McEwen Mining suspends distribution
Published by John Williams,
Editorial Assistant
Global Mining Review,
McEwen Mining Inc. has decided to suspend the distribution of half cent per share, which would have been paid on 15 March to shareholders of record on 8 March 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.
McEwen has approximately 345 million shares outstanding. Rob McEwen owns 23% of the shares.
Read the article online at: https://www.globalminingreview.com/finance-business/08032019/mcewen-mining-suspends-distribution/
You might also like
Electrification in Mining virtual conference
Join us on 16 April 2024 for Global Mining Review's first Electrification in Mining event is an interactive virtual conference, focusing on electrification as the future of sustainable mining and exploring the innovative approaches and technologies being developed to facilitate its implementation.
MinRes commences preliminary development works at Mt Marion mine
Mineral Resources has commenced preliminary development works to support underground future mining at the Mt Marion lithium operation in Australia.