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Sep 30, 2022
McEwen Mining Q3 2022 Earnings Report
McEwen Mining reported a net loss for Q3 2022, with production impacted by carbonaceous material at Gold Bar. However, cash cost/oz at Fox fell to its lowest since mid-2018, and the company completed an $82 million financing for McEwen Copper.
Key Takeaways
McEwen Mining reported its Q3 2022 results, showing a net loss of $10.5 million, or $0.21 per share. Production was 26,200 gold ounces and 852,200 silver ounces, or 35,700 gold equivalent ounces. The company is focused on improving operations and advancing its projects, including McEwen Copper's Los Azules project.
Cash and cash equivalents totaled $54.9 million at the end of Q3 2022.
Q3 production was 35,700 gold equivalent ounces, compared to 42,900 GEOs during Q3 2021.
Fox achieved the lowest quarterly cash cost since mid-2018 of $774 per GEO sold.
Consolidated net loss in Q3 was $10.5 million, or $0.21 per share.
Forward Guidance
The production guidance for 2023 is 150,000 to 170,000 gold equivalent ounces (GEOs).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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