McEwen narrows loss, drops certain Nevada exploration properties

Copper and gold producer McEwen Mining this week reported a net loss of $14.1-million, or $0.05 a share, for the second quarter ended June, compared with a net loss of $104-million, or $0.35 a share, for the comparable period a year earlier. The net loss was attributable to an impairment of $28.5-million on certain mineral properties in Nevada, which it decided to drop. After related deferred income-tax recoveries the after-tax impairment was $18.5-million.