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McEwen Mining - Die letzten 30 Beiträge

ISIN: US58039P1075 | WKN: A1JS7T | Symbol: US8A
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MUX-US: Earnings Analysis: Q3, 2016
McEwen Mining, Inc. :MUX-US: Earnings Analysis: Q3, 2016 By the Numbers : November 18, 2016
November 18, 2016 by CapitalCube

McEwen Mining, Inc. reports financial results for the quarter ended September 30, 2016.

We analyze the earnings along side the following peers of McEwen Mining, Inc. – Yamana Gold Inc., Alamos Gold Inc., First Majestic Silver Corp. and Pilot Gold Inc. (AUY-US, AGI-US, AG-US and PLGTF-US) that have also reported for this period.

Summary numbers: Revenues of USD 13.42 million, Net Earnings of USD 4.21 million.

Gross margins narrowed from 40.80% to 32.86% compared to the same period last year, operating (EBITDA) margins now -3.80% from 23.82%.

Year-on-year change in operating cash flow of -54.47% is about the same as the change in earnings, likely no significant movement in accruals or reserves.

Earnings growth due to contribution of one-time items.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

Geht es in der angegebenen Zeit für MUX um die Aufnahme in den S&P 500 ?
Es wäre für alle Noch-Aktionäre, bestimmt sind einige durch den derzeitigen, auch nicht zu erwartenden, Kursverfall der Aktie bereits ausgestiegen, ein kleines Schmankel wenn es das sein sollte. :confused:

MUX in den S&P 500. :kiss:

Ist der heutige Kursanstieg der MUX-Aktie bereits die Folge, dieser eventuellen Spekulation ?


2,75 Euro +0,17 +6,59 -.-.-.-.-. 18:36 21.11.2016 | 18:21
(2 Leser)

Newsfile·Mehr Nachrichten von Newsfile
McEwen Mining, Gold, Silver and Copper in the Americas, CEO Clip Video

McEwen Mining is being featured on CBC's Documentary Channel, Nov 28-Dec 11, Monday through Friday, throughout the day and evenings.

McEwen Mining (TSX: MUX):

McEwen Mining's goal is to qualify for inclusion in the S&P 500 Index by creating a high growth, profitable gold and silver producer focused in the Americas and Europe. McEwen Mining's principal assets consist of the San José Mine in Santa Cruz, Argentina (49% interest), the El Gallo Mine and El Gallo Silver project in Sinaloa, Mexico, the Gold Bar project in Nevada, USA, and the Los Azules copper project in San Juan, Argentina. http://www.mcewenmining.com/

About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in the US and Canada. These 90 second video profiles broadcast on national TV and are distributed online on top financial portals including: Thomson Reuters, BNN.ca, and Stockhouse.com. They are also disseminated via a video news release to several financial portals including Globe Investor, OTC Markets, TMX Money MoneyThe National Post.

BTV - Business Television/CEO Clip Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

Alles was Rang und Namen bei Mc Ewen Mining hat, war anläßlich der Telefon-Konferenz da . . ..
. . . und gab Auskunft über das Unternehmen.

Die Telefon-Konferenz fand am 3.11. 2016 statt und hier ist das vollständige Frage- und Antwortspiel der leitenden Herren nachzuvollziehen.

Das Ergebnis des 3.Quaertals wurde ja, wie alle wissen, bereits veröffentlicht. Aber die weiteren und tiefergehenden Infos gibt es hier.

Die Veröffentlichung dieser Infos gab es erst heute und wie zu sehen ist, hat der Kurs von MUX danach wieder gedreht. Ob diese News das veranlasst hat ?

McEwen Mining's (MUX) CEO Rob McEwen on Q3 2016 Results - Earnings Call Transcript
Nov. 7, 2016 1:13 PM ET|
About: McEwen Mining Inc. (MUX)

Q3 2016 Earnings Summary


EPS of $0.01 | Revenue of $13.43M (- 40.3% Y/Y)

McEwen Mining Inc. (NYSE:MUX)

Q3 2016 Earnings Conference Call

November 3, 2016 11:00 ET


Rob McEwen - Chief Owner

Andrew Elinesky - CFO

Xavier Ochoa - President & COO



Good morning, ladies and gentlemen and welcome to the McEwen Mining Third Quarter 2016 Financial Results Conference Call. I would now like to turn the meeting over to Mr. Rob McEwen, Chief Owner. Please go ahead, Mr. McEwen.

