TORONTO, Jan. 16, 2017 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce annual consolidated production in 2016 was 145,530 gold equivalent ounces(1) using a gold to silver ratio of 75:1, or 101,482 gold ounces and 3,303,709 silver ounces.
| 2016 Consolidated Production Summary | ||||||
| Guidance | 2016 | Q1 | Q2 | Q3 | Q4 | |
| Gold ounces | 99,500 | 101,482 | 28,975 | 27,888 | 24,281 | 20,337 |
| Silver ounces | 3,337,000 | 3,303,709 | 673,767 | 875,006 | 916,168 | 838,768 |
| Gold Eq. ounces | 144,000 | 145,530 | 37,958 | 39,555 | 36,496 | 31,521 |
Highlights
- Achieved gold and silver production in-line with guidance from our two producing mines.
- Doubled liquid assets during the year to $64 million(2) in cash, cash equivalents and precious metals, and no debt.
- 3rd semi-annual return of capital of ½ cent per common share will be paid on February 14th, 2017 to shareholders of record as of the close of business on February 3rd, 2017.