UPDATE: McEwen Mining Up Nearly 3% As Declares Commercial Production El Gallo Phase 1 in Mexico
McEwen Mining Inc. (MUX.TO) 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 went up by nearly 3% to $3.72 but is trading closer to year low $2.02. Over 17,000 MUX shares have changed hands.
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