Rob McEwen

Thank you, operator. Good morning, fellow shareholders and investors. Welcome to our third quarter 2016 conference call. We've produced another solid quarter, positive net cash flow, positive earnings, and we continue advancing our development projects: Gold Bar in Nevada, and El Gallo Silver in Mexico. I'm pleased to highlight that our balance sheet is clean and our treasury remains strong.

With me today to discuss our performance are Andrew Elinesky, our Chief Financial Officer, who will be discussing our financial performance along with Xavier Ochoa who joined us at the beginning of September as our Chief Operating Officer, and I'm pleased to say yesterday he was promoted to President and Chief Operating Officer of the Company. Xavier is a mining engineer with more than 25 years of experience in open pit and underground mine. He has held senior executive positions with Xstrata, Glencore, Barrick and Goldcorp. His outstanding record of delivering growth in operational excellence positions us well, as we prepare to leap forward with our development projects. Xavier will discuss our operational performance.

I'll now turn the conference call over to Andrew.

McEwen Mining appoints Ochoa president

2016-11-04 07:49 ET - News Release

Mr. Rob McEwen reports


McEwen Mining Inc. has appointed Xavier Ochoa as president and chief operating officer. Mr. Ochoa joined the company this past September, 2016, as McEwen Mining's COO (see news release dated Sept. 9, 2016).

The change in management represents a significant step toward reaching the company's operational goals and further advancing its portfolio of projects. Mr. Ochoa brings over 25 years of international experience in the mining industry, including senior management positions, where he was instrumental for leading project and operational teams, both underground and open pit.

In Mexico, the company has an extensive land package with numerous small-scale historic areas of mine production throughout the property package. A new geological interpretation making use of advanced geophysics and information collected from exploration work has been developed for the El Gallo property which confirms the geological potential. Recent work has demonstrated encouraging results at the El Encuentro-La Revancha zone (see news release dated Oct. 13, 2016). The company has recently begun to demonstrate the prospective nature and potential longevity of mining within the El Gallo district. Under Xavier's direction, the company will continue to implement this program with the goal of extending the mine life at the El Gallo complex.

At the El Gallo silver project, the company is revisiting the project and conducting new studies to improve the project economics in light of current silver prices and its continuing exploration program on the El Gallo district.

Mr. Ochoa will continue to oversee the advancement of the permits required for a speedy construction decision of the company's Gold Bar project in Nevada while implementing the continuing work program to improve the economics of the large Los Azules copper project in Argentina.

"At McEwen Mining, we believe in constant innovation and a vision of aggressively growing shareowner value. Xavier is a mining engineer with a strong record of enhancing production, reducing operating costs and creatively improving capital efficiency. Having worked for several large companies in the past such as Xtrata, Goldcorp, Barrick and Glencore, I believe Xavier has the skill set and meets the needs to be very effective in his new role," commented Rob McEwen, chief owner.

About McEwen Mining

McEwen Mining's principal assets consist of the San Jose mine in Santa Cruz, Argentina (49-per-cent interest), the El Gallo mine and El Gallo silver project in Sinaloa, Mexico, the Gold Bar project in Nevada, United States, and the Los Azules copper project in San Juan, Argentina. Mr. McEwen owns 25 per cent of the company.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

TORONTO, Nov. 03, 2016 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce consolidated quarterly production of 36,496 gold equivalent ounces(1), comprised of 24,281 ounces gold and 916,168 ounces silver. For the three and nine months ended September 30, 2016, the Company reported net income of $4.2 million(2) or $0.01 per share and $25.5 million or $0.09 per share, respectively. Earnings from mining operations(3) were $18.9 million and $57.7 million over the same periods. Net income for the three months ended September 30, 2015 was $2.6 million or $0.01 per share and net loss for the nine months ended September 30, 2015 was $5.5 million, or $0.02 per share.

For the three and nine months ended September 30, 2016, the Company generated $4.9 million and $24.4 million of net cash flow from operations, respectively. We ended the third quarter of 2016 with liquid assets(3) of $62.5 million composed of cash of $38.8 million, precious metals of $16.6 million and marketable securities of $7.1 million. The Company has no debt, and has not done any financings, sold any metal streams, royalties, or hedges against precious metals. As at October 31, 2016 we had liquid assets of $60.3 million.

