McEwen Mining re-starts Black Fox operations

Black Fox gold mine near Timmins, Ontario. (Image courtesy of McEwen Mining)

McEwen Mining (NYSE: MUX, TSX: MUX) reported on Tuesday it is reopening its Black Fox mine in northern Ontario that was temporarily shut down due to covid-19 restrictions. In Q1, Black Fox produced 8,328 gold equivalent ounces.

McEwan also reported consolidated production of 29,177 gold ounces and 553,179 silver ounces, or 35,062 gold equivalent ounces at the average gold-silver price ratio for the quarter.

The San Jos?(C) mine in Argentina produced 8,993 gold ounces and 551,872 silver ounces in Q1, the company said.

McEwan's stock traded up 8.4% on midday Tuesday on the TSX. The company's market value is $395 million.