McEwen Mining Inc. today announced that it has closed the previously announced $50 million senior secured 3-year term loan facility with Royal Capital Management Corp. as agent for the Lenders . As previously disclosed Rob McEwen, Chairman and Chief Owner of the Company, is participating as a Lender for $25 million of the total $50 million Term Loan. The Term Loan will be used to complete construction of the Gold Bar Mine [...]
TORONTO, Aug. 01, 2018 -- McEwen Mining Inc. is pleased to announce the appointment of Chris Stewart, P.Eng., as the President and Chief Operating Officer effective September 1st, 2018. Chris replaces Xavier Ochoa who resigned as of July 13, 2018 to pursue an opportunity closer to his home and family in South America. “McEwen Mining is in a growth phase that relies heavily on engineering and execution of projects [...]
TORONTO, July 31, 2018 -- McEwen Mining Inc. today reported second quarter results for the period ended June 30, 2018 . During Q2, gold equivalent ounces produced increased by 45% and all-in sustaining costs per ounce decreased by 2% compared to Q2 2017. Net cash flow from the business excluding project development costs was $6.3 million or $0.02 per share. A total investment of $26.3 million was made to further our [...]
TORONTO, July 25, 2018 -- McEwen Mining Inc. reports additional encouraging exploration results from its ongoing $15 million exploration program at the Black Fox Complex near Timmins, Ontario, Canada. McEwen’s 2018 exploration goals are to grow known deposits and make new discoveries to contribute to near-term gold production. During Q2 a total of 129,000 ft ) of surface exploration drilling was completed at Black [...]
TORONTO, July 09, 2018 -- McEwen Mining Inc. reports that it has filed the new Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 on its 100% owned El Gallo Complex . Some of the details in the PEA document filed today differ from those disclosed in the news release dated May 25, 2018 entitled “McEwen Mining Announces New Preliminary Economic Assessment – Extending Life An [...]
TORONTO, June 14, 2018 -- McEwen Mining Inc. held its annual meeting of shareholders on May 24, 2018. Of the 337,086,060 shares outstanding and entitled to vote at the meeting, 229,983,667 shares were voted, or 68.2% of the outstanding shares entitled to vote. At the annual meeting, the shareholders elected the nine individuals nominated to be directors and ratified the appointment of Ernst & Young LLP as the [...]
TORONTO, May 25, 2018 -- McEwen Mining Inc. is pleased to announce results of a new Preliminary Economic Assessment study evaluating the potential extension of production from its 100% owned El Gallo Complex in Sinaloa, Mexico. The proposed redevelopment plan evaluated in the PEA is called Project Fenix. The key outcomes of Project Fenix include an average annual production rate of 47,000 ounces gold equivalent , low [...]
TORONTO, May 25, 2018 -- McEwen Mining Inc. today announced that it intends to issue up to US$50 million in Senior Secured Notes to complete construction the Gold Bar Mine in Nevada. Negotiations are underway with an independent third-party lender, whereby they would purchase 50% of the Notes issued and Rob McEwen would purchase the remaining 50%. The Notes contemplated will have a term of 3 years and bear interest at a [...]
TORONTO, May 24, 2018 -- McEwen Mining Inc. provides an updated mineral resource estimate for the Tamarack gold and base metal deposit at the 100% owned Black Fox Complex in Matheson, Ontario. The Black Fox Complex comprises the Black Fox Mine and the Tamarack, Gibson-Grey Fox, Froome and Stock zones. The base metal component of the Tamarack resource is being included for the first time. “This is the first time that [...]
TORONTO, May 01, 2018 -- McEwen Mining Inc. today reported first quarter results for the period ended March 31, 2018 . McEwen Mining achieved production of 44,344 gold equivalent ounces in-line with our expectations. Net cash flow from the business excluding project development costs was $12.4 million, offset by $22.7 million related to investments towards our long-term production growth at Gold Bar, Black Fox and Los [...]
TORONTO, April 30, 2018 -- McEwen Mining Inc. reports encouraging exploration results from its Black Fox Complex near Timmins, Ontario, Canada. Black Fox Complex Exploration Program Our 2018 exploration budget at Black Fox is $15 million and we have spent approximately 30% year to date. Our primary goals are to extend mineralization around known deposits and to test targets close to our mine and mill. During Q1 a total of [...]
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