McEwen Mining Reports Record Production in 2015, Q4 Production Results and 2016 Outlook

http://globenewswire.com/news-release/2016/01/13/801606/0/en/McEwen-Mining-Reports-Record-Production-in-2015-Q4-Production-Results-and-2016-Outlook.html

TORONTO, Jan. 13, 2016 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce record annual production in 2015, solid fourth quarter production results, and the outlook for 2016.

Highlights

  • 22% increase in production year-over-year to 154,529 gold equivalent ounces(1) in 2015.
  • New pro-business government elected in Argentina, positive policy changes already enacted.
  • 4.2 grams per tonne (gpt) average crushed gold grade at El Gallo Mine in Q4 2015 vs. 2.3 gpt in Q3 2015.
  • Production guidance of 141,000 gold equivalent ounces in 2016.
  • No debt(2), $5.2 million line of credit repaid in full.
  • $32 million(2) in cash, cash equivalents and precious metals.
  • 2nd semi-annual return of capital of $0.005 per common share will be paid on February 12th, 2016 to shareholders of record at the close of business on February 3rd, 2016.

 

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