Our 2016 production guidance remains 99,500 gold ounces and 3.3 million silver ounces, or approximately 144,000 gold equivalent ounces. However, we are reducing our original guidance for total cash costs and all-in sustaining costs (“AISC”) from $780 and $935 per gold equivalent ounce, respectively, to $700 and $860. This is attributable to the reduced cost levels at the El Gallo Mine in the first nine months, which we expect to continue for the rest of this year.

In addition, the Company announces the promotion of Xavier Ochoa from Chief Operating Officer to President and Chief Operating Officer, effective immediately. Simultaneously, the Company announces the departure of its former President, Colin Sutherland.

The tables below provide selected operating and financial results for Q3, comparative results for Q3 2015, and our production and cost guidance for full year 2016. For our SEC Form 10-Q Financial Statements and MD&A please refer to:

Past 3 Quarter Analysis for McEwen Mining Inc. (NYSE:MUX)
By Troy Mann - November 1, 201643

McEwen Mining Inc. (NYSE:MUX) moved up 4.17% and closed its last trading session at $3.25. This Basic Materials Sector stock currently has the Market Capitalization of 926.87 Million. The Average Volume for the stock is measured as 4.18 Million. The Stock has a 52-Week High of $4.92 and 52-Week Low of $0.79 following the dates, it touched its 52-Week High on Jul 11, 2016 and 52-Week Low on Nov 6, 2015. Currently, the Return on Assets value for the trailing twelve months is 1.8% with the Return on Equity and Return on Investment of 2.1% and -5.9% respectively. This firm currently has YTD (year to date) performance of 208.19 Percent which is awesome. The Short Ratio for the stock is 7.38.

McEwen Mining Inc. (NYSE:MUX) Price to Earnings (P/E) ratio is 108.33. EPS or Earning per Share stands at $0.03. The TTM operating margin is -12.4 percent.

McEwen Mining Inc. (NYSE:MUX) reports its Earnings on Thu 3 Nov (In 2 Days). The estimated EPS for the current quarter is said to be $. Following Earnings result, share price were UP 8 times out of last 16 Qtrs. The stock has reduced about -30.5% since it reported its last earnings. The Closing price of McEwen Mining Inc. (NYSE:MUX) at Last Earnings was $4.49 as compared to the previous closing price of $3.08. The Predicted Move on the 7th day after McEwen Mining Inc. (NYSE:MUX) will release its earnings at about 8%.

By Looking at Earnings History, Out of 12 Quarters when the Earnings were reported, McEwen Mining Inc. (NYSE:MUX) beats earnings by 0%, The Stock Missed Earnings 0 times and has met earnings 0 times.

Earnings History:

We will discuss the past Quarters Earnings below:

McEwen Mining Inc. (NYSE:MUX) reported its previous quarter on 08/03/2016. The Closing price before the company posted its earnings was $4.49. The Stock declined on the very next day of earnings and maintained its stock price at $4.39 by showing a % change of -2.23 percent from its previous closing price. The Next Day Volume after Earnings was reported as 2.48 Million. On the 7th day After Earnings Report, the stock hit its share price as $4.34 by showing -3.34% decrease from the Stock price Before Earnings were reported.

Company Profile:

McEwen Mining Inc. explores for, develops, produces, and sells precious and base metals in Argentina, Mexico, and the United States. It primarily explores for gold, silver, and copper. The company’s principal assets consist of a 49% interest in the San José Mine in Santa Cruz, Argentina; the El Gallo 1 mine and El Gallo 2 project in Sinaloa, Mexico; the Gold Bar project in Nevada, the United States; and the Los Azules copper project in San Juan, Argentina. It covers an area of approximately 730 square miles and comprises 146 mining concessions consisting of 71 approved mining claims; 54 claims that are in the application process for mining claim status; and 21 claims, principally that are for exploration only. The company was formerly known as US Gold Corporation and changed its name to McEwen Mining Inc. in January 2012. McEwen Mining Inc. was founded in 1979 and is headquartered in Toronto, Canada.
Antwort auf Beitrag Nr.: 53.559.735 von meichel am 26.10.16 18:59:36Für mich ein ganz gewichtiger Grund wieso ich hier investiert bin!

In conclusion, Mr. McEwen said, “I have invested a lot of personal money, $127 million, in this company with the objective of significantly increasing its value to our share owners and myself. I do not take a salary, nor do I receive a bonus so I will only make money the same way my fellow share owners do with an increasing share price.

