McEwen Mining Inc. (TSX:MUX) investors were told Wednesday that the recently acquired Black Fox mining property (formerly Primero Mining Corp.) near Matheson, is on its way to becoming a sustainable cash-generating operation for the company.
The company also revealed that Chris Stewart is the new President and COO for McEwan. It was just a year ago this week that McEwen revealed it was setting out to purchase the gold mine near Matheson, with all its adjoining properties, for $35 million US. The deal went through last fall.
A statement from Andrew Elinesky, the company’s chief financial officer, as he provided an overview of finances and operations during the one-hour teleconference, indicated that McEwen is more than happy with the purchase. Continue Reading →