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| Statement |
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| And then the second is the turnaround in our gold and silver assets that are delivering positive cash flows and financing our exploration programs there |
| Not only did our strategy to surface value of McEwen Copper and a very large copper project, Los Azules, delivered large gains, but also our gold and silver mines increased production and met guidance and reduce their production cost per ounce closer to industry averages |
| In addition, our exploration efforts delivered solid gains in -- at Los Azules and that's our properties in Timmins |
| And then you look at the gold and silver assets where we're doing exploration I'm quite pleased with what we're getting there |
| I'm delighted to say we had a great year |
| This is -- we're looking at a 27-year life and I think there's still quite a bit of room in improving the value of that asset and that improving the value of McEwen Mining |
| We're clearly outperforming |
| I think that our future is looking much brighter than it looked several years ago |
| So I think we're looking at improving the production at all three operations or the two operations that are running today as well as at as well as in Mexico |
| We have some wonderful renderings, very comfortable, safe, attractive accommodations for the workforce, but also looking at how do we treat the world |
| So it's producing, say, 25% or 30% better tonnage going into 2025 |
| McEwen Mining is up 107%, the NASDAQ is up 37%, Silver 27%, the Dow 23%, Gold 20%, GDX 14%, GDXJ up 13% and Copper up 12% |
| At Los Azules, in McEwen Copper, we delivered a very robust preliminary economic assessment in June |
| In terms of -- Mike has assembled a team, a very confident team of nationals that have a lot of experience building in San Juan province where Los Azules is located |
| And so that's one of the strategies for this year is to increase the ore production at Gold Bar get it onto the pad, and that will result in an increase in total ounces produced at Gold Bar |
| That was good |
| So I think there's a lot of room on the upside |
| And as a result of that, our ownership dropped below 50% to 48% and that led to us no longer consolidating the financials of McEwen Copper, and it generated a significant gain, which is reflected in our financials, which was the strategy from the very beginning to surface value for McEwen Mining |
| And three, the rock is softer, which means we should be able to process a higher volume of material through the mill and in theory, produce more gold as a result of that and bring down our costs |
| Our press release outlines pretty well |
| And we think that will attract a premium in the marketplace as well |
| So what we have to do in 2024 and then going forward is we have to produce more ounces in order to drive some of those monthly operating costs down in such a way that we can improve the overall operating cost and also improve, of course, the margin |
| That sounds good |
| And so that will allow us to move up the production from the present 50,000 ounces a year up to 60 |
| So that will allow us to increase the number of tonnes per day going through the plant |
| John Tumazos Good morning |
| Thank you all |
| Hold on, we’re going higher |
| John Tumazos Thank you |
| Thank you |
| Statement |
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| I feel it's very damaging to the environment, and it's not important to life |
| I think we have to complete -- well, we have to complete the engineering, but the driver is probably the permitting phase where we hope to have permits sometime middle of this year, but permitting is always a challenge in every part of the world today |
| But politics is a little difficult to predict, Joe |
| But I can assure you, if all the mines stopped tomorrow, modern civilization would grind to an abrupt halt |
| And that was down |
| Mining generally is held in poor opinion by most of the world |
| Sorry, I was on mute |
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