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McEwen Mining Declares Commercial Production El Gallo Phase 1 in Mexico

By: MT Newswires
Posted: 1/9/2013 8:04:00 AM
Referenced Stocks: MUX

McEwen Mining Inc. ( MUX ) has "successfully" achieved commercial production at El Gallo Phase 1 in Sinaloa State, Mexico on January 1, 2012.

Subsequent to the first pour, the mine has been steadily increasing mine, crusher and leaching production and is now operating at 90% of the designed capacity. Final ramp-up is expected to be achieved during the First Quarter.

El Gallo Phase 1 is forecasted to produce approximately 30,000 ounces in 2013.

MUX was unchanged at $3.70 in the after-hours market.