Naja, etwas mehr hätte es schon sein können.
Das es diesmal weniger werden würde, hat man ja schon kommuniziert, aber über 5k weniger überrascht mich schon.

Das 4. Quartal soll ja wieder besser werden. Erst bei besseren Zahlen wird auch der Kurs wieder nach Norden gehen, aber erst dann. Rob braucht halt seine Zeit um die Förderung nach oben zu bringen.

McEwen Mining produces 36,496 oz AuEq in Q3 2016

2016-10-13 06:42 ET - News Release

Ms. Christina McCarthy reports


McEwen Mining Inc.'s total production for the third quarter was 36,496 gold-equivalent ounces using a gold-to-silver ratio of 75 to 1, or 24,281 gold ounces and 916,168 silver ounces. Production is on target to achieve our 2016 guidance of 144,000 gold equivalent ounces, or 99,500 gold ounces and 3,337,000 silver ounces.

2016 Consolidated Production Summary

Guidance YTD Q1 Q2 Q3
Gold ounces 99,500 81,145 28,975 27,888 24,281
Silver ounces 3,337,000 2,464,941 673,767 875,006 916,168
Gold Eq. ounces 144,000 114,009 37,958 39,555 36,496

San Jose Mine, Argentina (49%) (1)

The San Jose Mine produced 12,527 gold ounces and 909,017 silver ounces attributable to us in Q3, for a total of 24,647 gold equivalent ounces. Year-to-date the San Jose Mine produced 33,839 gold ounces and 2,443,527 silver ounces attributable to us, for a total of 66,419 gold equivalent ounces. Full year production guidance for San Jose in 2016 is 45,000 gold ounces and 3.3 million silver ounces, for a total of 89,000 gold equivalent ounces attributable to us.

El Gallo Mine, Mexico (100%)

The El Gallo Mine performed as expected in Q3, producing 11,849 gold equivalent ounces. Production in Q3 was lower than the prior quarter due to lower ore grades, as we previously forecast (1.4 gpt in Q3 2016 vs. 2.3 gpt in Q2 2016). Year-to-date the El Gallo Mine produced 47,590 gold equivalent ounces. Full year guidance for El Gallo is 55,000 gold equivalent ounces.

Mexico Exploration Update

The 2016 exploration budget for Mexico is $4 million. Exploration drilling in the district around our El Gallo Mine has been concentrated primarily on three prospective areas; one area called Encuentro South has returned particularly encouraging results at shallow depths. Highlights are summarized below:

Hole ID Gold Grade (gpt) Intercept Width (m)

Den Rest der News findet ihr hier:

Wer es bisher noch nicht gemacht hat, soll sich einfach die Situation . . . .
. . . . zur Zeit ansehen und auf Edelmetalle setzen. Allerdings ist das nur m.M.

Es ist kein Aufruf von mir Edelmetalle zu kaufen, aber schaut es euch einfach nur an, was jetzt in der Welt alles passiert.

Hoffen wir das Beste und bereiten uns auf das Schlimmste vor - 09.10.2016

Sehr geehrte Damen und Herren,

Lassen Sie mich zunächst auf die Bedrohung des Bargeldes eingehen, bevor ich auf weitere mich beunruhigende Entwicklungen sowie die aktuelle Lage bei Gold und Silber nach der von uns erwarteten Korrektur zu sprechen komme. Vorausschicken will ich, dass ich mich sehr freue, auf der kommenden Edelmetallmesse am 3. November um 17:10 Uhr in München sprechen zu dürfen.

Jetzt das Bargeld und bald das Gold

Viele fragen mich, warum ich derzeit so viel Zeit in die Arbeit als Vorsitzender des gemeinnützigen Vereins Pro Bargeld - Pro Freiheit e.V. stecke. Insgesamt an 9 Tagen werden wir immerhin wie erstmals am 4. Mai 2016 an der Konstabler Wache für die große Kundgebung am Samstag, den 22. Oktober 2016, ab 14 Uhr auf der Hauptwache in Frankfurt werben. Wir werden auch drei Geldtransporter dank der Unterstützung der drei größten Werttransportunternehmen auffahren. Ich freue mich besonders, dass wir neben Prof. Joachim Starbatty den ehemaligen Partner der Börsenlegende Andre Kostolany, den Kapitalmarktexperten Gottfried Heller, gewinnen konnten.

