NetworkNewsBreaks – McEwen Mining Inc. (NYSE: MU
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Posted On: 01/29/2025 5:29:41 PM
NetworkNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Reports 2024 Production Within Guidance; Sets 2025 Outlook; Makes Strategic Investment in Goliath Resources
McEwen Mining (NYSE: MUX) (TSX: MUX), announced full-year 2024 consolidated production of 135,900 gold equivalent ounces (“GEOs”), aligning with its annual guidance. Gold Bar and San José mines exceeded expectations with 44,600 and 60,100 GEOs, respectively, while the Fox Complex fell short at 30,150 GEOs due to a stope failure in early 2024. For 2025, MUX projects production between 120,000 and 140,000 GEOs, influenced by the transition at Fox from the Froome mine to the Stock mine, which is now expected to reach commercial production in early 2026. Gold Bar’s production will be weighted toward the second half of the year as high waste stripping in the Pick pit concludes, setting up stronger ore availability for late 2025 and 2026.
MUX is further strengthening its position in the gold sector through a C$10 million strategic investment in Goliath Resources Ltd. (TSX.V: GOT) (OTCQB: GOTRF) (FSE: B4IF), acquiring 3.76% of the company’s outstanding shares. The deal underscores MUX’s interest in Goliath’s Surebet high-grade gold discovery in British Columbia’s Golden Triangle, a prolific mining jurisdiction. In return, Goliath Resources will own 868,056 shares of MUX, aligning both companies in their exploration and mining efforts. MUX Chairman Rob McEwen emphasized the potential of Surebet’s high-grade gold system, noting its rapid advancement and the region’s history of significant discoveries. Meanwhile, MUX continues advancing its own operations, including an updated resource estimate for the Fox Complex in early 2025 and a large-scale drilling campaign supporting its gold and copper projects.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://nnw.fm/MUX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
McEwen Mining (NYSE: MUX) (TSX: MUX), announced full-year 2024 consolidated production of 135,900 gold equivalent ounces (“GEOs”), aligning with its annual guidance. Gold Bar and San José mines exceeded expectations with 44,600 and 60,100 GEOs, respectively, while the Fox Complex fell short at 30,150 GEOs due to a stope failure in early 2024. For 2025, MUX projects production between 120,000 and 140,000 GEOs, influenced by the transition at Fox from the Froome mine to the Stock mine, which is now expected to reach commercial production in early 2026. Gold Bar’s production will be weighted toward the second half of the year as high waste stripping in the Pick pit concludes, setting up stronger ore availability for late 2025 and 2026.
MUX is further strengthening its position in the gold sector through a C$10 million strategic investment in Goliath Resources Ltd. (TSX.V: GOT) (OTCQB: GOTRF) (FSE: B4IF), acquiring 3.76% of the company’s outstanding shares. The deal underscores MUX’s interest in Goliath’s Surebet high-grade gold discovery in British Columbia’s Golden Triangle, a prolific mining jurisdiction. In return, Goliath Resources will own 868,056 shares of MUX, aligning both companies in their exploration and mining efforts. MUX Chairman Rob McEwen emphasized the potential of Surebet’s high-grade gold system, noting its rapid advancement and the region’s history of significant discoveries. Meanwhile, MUX continues advancing its own operations, including an updated resource estimate for the Fox Complex in early 2025 and a large-scale drilling campaign supporting its gold and copper projects.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://nnw.fm/MUX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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