Air Canada allegedly failed to mark the shipment of nearly 900 pounds of gold as “valuable cargo” and provide adequate security, according to Bloomberg.
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McEwen Mining has released its year-end results for 2020, and although it bluntly admits it was a “brutal” year financially, the company is due for a rebound in 2021.
They report a consolidated net loss of $152.3 million in 2020, or $0.38 a share.
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Rob McEwen, chair and chief owner, said, “2020 was a brutal year but we more than survived and have come out stronger from it. The ‘Going Concern Note’ has been removed from our financial statements.”
The Toronto-based mining company currently has seven operations on the go. Two in Argentina, two in Mexico, one in Nevada, and two in the Timmins area: The Lexam Property, and the Fox Complex, located 11 kilometres east of Matheson.
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McEwen Mining says it has ambitious plans for the Fox Complex which could potentially see an additional decade of production at the site.
Located 36 kilometres east of Timmins, and 11 kilometres east of Matheson, the Black Fox Mine began production in 2011. McEwen Mining purchased the project from Primero Mining Corp in October of 2017. The complex has a combined resource base of approximately 3 million ounces (oz) of gold.
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In their latest progress report, McEwen is reporting “encouraging high grade intercepts” from a recent delineation drilling program that illustrate the mine’s potential.