hi , some words from our beloved CEO ; nothing really new . I will read the report this evening . -)
McEwen expects stable output, lower costs at San José
 Source: AFP McEwen Mining expects stable production at its 49%-owned San José gold-silver mine in Argentina in 2016, while costs may decline.
Output is expected around 180,000oz gold equivalent, which could change depending on how the gold-to-silver price ratio fluctuates, CEO Rob McEwen told BNamericas. The company is currently using a 75:1 price ratio, he added.
San José, in Santa Cruz province, is operated by 51%-owner Hochschild Mining. McEwen's attributable production from the mine is expected at 87,800oz gold equivalent in 2015, comprising 46,500oz gold and 3.1Moz silver.
All-in sustaining costs are expected to average US$1,225/oz gold equivalent this year, on a co-product basis.
Costs are expected to improve in 2016, McEwen said, helped by the ending of foreign exchange controls by new President Mauricio Macri.
Under the previous government, of Cristina Fernández de Kirchner, the peso was pegged to the US dollar and held artificially high.
In other countries, such as Mexico, where McEwen has the El Gallo gold-silver mine, currency depreciation has reduced production costs significantly in dollar terms.
Toronto-based McEwen also has the Los Azules copper deposit in Argentina, where it is investigating a reduced capex project, and the El Gallo 2 silver project in Mexico and the Gold Bar project in the US. |
