From GlobeNewswire:

McEwen Mining Inc. reported a net income of $54.7 million for full year 2023, a significant improvement from the previous year’s net loss. Gold production was slightly above guidance, but cash costs and AISC per ounce remained higher than expected.

McEwen Copper is a key focus for the company, with drilling operations underway to deliver a bankable Feasibility Study in Q1 2025. The subsidiary is backed by global giants Rio Tinto and Stellantis, and is designed for minimal environmental impact, striving for net-zero carbon by 2038.

Development projects at the Canadian Fox Complex and Mexican mines aim to extend mine lives by over 9 years. Fox Complex achieved record mill throughput in Q4, exceeding expectations. Gold Bar in Nevada saw improved production through Q4 despite initial weather setbacks, reaching record production levels.

San José in Argentina faced difficulties in 2023, but improvements led to consistent quarterly production and cost savings. Exploration activities indicate better-than-expected grades in 2024 production targets. McEwen Mining is optimistic about continued operational improvements and financial results in early 2024.

Financially, McEwen Mining recognized a gain of $224 million due to the deconsolidation of McEwen Copper after a financing agreement in October 2023. Investments and developments across their mining assets and subsidiaries show a strategic focus on growth and sustainability.



Read more at GlobeNewswire:: 2023 Year End and Q4 Results