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UPDATE: McEwen Mining Reports Q4, FY 2012 Operational Results; Provides FY 2013 Production Guidance; Shares Up 3%

McEwen Mining Inc. (MUX.TO) said gold equivalent production in the fourth quarter totaled 32,220 ounces (17,578 gold ounces and 761,377 silver ounces). Full year production totaled 105,050 gold equivalent ounces (48,876 gold ounces and 2,921,242 silver ounces), meeting 2012 guidance.

Estimated 2013 production is expected to grow by 24% to 130,000 gold equivalent ounces (72,310 gold ounces and 3,000,000 silver ounces) at a cash cost between $800 - $900 per gold equivalent ounce.

MUX rose 3% to $2.81, trading near 52-week low $2.02.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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