SP500 Finale MCEWEN MINING

McEwen Mining Q3 2013 Results 36,494 Gold Eq. Produced – Cash Cost $749/oz – All-In Sustaining Cost $1,081/oz El Gallo 1 Mine Expansion Ahead of Schedule & Below Budget

(All Amounts in US Dollars Unless Otherwise Stated)

TORONTO, ONTARIO - (November 8, 2013) - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to provide a summary of the Company’s Q3 2013 operating results.

Q3 Highlights

Company earnings during the quarter totaled $3.3 million ($0.01 per share). Earnings from mining operations during the quarter totaled $15.4 million. Gold equivalent production* increased to 36,494 ounces (20,483 gold ounces and 832,594 silver ounces). This is 45% higher than Q3 2012 and 1% higher than Q2 2013. On target to meet 2013 full-year guidance of 130,000 gold equivalent ounces. Total cash costs and all-in sustaining costs were $749 and $1,081 per gold equivalent ounce. Total cash costs were 7% lower than Q3 2012. Total cash costs and all-in sustaining costs were consistent with previous quarter.  

Dear Shareholders,

Please click here for an informative video of McEwen Mining’s President, Ian Ball, discussing the Company’s Q3 results.  
https://vimeo.com/79120344
You can follow Ian on twitter @mcewen_ian.

For further information contact:

Sheena Scotland Investor Relations Tel: (647) 258-0395 ext 410 Toll Free: (866) 441-0690 Fax: (647) 258-0408

E-mail: info@mcewenmining.com Facebook: facebook.com/mcewenrob Twitter: twitter.com/mcewenmining

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http://seekingalpha.com/article/...-growth-and-debt-free?source=yahoo
McEwen Mining (MUX) is a debt-free junior miner with a $565 million market cap. CEO Rob McEwen, a founder, Chair (1986-2005) and CEO (1994-2005) of Goldcorp (GG), currently the world's largest gold miner by market cap, holds 25% of the company's shares and takes no salary. In addition to experienced management, share dilution is minimal: 1.2% on 300 million shares outstanding. Its 3Q 2013 results released Friday indicate that MUX continues to expand output at its primary producing sites, San Jose in Argentina and El Gallo 1 & 2 in Sinaloa, Mexico while reducing costs.

MUX is a top PM (precious metals) company in terms of potential and profitability. In the challenging environment of the past 20 months it has out-performed not only junior gold miners (GDXJ) but most of the PM sector. This has been true during periods of basing, updraft (fall 2012, August 2013) and declines.

McEwen has 4 properties in Nevada and a major porphyry-copper, gold and silver site, Los Azules in Argentina. Indicated and inferred gold at Los Azules are 3.4 million oz. as well as 23 million silver oz. indicated and 86 million inferred from preliminary drilling. MUX also has a cluster of properties in Santa Cruz province as well as near its El Gallo 1 & 2 sites. Once in operation, Los Azules would become one of the top copper mines in the world, producing 260k tones / year from 14.3 billion lbs. indicated reserves and 5.4 billion lbs inferred.

MUX's Gold Bar exploration site in Nevada is in permitting and is expected to produce 50k oz. gold/year at a low $700 / oz. in its first eight years with production expected to begin 2016. Gold Bar adjoins Barrick Gold's (ABX) Cortez mine, one of the largest gold mines in the world (15.1 million proven & probable reserves) and the lowest cost ($392/oz). MUX hopes to tap a similarly rich vein at Gold Bar. Exploration and testing continue around MUX's Grass Valley, Keystone and Tonkin sites in Nevada.

During 3Q 2013, output of gold equivalent oz. rose 45% Y/o/Y to 36.5k (20.5k gold oz. and 832.6 k silver oz). MUX is on target to meet its 2013 guidance of 130k gold equivalent oz. Production costs dropped 7% Y/o/Y suggesting operating efficiencies and good mineralization grades to $749 cash costs and $1081 all-in sustaining costs/ oz., in the lowest 15% of PM producers.

