MCEWEN MINING: Higher Production – 2021 & Q4
January 19 2022 - 5:17PM
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is
pleased to report consolidated production for the full year
of
2021 was
34%
higher than in 2020 and Q4 2021 was
29% higher
than in Q4 2020. Production guidance for 2021 was achieved. Full
year production was
154,410 gold equivalent
ounces(1)(“GEOs”) consisting of
118,500 gold
ounces and
2,572,000 silver ounces. In
Q4, production was
40,150 GEOs consisting
of
31,300 gold ounces
and
682,700 silver ounces.
Consolidated Production
Summary
|
Q4 |
Full Year |
2021Guidance |
2020 |
2021 |
2020 |
2021 |
Gold (oz) |
24,100 |
31,300 |
92,100 |
118,500 |
110,500-127,900 |
Silver (oz) |
532,400 |
682,700 |
2,020,000 |
2,572,000 |
2,300,000-2,450,000 |
GEOs(1) |
31,100 |
40,150 |
115,600 |
154,410 |
141,000-160,400 |
In Q4 2021, our
attributable production from San
José(2) was 682,700 silver
ounces and 11,300 gold ounces,
or 20,200 GEOs, which was in-line with our
expectations; Black Fox production
of 9,460 GEOs was also in-line with our
expectations; Gold Bar production
of 9,950 GEOs was above our
expectations; and El Gallo
produced 540 GEOs from residual
leaching.
Notes: |
|
(1) |
'Gold Equivalent Ounces' are calculated based on a gold to silver
price ratio of 94:1 for Q1 2020, 104:1 for Q2 2020, 79:1 for Q3
2020, 77:1 for Q4 2020, 68:1 for Q1 2021, 68:1 for Q2 2021, 73:1
for Q3 2021 and 77:1 for Q4 2021. |
(2) |
The San José Mine is 49% owned by McEwen Mining Inc. and 51% owned
and operated by Hochschild Mining plc. |
Technical InformationTechnical
information pertaining to mining operations contained in this news
release has been reviewed and approved by Peter Mah, P.Eng., COO of
McEwen Mining and a Qualified Person as defined by Canadian
Securities Administrators National Instrument 43-101 "Standards of
Disclosure for Mineral Projects."
Reliability of Information Regarding San
JoséMinera Santa Cruz S.A., the owner of the San José
Mine, is responsible for and has supplied to the Company all
reported results from the San José Mine. McEwen Mining’s joint
venture partner, a subsidiary of Hochschild Mining plc, and its
affiliates other than MSC do not accept responsibility for the use
of project data or the adequacy or accuracy of this release.
CAUTION
CONCERNING FORWARD-LOOKING STATEMENTSThis news release
contains certain forward-looking statements and information,
including "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements and information expressed, as at the
date of this news release, McEwen Mining Inc.'s (the "Company")
estimates, forecasts, projections, expectations or beliefs as to
future events and results. Forward-looking statements and
information are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and
competitive uncertainties, risks and contingencies, and there can
be no assurance that such statements and information will prove to
be accurate. Therefore, actual results and future events could
differ materially from those anticipated in such statements and
information. Risks and uncertainties that could cause results or
future events to differ materially from current expectations
expressed or implied by the forward-looking statements and
information include, but are not limited to, effects of the
COVID-19 pandemic, fluctuations in the market price of precious
metals, mining industry risks, political, economic, social and
security risks associated with foreign operations, the ability of
the corporation to receive or receive in a timely manner permits or
other approvals required in connection with operations, risks
associated with the construction of mining operations and
commencement of production and the projected costs thereof, risks
related to litigation, the state of the capital markets,
environmental risks and hazards, uncertainty as to calculation of
mineral resources and reserves, and other risks. Readers should not
place undue reliance on forward-looking statements or information
included herein, which speak only as of the date hereof. The
Company undertakes no obligation to reissue or update
forward-looking statements or information as a result of new
information or events after the date hereof except as may be
required by law. See McEwen Mining's Annual Report on Form 10-K for
the fiscal year ended December 31, 2020, and other filings with the
Securities and Exchange Commission, under the caption "Risk
Factors", for additional information on risks, uncertainties and
other factors relating to the forward-looking statements and
information regarding the Company. All forward-looking statements
and information made in this news release are qualified by this
cautionary statement.
The NYSE and TSX have not reviewed and do not
accept responsibility for the adequacy or accuracy of the contents
of this news release, which has been prepared by the management of
McEwen Mining Inc.
ABOUT MCEWEN MININGMcEwen
Mining is a diversified gold and silver producer and explorer
focused in the Americas with operating mines in Nevada, Canada,
Mexico and Argentina. It also has a large exposure to copper
through its subsidiary McEwen Copper, owner of the giant Los Azules
copper deposit in Argentina.
CONTACT INFORMATION: |
|
Investor Relations:(866)-441-0690
Toll-Free(647)-258-0395Mihaela Iancu ext.
320info@mcewenmining.com |
Website:
www.mcewenmining.comFacebook:
facebook.com/mcewenminingFacebook:
facebook.com/mcewenrob Twitter:
twitter.com/mcewenminingTwitter:
twitter.com/robmcewenmuxInstagram:
instagram.com/mcewenmining |
150 King Street WestSuite 2800, P.O. Box 24Toronto, ON, CanadaM5H
1J9 |
|
|
|
McEwen Mining (NYSE:MUX)
Historical Stock Chart
From Aug 2024 to Sep 2024
McEwen Mining (NYSE:MUX)
Historical Stock Chart
From Sep 2023 to Sep 2024