Canadian gold miner McEwen Mining has taken an impairment charge of $83.8-million for the Gold Bar mine, in the, US, citing a change in the geological interpretation that resulted in a substantial reduction in expected gold output over its life of mine.
The impairment charge resulted in McEwen reporting a first-quarter loss of $99.2-million, or $0.25 a share. Before the impairment adjustment, the net loss is $15.4-million.