Expansion of El Gallo 1 is on target for completion by April 2014 with cost reduction of nearly 40% by focusing on surface operations. Capex at El Gallo 2 is being reduced 11% which helps MUX achieve its position of being liquid net $32.6 million and debt-free as of September 30, 2013. A $10.1 million tax refund from the Mexican government should be added to the balance sheet by end 2013. The EIS (environmental impact statement) on mine expansion at El Gallo has been approved by the Mexican Federal government.

El Gallo 1 production for 3Q was 8k gold oz. and 4.9k silver oz. at an all-in sustaining cost of $1066, down 10% Y/o/Y. At San Jose, owned 49-51% with Hochschild Mining (HCHDF), MUX's 49% share of output for 3Q 2013 was 12.5k oz. gold and 828k oz. silver at all-in sustaining costs of $1003 / gold equivalent oz., down 11$ Y/o/Y. MUX figures its gold equivalent oz. at a 52:1 gold / silver ratio. EPS increased from -.1 to +.1 despite crushed bullion prices. MUX sold 24.7k oz. gold and 1.66 million oz. silver into the market during 3Q 2103.


While still a small cap, MUX's growth profile and management led to its inclusion September 20 in the NYSE Arca Gold Mining ETF (GDX). MUX has been in the iShares Silver Miner ETF (SIL). September 13, MUX promoted Senior Vice President Ian Ball, with MUX since 2005 to President partly to acknowledge his role in fostering under-budget development of the El Gallo sites in Mexico.

MUX shares were near $10 in 2Q 2011, before gold bullion spiked over $1910 that September. Like much of the sector, MUX made a secular low June 26 at $1.63, about a dime below the June 2012 low. Shares recently fell as low as $1.81 intraday before rebounding to $1.90. MUX is trading at its 2Q 2009 - 1Q 2010 level and in my view is a strong buy below $2.20 and a compelling buy below $2.

Here is an inviting entry point to a company with a clean balance sheet, expanding operations and able management. MUX is rated "strong buy" at Nasdaq.com with a consensus price target at $4.78, 2.4 x current price. The analyst at market watch rates it "buy" with a target of $4.18.

Going forward, MUX is poised for substantial growth if PM prices rise even modestly. It has enormous reserves to develop in a better price environment. Thriving in challenging times for the PM sector and producing commodities greatly in demand, MUX is a company whose success has been veiled by depressed bullion prices. These prices will rise, perhaps rise greatly, as physical demand overcomes the effects of selling hypothecated contract-gold and helps to re-order the financial and monetary system. Source: McEwen Mining: Steady Growth And Debt Free

Additional disclosure: I own shares of PM companies separately and in a diversified fund.  

Jey Leute ..........klasse Managment........bin mal klein eingestiegen....mit nem Discout von 50% aufs Eigenkapital kann ich wohl nichts falsch machen ..........Gruss an alle  

In usa 2,10
sollte Gold weiter in der Erholung hochlaufen, dann kommen andere Kurse
Argentinien soll Geld senden können und oder vielleicht verkauft werden..

Neue Absprachen mit Hochschild  dienen vielleicht nicht nur der Kostenreduktion...  

Hey Leute..............bin eher ein Langfristinvestor.........Coca Cola,Procter Gample,Mcdonalds,Colgate;Johnson Johnson,Pepsi,Total,3M,Altria,Unilever.........usw..............a­ber Mcewen ist wirklich eine Spekulation wert.Natürlich nur mit einer kleinen Position...............Gruss an alle  

Die hatte ich vor Jahre auch Abonniert und waren nur solche Werte vorgeschlagen ;-) macht ja aber nix ist halt sehr konservative angelegt. LEX dagegen sehr sehr sehr spekulativ. Hier wird nur einer Reich, ich versuche inzwischen nur wieder gut raus zukommen, mit mind 100 % in 5 Jahren.

davon trãumen Banken in "guten Zinsphasen"...eher in 10 Jahren, das wären 7 % im Schnitt pro Jahr


.....hier kann es erheblich mehr werden......

SPEKULATIV ... muss aber klar sein!
 

richtig prima waere (aber), wenn LEX au-assets im paket an mcewen verkauft (oder erst abspaltet, dann verkauft ...) und baca dann (etwa unter alter firmierung, also lexam explo)  zusammen mit conoco auf die beine stellt. das wuerde dann auch vom portfolio wieder sinn/spass machen ... harry74nrw: zaeh bist du jedenfalls ... respekt.    

