McEwen Mining Inc. (NYSE, TSX: MUX) has received reimbursement for approximately 80% of the fair value of a loss due to an armed robbery that occurred on April 7 at the El Gallo Mine in Mexico, the company reports. Consequently, the financial impact of the robbery has been reduced to approximately $1.6 million, and McEwen Mining says it now has cash and precious metals totaling $33 million. The robbery resulted in the theft of approximately 7,000 ounces of gold. "Our relentless focus is on financial performance, improving the sustainability of our operations, achieving exploration success, and technological innovation at our existing and future mines," comments Rob McEwen, chief owner. "The robbery is behind us, and we have invested in additional security measures to protect our employees and products." Earlier this week,McEwen Mining reported quarterly production that set a record at its El Gallo Mine in Mexico, also raising its company-wide output guidance for the year.
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