McEwen Mining Inc. Announce Shareholder Update June 2012
23.06.2012 | ABN Newswire
09:34 AEST June 23, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.New York, United States (ABN Newswire) - McEwen Mining (NYSE:MUX) Announce Shareholder Update June 2012 with the El Gallo Complex development update and the McEwen Mining community story. Construction of Phase One at El Gallo is nearing completion and gold production is to commence on time and budget, in Third Quarter.
Key development highlights over the past two weeks are:
- Heap leach construction 75% complete
- Process plant construction 90% complete
- Mining at Samaniego open pit continues
- Generators for the crushers have been installed
- Crushers assembly nears completion
To view the El Gallo Development Photo Update, please click here.
http://media3.marketwire.com/docs/Photo_update.pdf
To view the McEwen Mining Community Story, please click here.
http://media3.marketwire.com/docs/Community_story.pdf
About McEwen Mining :
The goal of McEwen Mining (TSE:MUX) (NYSE:MUX) is to qualify for inclusion in the S&P 500 by 2015 by creating a high growth, low-cost, mid-tier silver and gold producer focused in the Americas. McEwen Mining's principal assets consist of the San José mine in Santa Cruz, Argentina (49% interest); the El Gallo Complex in Sinaloa, Mexico; the Gold Bar Project in Nevada, US; the Los Azules Project in San Juan, Argentina and a large portfolio of exploration properties in Argentina, Nevada and Mexico. In 2012, McEwen Mining is planning to spend approximately US$40 million on exploration.
McEwen Mining has 267,919,384 shares issued and outstanding. Rob McEwen , Chairman, President and CEO, owns 25% of the shares of the Company. As of March 31, 2012, McEwen Mining had cash and liquid assets of US$66.7 million, comprised of cash of US$41.1 million, silver and gold bullion at market value of US$21.4 million, short-term investments of US$3.1 million and marketable securities
Contact:
Jenya Meshcheryakova
Investor Relations
Tel: (647) 258-0395 ext 410
Toll Free: (866) 441-0690
Fax: (647) 258-0408
Mailing Address
181 Bay Street Suite 4750
Toronto ON M5J 2T3
P.O. Box 792
E-mail: info@mcewenmining.com
www.mcewenmining.com
Media:
Victor Webb
Marston Webb International
T: +1-212-684-6601
e-mail: marwebint@cs.com