Nur die Harten kommen in den Garten

oder

no pain no gain..

usw

Schneefreien Feierabend  

einziger Goldwert den ich jetzt wegen der Zukunft (2 Jahre plus) kaufe.
Hat Potenzial ganz klar!!!  

https://event.on24.com/eventRegistration/...r&errorcd=loginfailed  

http://www.newswire.ca/en/webcast/play/1271301/1402005  

Bin mit 2000 St zu 1,489 EUR rein hier.
Wie sind die Chancen/Risiken?

Grüssle
Der Biker  

2 jahre liegen lassen  

http://bullmarketthinking.com/...-one-needs-to-protect-their-capital/

Q
Bullmarketthinking.com

auch als mp3  

bleibe jedenfalls weiter in LEX investiert.
Der Goldkurs könnte seine Konsolidierung (sichtbare W-Formation) bald abgeschlossen haben. Danach gehts kurstechnisch wieder aufwärts.

Respekt an alle Hardcore Investierten PV, Harry, ...

lg & schönes Wochenende
HR  

die Bewertung des ganzen Minensektors liegt historisch tief, man könnte in Charts und Zeitlinien nachziehen,
dann komm man bei unter 750 $ je Unze an, steht aber bei 1200 $.......

 

SK auf Tageshoch bei 1,88$
Heute sieht es vorbörslich auch gut aus, wäre schön wenn
der SK über 2$ liegen würde.

Hab letzte Woche zu den Schnäppchenkursen zugeschlagen.

 

Könnte im Jahresverlauf 50 % oder viel höher gehen, Potenzial ist vorhanden

Goldpreis muss nur mitspielen und weiter nach Norden ziehen , Kosten sind im Griff, keine Schulden!!

Lex + 20 %
GEG - 3 % ohne news... http://www.ginguro.com/news_list.html

 

@harry74nrw: was meinst du, sollte der Goldpreis weiter steigen, ist hier nicht auch schon kurzfristig ein kleiner short squeeze möglich?  

12 % plus finde ich schon gut...

Sollte Gold 1400 bis Jahresende stehen oder höher, dann stehen auch bei 2 € pkus x,

Nur meine Meinung, Banken sind hier als shorter bekannt, aber deren Macht sinkt sehr sehr langsam

Kurzum Bucks,  Substanz ist vorhanden mit viel up und wenig down potenzial

Harry  

.. bin hier auch sehr zuversichtlich und froh investiert zu sein. Da werden wir noch viel Freude daran haben.  

McEwen Mining Receives Final Environmental Permit for Construction and Operation of El Gallo 2 Project

TORONTO, ONTARIO - (January 21, 2014) - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that the Secretariat of Environment and Natural Resources (SEMARNAT) for the State of Sinaloa, Mexico, has approved the Company’s Change of Land Use application for El Gallo 2. This final environmental permit allows for the construction and operation of the proposed mine. El Gallo 2 is projected to produce an average of 95,000 gold eq. ounces per year (5.2 million ounces of silver and 6,100 ounces of gold) at an approximate cash cost of $750 per gold eq. ounce (including all pre-strip and Mexican royalties). All in sustaining costs have been estimated at approximately $800 per gold eq. ounce (including an estimated $5 million per year on exploration). Gold equivalent ounces are calculated by converting silver into gold using a 60:1 exchange ratio.

McEwen Mining and its engineering contractors are conducting on-going studies in order to reduce the estimated capital expenditures associated with El Gallo 2. The Company believes that approximately $20 million in capital costs can be reduced from previous estimates with minimal impact on production by: 1) reducing the number of leach tanks; 2) building a smaller Merrill Crowe process plant / refinery; 3) using modular crushers; and, 4) reducing the number of transformers. To date $10 million of the estimated final construction cost has been spent. With these projected savings and taking into account the funds spent to date, approximately $150 million would be required in order to complete the mine.  

Nix. Und wird es auch nicht mehr geben !!
Scheisse wollte hier nichts mehr schreiben. ...