Mehr dazu unter:

Der neueste Newsletter wurde gestern, am 9.10.2016, veröffentlicht. H

MsEwen Mining hat anläßlich der Denver Show, am 19. Sept. 016 eine neue Präsentation ins Netz gestellt.


Wenn auch in diesem Jahr die Edelmetall-Produktion rückläufig ist und im nächsten Jahr stagniert, hier kann man dann sehen, das es in den ab 2018-er Jahren wieder nach oben gehen wird. Gönnen wir MUX die Zeit die es für diesen Sektorensprung benötigt.

S&P wir kommen.
Vielleicht gelingt es ihm ja, das MUX es im nächsten Jahr schafft, in den S&P 500 aufgenommen zu werden.
Robert McEwen: Why my dream is getting into S&P 500

The gold tycoon updates us on his projects and reminds us why he's so keen on seeing McEwen Mining included in America's stock benchmark.
Für Rob ist es egal wer in den USA die Wahl gewinnen wird, beide werden dafür . . .
. . . Sorge tragen, dass die Edelmetalle noch in diesem Jahr steigen werden.

Ich gönn es ihm denn ich profitiere dann ja auch.

Gold Bull McEwen Sees Prices as High as $1,900 by End of Year

Bullion ‘is a currency that doesn’t have a liability attached’
Either Trump or Clinton victory is positive for gold: McEwen

Robert McEwen, one of the gold’s industry’s most unabashed bulls, is predicting prices could surge as much as 44 percent by the end of the year as confidence in the economy buckles.

The metal could trade in a range of $1,700 an ounce to $1,900 by the end of 2016 as uncertainty builds around the stability of global currencies and sovereign debt, said McEwen, who’s so enamored by bullion that he’s founded two producers: McEwen Mining Inc. and Goldcorp Inc. Record-low global interest rates will cause a “huge amount of anxiety” for investors, who will turn to gold as a store of value and an alternative asset, he said.

Gold “is a currency that doesn’t have a liability attached to it,” McEwen said Tuesday in an interview at a gold conference in Colorado Springs. “A store of value that has gone for millennia. And the big argument against gold used to be it costs you money to store it. Right now, it’s costing you money to store your cash.”

In New York, gold futures for December delivery settled little changed at $1,318.20 on the Comex. Prices have climbed 24 percent so far this year, this biggest gain for this point in the calendar since 2011.
Silber 2,5% im Plus , Gold im Plus aber McEwen im Minus. Hab heute noch mal aufgestockt, mal sehen wie ich aus der Sache rauskomme. Silberproduktion macht schließlich einen bedeutenden Anteil an McEwens Einkünften aus.
Das 1000. Posting
Mit diesem Posting will ich mir mal selbst die Ehre geben, daß 1000. Posting zu schreiben :cool: :


These 3 Stocks Have Doubled Their Investors' Money
In the span of just one year, these three companies generated returns in excess of 100%.
Rich Duprey
Sep 17, 2016 at 11:07AM

There's more than one way to skin a cat, and more than one path a company can follow to double an investor's money in the course of a year. These three companies, have managed to do just that, despite blazing different paths to the same end. Going their own way in helping shareholders enjoy returns in excess of 100%.

. . .
All that glitters is gold... and silver

The rebound in precious metals has benefited metals miner McEwen Mining (NYSE:MUX) and silver streamer Silver Wheaton (NYSE:SLW), which have risen by 347% and 131%, respectively, over the past year. In that same time span, gold has jumped 20% in value, while silver has surged more than 30%. Certainly, the higher prices for the yellow and gray metals helped spur the companies higher, but there's also obviously more at play than just that.

For McEwen, much of the gains it generated were predicated on having produced more gold earlier in the year as a result of improvements made at its San Jose site in Argentina, while also significantly reducing its all-in sustaining costs (AISC) there and at its El Gallo project in Mexico. Second-quarter results weren't quite as dramatic as they were in the first, and McEwen's stock has lost a quarter of its value since its 52-week high last month. However, with AISC continuing to fall, no debt on its balance sheet, and higher gold prices leading to an early payback on its advanced-stage Gold Bar project in Nevada, McEwen Mining may yet test new highs.
. . .

