McEwen says production trending towards midpoint of full-year guidance range
Americas-focused gold and silver producer McEwen Mining produced 30 400 gold-equivalent ounces (GEOs) in the quarter ended September 30, compared with the 30 400 GEOs produced in the third quarter of 2020.
Production for the nine months to September 30 reached 114 300 GEOs, compared with the 85 700 GEOs produced in the prior comparable period.
"2021 production is trending towards the midpoint of the guidance range for the year," the company notes.
Guidance for the year was set at 141 000 to 160 400 GEOs.
OPERATIONAL BREAKDOWN
The Fox Complex, in Timmins, Canada, produced 8 300 GEOs in the third quarter, compared with 5 800 GEOs in the third quarter of 2020.
McEwen notes that mining at the complex has transitioned to the Froome deposit, where commercial production started in September - three months ahead of schedule.
The underground infrastructure at Froome is expected to be fully developed by June 2022.
Further, output at the Gold Bar mine, in Nevada, in the US, produced 12 400 GEOs in the quarter under review, compared with 6 800 GEOs in the prior comparable period.
McEwen reports that the permitting process to access ore at the Gold Bar South deposit has progressed well, with authorisations now expected to be received in the fourth quarter of this year.
The company is planning for gold production from the deposit to start in the second half of 2022.
The El Gallo project, in Sinaloa, Mexico, produced 560 GEOs from residual leaching of the heap leach pad in the third quarter.
McEwen's 49%-owned San José Mine, in Santa Cruz, Argentina, produced 21 600 GEOs in the third quarter, compared with 15 900 GEOs in the prior comparable period.
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