McEwen suspends share distribution
Company News Release
TORONTO, March 07, 2019 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) has decided to suspend the distribution of ½ cent per share, which would have been paid on March 15th to shareholders of record on March 8th, 2019.
“We have experienced operating issues at our Black Fox Mine and with the startup of our Gold Bar Mine. While viewed as temporary, these issues have resulted in much lower revenue this quarter than planned. As a result, we decided the prudent and responsible course of action was to conserve our cash and suspend the distribution,” said Rob McEwen, Chairman and Chief Owner.
ABOUT MCEWEN MINING
McEwen has the goal to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas. McEwen’s principal assets consist of: the San José mine in Santa Cruz, Argentina (49% interest); the Black Fox mine near Timmins, Canada; the Fenix Project in Mexico; the Gold Bar mine in Nevada; and the large Los Azules copper project in Argentina, advancing towards development.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.