McEwen Mining sees FY23 production 154,200 GEOs

McEwen Mining reported its consolidated production in the October-November period has increased to 29,600 gold equivalent ounces, a significant improvement over the first nine months of the year. In November, Gold Bar production increased to 7,800 gold ounces. As a result of the strong performance at Gold Bar, partially offset by slightly lower production at Fox and San Jose, forecast for the FY23 is now estimated at 154,200 GEOs. “Gold Bar has picked up the pace in the fourth quarter due to higher ore crushing rates combined with an expansion of the heap leach pad, which resulted in a large gold inventory on the heap leach pad starting to produce in October. Monthly production is projected to remain strong in December and into Q1 2024. The additional production from Gold Bar, combined with the announced flow-through equity financing for Fox exploration and development, puts us in a good financial position to enter 2024. Our focus is on driving continued operational improvements and growth projects across the organization,” commented Rob McEwen, Chairman and Chief Owner.