2018, at an all-in sustaining cost (AISC) of US$1,002 per gold-equivalent ounce (GEO). The company gave guidance it would produce 210,000 GEOs in 2019, a 20% increase over 2018 production, at an average AISC of $1,034.

Record production, no profits, for McEwen Mining Record production, no profits, for McEwen Mining Record production, no profits, for McEwen Mining Record production, no profits, for McEwen Mining Record production, no profits, for McEwen Mining

2347598-1-eng-GB-primero-mining-black-fox-complex.jpg

McEwen reported a consolidated net loss of $45 million for 2018, with CFO Andrew Elinesky stating during its results conference call that there would be "no significant profit in 2019".