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.