Precious metals producer McEwen Mining has reported a first-quarter loss of $3-million, or $0.01 a share, compared with net income of $13-million in same period of 2016.
The net loss was mainly the result of a $6.4-million increase in gold and silver sales from the El Gallo mine, in Mexico, and a $6.7-million increase in exploration costs relating to a drilling campaign at Los Azules, in Argentina, the Colorado-incorporated miner reported on Thursday.
