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McEwen reports 113% increase in gold equivalent production for Q2 2021

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(Kitco News) - Today, McEwen Mining (NYSE: MUX) (TSX: MUX) announced its consolidated production for Q2 2021 of 31,700 gold ounces and 611,800 silver ounces, or 40,800 gold equivalent ounces ("GEOs"), which is 113% higher compared to 19,200 GEOs produced in Q2 2020.

According to the company's statement, during the quarter, the Gold Bar mine in Nevada, USA, produced 14,100 GEOs, compared to 6,100 GEOs in Q2 2020.

The Black Fox mine in Ontario, Canada, produced 7,100 GEOs during the period, compared to 2,200 GEOs for Q2 2020. Mining at Black Fox has begun transitioning to the Froome deposit, where a progressive ramp-up is planned through Q3, with commercial production expected in Q4, the company added.

During Q2, the San José mine in Argentina, 49% owned by McEwen Mining, produced 9,300 gold ounces and 607,000 silver ounces, for a total of 18,300 GEOs, compared to 9,000 GEOs in Q2 2020. The company said it received $2.5 million in dividends during the quarter.

In Q2, the El Gallo mine in Mexico produced 1,300 GEOs from residual leaching of the heap leach pad. The company said that overall, production from its operations is on track with McEwen's previously announced 2021 production guidance.

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