RE:McEwen Mining Guides To Up To 172,000 Gold Equivalent Ounces So in that article you have the obvious reason as to why MUX stock price isn't moving too quickly in the right direction even though the price of gold has gone up. Here is an excerpt:
"The first quarter is expected to be the highest cost quarter, with all in sustaining costs per gold ounce estimated to be between $2,340 and $2,560 per ounce – a loss at current commodity prices. Costs are expected to fall dramatically throughout the year, to $1,170 to $1,260 per ounce by the fourth quarter."
With an AISC of up to $2560, this puppy isn't making any money. The gamble here is to hope that the price of gold stays close to or above $2k so that we have some excellent financial results for the end of next fiscal year.
But then again,
Inohnuttin