McEwen Mining is on track to deliver the production of 130,000 of gold equivalent ounces in 2013. Gold likes Janet Yellen at the FED now and Los Azules copper developments can make the short sellers nights sleepless.
McEwen Mining & TNR Gold: Chinese giants poised to go head to head in battle for $5.9bn Las Bambas mine MUX, TNR.v
"We have more news coming out of London on the Las Bambas copper mine bidding war. More reports are coming out now with the positive outlook for copper as well, but the most important in any market is the money talk and now the real money has been put on the table. Only one buyer will be successful in this bidding war and it will bring industry attention to Los Azules copper project with the valuation catalyst for McEwen Mining and TNR Gold. Lumina Copper recent advance with its Taca Taca copper project also located in Argentina is the very good sign of things to come here."
Los Azules Copper, McEwen Mining and TNR Gold: Lumina Copper Surged 63% From August Low MUX, TNR.v, LCC.v, GDX
"Lumina Copper has become one of our main success stories this summer which we have shared with our fellow travelers. As you know, we are not giving any investment advice here and our observations of the markets and trends will stay only observations until Mr Market will make up his mind. Please read our full legal disclaimer.
With Lumina Copper we have noticed the catalyst when Ross Beaty has increased his 22% in the company and bought 1 million worth of shares this summer. For us it is our "Dream Team" with Tenke Mining all over again: one of the best mining leaders at the helm with his personal wealth at stake, goods are there - safely in the ground - and the valuation is extremely distorted by the political risk perception.
The dive in commodity prices did not help the valuation in the first half of the year either. The fear of dramatic slowdown in China was hanging over the market. Then we have news start to flow from Clencore:"
McEwen Mining's Q3 output up 47% y-on-y
By: Henry Lazenby
15th October 2013
TORONTO (miningweekly.com) – Precious-metals miner McEwen Mining has increased its third-quarter output from its two operations in Mexico and Argentina by 47% year-on-year to 36 495 gold-equivalent ounces, boosted by higher grades and recoveries from the San Jose mine.
During the quarter ended September 30, the company’s total production included 20 483 oz of gold and 832 594 oz of silver, which was a 2% improvement on the second quarter ended July 31.
At the 49%-owned San Jose operation, of which joint venture partner Hochschild Mining owns the other 51%, McEwen’s share of the output totalled 12 549 oz of gold and 827 726 oz of silver.
The gold grade improved 25% year-on-year to 6.59 g/t, and the silver grade rose 11% to 446 g/t. Gold recoveries were up 2.6% to 91.9% and silver recoveries rose 1.6% to 89.5%.
At the wholly owned El Gallo Phase 1 mine, McEwen produced less gold and silver than in the second quarter, recording lower grades and less ore production.
The mine produced 7 934 oz of gold and 4 868 oz of silver, resulting in a 6% quarter-on-quarter drop in gold-equivalent output to 8 028 oz for the period.
Chief owner Rob McEwen said the company remained on track to produce 130 000 gold-equivalent ounces in 2013.
Edited by: Creamer Media Reporter"
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