Mining Minutes
McEwen Mining: Black Fox, Gold Bar Mines Finish 1Q On Strong Note
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McEwen Mining Inc. (NYSE, TSX: MUX) reports that production picked up at some of its mines over the course of the first quarter, with consolidated production finishing at 26,789 gold ounces and 703,217 silver ounces, or 36,166 gold-equivalent ounces. The gold output was down from 35,069 ounces in the same period a year ago, while the silver output was up from 695,651. Rob McEwen, chairman and chief owner, says that after a “tough start to the year,” the Black Fox and Gold Bar Mines finished the first quarter strongly. “In March, gold production improved significantly at Black Fox, allowing us to achieve 93% of our budgeted production for the quarter,” he says. “The issues that pushed the start-up of commercial production at Gold Bar from Q1 into Q2 have largely been resolved. The San José and El Gallo mines are performing well and are on-track to deliver over 50% of our planned 2019 production of 205,000 gold-equivalent ounces.”
By Allen Sykora of Kitco News; asykora@kitco.com
Royal Gold Reports Quarterly Sales
Tuesday April 9, 2019 08:18
Streaming company Royal Gold, Inc. (Nasdaq: RGLD) says its wholly owned subsidiary, RGLD Gold AG, sold approximately 60,000 gold-equivalent ounces during its fiscal third quarter that ended March 31. This included some 48,000 gold ounces, 510,000 silver ounces and 1,200 tonnes of copper. The company had some 33,000 gold-equivalent ounces in inventory at the end of the third quarter, consisting of 25,000 gold ounces, 590,000 silver ounces and 400 tonnes of copper. RGLD Gold AG’s average realized gold, silver and copper prices for the quarter were $1,303 per ounce, $15.51 per ounce, and $6,051 per tonne ($2.74 per pound), respectively, compared to $1,219, $14.45, and $6,092 ($2.76 per pound), respectively, in the second quarter that ended Dec. 31.
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