BUZZ-McEwen Mining Inc: Robbers loot gold worth $8.5 mln

Wed Apr 8, 2015 8:58am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canada-based miner's U.S.-listed shares down 4.7 pct at $1.01 premarket

** Company says armed robbers stole about 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from its El Gallo 1 mine in Mexico

** At current gold price stolen gold would be worth nearly $8.5 mln

** Company says insurance policy not sufficient to cover entire amount of expected loss

** Up to Tuesday's close, stock had fallen about 57 pct in 12 months