Antwort auf Beitrag Nr.: 53.266.077 von boersentrader02 am 13.09.16 12:58:33
das war nicht
spektakulär, bzw. keine Erklärung zu Deiner Aussage aus Post # 995 (53.261.133 , nur weil der Kurs,- wie die anderen Goldminenwerte übrigens auch, mal etwas im Rahmen einer Tagesvolatilität angestiegen ist, nachdem die Goldminen-Werte vorher ordentlich Federn lassen mussten die letzten Wochen.
Antwort auf Beitrag Nr.: 53.261.133 von boersentrader02 am 12.09.16 20:00:58
Zitat von boersentrader02Alle die jetzt aus dem Wert aussteigen haben keine Courage.

Der Kurs wird wieder nach oben gehen, wo er auch hingehört.

Dies sind halt Kurse um kleinere Käufe zu wagen.

begründest du deine Aussage, bzw. von welchem Zeitraum redest du ?
Antwort auf Beitrag Nr.: 53.261.133 von boersentrader02 am 12.09.16 20:00:58Es ist immer wieder erstaunlich wie MUX Rückschläge ausgleicht obwohl AU/AG sogutwie +/- Null tendiert. MUX Langfristanlage pur.
Antwort auf Beitrag Nr.: 53.247.819 von Force8 am 09.09.16 20:25:00Logisch ist das alles nicht. guck mal wo Kinross vor paar Wochen stand als der Goldpreis in dieser Höhe war. Viel höher. Das versteh wer will.....
Antwort auf Beitrag Nr.: 53.247.666 von marstru am 09.09.16 19:58:14
Ich bin
vor ein paar Tagen mit etwas Gewinn aus diesem Wert raus, da derzeit die Goldminenaktien unberechenbar sind und in keinem Verhältnis zum Goldpreis agieren.

War zwar nur eine kleine Position im Gegensatz zu meinen KINROSS, die ich noch im Depot habe, aber bin mit PLUS raus, statt jetzt im Minus.

Ich glaube ja nicht an diese " Weisheiten " mit denen man versucht alles zu begründen.... Sommerpause, Sommerloch, September-Crash usw.

Für jeden Monat ( Jahreszeit ), sucht man sich eine erklärende Weisheit....
Ist das schon der übliche Septembercrach
da fällt Gold ein wenig (Dollar) oder stabil in Euro und alle wollen aus Aktien raus? Ich sehe schon, ich werde meine McEwen Aktien 10 Jahre halten müssen. Ob dann Robert McEwen immer noch CEO ist?
Schau an, schau an, so langsam holt sich ROB einen nach dem anderen aus dem alten Team von der der Goldcorp
in das Team der McEwen Mining.

Das könnte eventuell dafür sprechen, das eine ähnliches Unternehmen vonRob geformt wird, wie es die Goldcorp jetzt ist, vielleicht.

McEwen Mining Appoints New Chief Operating Officer

McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce the appointment of Xavier Ochoa as Chief Operating Officer (“COO”), effective immediately and the departure of the Company’s current COO, William Faust effective September 30, 2016. Mr. Ochoa is a seasoned executive, bringing more than 25 years of operational experience to the McEwen team and will be instrumental in the continued growth and development of our projects.

Rob McEwen, CEO and Chairman of McEwen Mining stated: “We would like to welcome Xavier to the team; he has an outstanding track record delivering growth and operational excellence globally. He brings to this position a strong reputation for managing underground and open pit operations in a variety of jurisdictions, and has a proven track record in enhancing production, reducing operating costs and improving capital effectiveness. We continue to strengthen our management team as we advance our assets with the primary goal of enhancing shareowner value.”

Mr. Ochoa joins McEwen having previously held senior executive positions with other multi-national mining companies. Most recently, he held the position of Mine General Manager at Goldcorp’s Cerro Negro operation in Santa Cruz, Argentina, where he was responsible for the successful underground mine commissioning, and leading an operating team of 1,600 people. Prior to this, he was the General Manager at the Tintaya and Antapaccay Copper Mines for Glencore and Xstrata in Peru, leading the commissioning and ramp-up of a 70,000 tonne per day processing plant. Mr. Ochoa also held the roles of General Manager and Engineering Manager at El Pachon in Argentina and Chile for Xstrata where he led the engineering efforts to advance the projects to feasibility study levels. Mr. Ochoa holds a Bachelor of Science in Mining Engineering from the University of Arizona in Tucson, Arizona.

We would like to thank Mr. William Faust for his valuable contribution to McEwen Mining. Mr. Faust will be pursing new opportunities following a transition period, and we wish him all the best in his future endeavors.


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