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McEwen Mining Reports Net Loss In First Quarter

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(Kitco News) - McEwen Mining Inc. (NYSE, TSX:MUX) reports a first-quarter net loss of $5.2 million or 2 cents per share, compared to a loss of $3 million, or a penny, in the same period a year ago. However, earnings from mining operations climbed to $12.4 million from $8.2 million. The company lists production of 44,344 gold-equivalent ounces, in line with its expectations and up from 29,733 in the same period a year ago. Full-year guidance is 171,000 gold-equivalent ounces. As of April 30, the company had cash, investments and precious metals of $47 million and no debt.

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