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Unflappably unfazed, Rob McEwen discusses the 7,000-ounce gold heist

by Greg Klein | April 10, 2015

If you like your mining CEOs calm, confident, soft-spoken and even smiling in the face of calamity, Rob McEwen’s your man. Speaking with BNN’s Andrew Bell on April 9, the McEwen Mining TSX:MUX boss presented a model of poise, at times smiling broadly as he discussed the 7,000-ounce gold robbery two days earlier at his El Gallo 1 refinery in Sinaloa, Mexico. McEwen owns a 25% stake in the company, and therefore any loss.

Unflappably unfazed, Rob McEwen discusses the 7,000-ounce gold heist

McEwen: “Um, it’s not funny to laugh at.”

Bell told him, “Some people might say, ‘How could this happen?’ I mean, it’s $8 million worth of gold.”

McEwen laughed as he replied, “Yeah, I was saying that too.” Quickly regaining composure, he conceded, “Um, it’s not funny to laugh at.”

His demeanour might have sometimes suggested otherwise but McEwen’s statements did express concern. He assured Bell that no serious injuries were suffered, although security staff might have been emotionally scarred. McEwen also expressed confidence in state government and local police. Nor has he written off the loot. Insurance would cover some of it but, he said, “We hope we’re not going to lose anything because we hope to recover the gold.”

As for the facility’s future security arrangements, he said, “It’ll look like Fort Knox.”

Despite the robbery, the company has said El Gallo will maintain 2015 guidance of 50,000 ounces gold and 20,000 ounces silver.


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