Momentum Builds as Coeur Completes First Full Quarter with All Three New Gold and Silver Mines in Production

Coeur d′Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) today
announced strong third quarter financial and operational results driven
by its three new long-life gold and silver mines, along with record
precious metals prices. This marked the first full quarter with all
three new mines in production, leading to accelerating metal sales and
cash flow while operating costs per ounce and capital expenditures
continue declining.

Third Quarter Highlights:

• 
  Gold production doubled from prior quarter; silver production
  increased 4%
  
• 
  Cash operating costs¹ declined 40% to $4.87 per silver ounce
  
• 
  Record metal sales of $118.6 million, up 17% from previous quarter and
  nearly $30 million over last year′s third quarter
  
• 
  58% increase in operating cash flow² to $34.7 million
  compared to last quarter
  
• 
  Capital expenditures declined to its lowest level in over four years
  
• 
  Operating income jumped to $10.5 million, up from $1.9 million last
  quarter
  
• Palmarejo silver production increased 41% to 1.5 million
  ounces; gold production increased 49% to 29,823 ounces versus the
  second quarter
  
  
  • 
    Higher silver and gold grades and larger gold by-product credit
    led to reduced cash operating costs of $0.15 per silver ounce
    versus $10.78 during the prior quarter
    
• San Bartolom?b> silver production of 1.8 million silver
  ounces consistent with prior quarter; cash operating costs dropped 9%
  to $7.05 per silver ounce
  
• Kensington produced 15,155 gold ounces in its initial
  quarter
  
• 
  Expecting full-year silver production of over 17 million ounces; cash
  operating costs of $5.50 per silver ounce; 135% increase in gold
  production to approximately 170,000 ounces
  

'Over the past three years, Coeur has been executing its strategic plan
to transition the Company to three new long-life silver and gold mines.
Along with exceptionally strong metals prices, the results from the
third quarter demonstrate the momentum being created by these new
operations,? said Dennis E. Wheeler, Chairman, President and Chief
Executive Officer. 'As metal sales and cash flow increase, the Company′s
cash operating costs and capital expenditures continue to decline.?

Mr. Wheeler continued, 'The third quarter also marked a major milestone
for the Company′s Kensington gold mine, as it logged its first full
quarter of operations. With a substantial reserve base, exciting
exploration potential and record gold prices, Kensington has a very
bright future.?

'Finally, our Rochester silver and gold mine in Nevada is experiencing a
rebirth as it moves ahead with a planned expansion of mining operations.
Just last week, this expansion plan received a boost with the issuance
of a positive Decision Record by the Nevada Bureau of Land Management
(BLM). This expansion will begin adding to production levels in the
fourth quarter of 2011 and will increase total average annual silver and
gold production to over 2.4 million ounces and 35,000 ounces,
respectively. Rochester will soon become a fourth major contributor
along with the Company′s three new mines. Rochester contains a large
mineral resource base, which provides for additional opportunities to
further expand operations beyond this initial expansion. Since
commencing production in 1986, Rochester has produced over 127 million
ounces of silver and 1.5 million ounces of gold, making it one of the
world′s most prolific silver and gold mines. The Company extends its
appreciation to the BLM, the State of Nevada and the Nevada
Congressional Delegation for its support and assistance, which will help
lead to the creation of 200 new jobs at Rochester,? Mr. Wheeler added.

Third quarter metal sales jumped nearly $30 million to a record $118.6
million, up 31% compared to last year′s third quarter and up 17% over
the prior quarter, primarily due to the significant rise in gold
production from the Palmarejo mine and from substantially higher average
realized silver and gold prices. Sales of silver contributed 62% of the
Company′s total metal sales compared to 75% during last year′s third
quarter. Production costs remained nearly flat compared to last year′s
third quarter and this year′s second quarter, leading to significant
increases in gross mine profit, operating income and operating cash flow.

Quarterly operating cash flow increased to $34.7 million compared to
$(1.0) million last year while capital expenditures declined 32% to
$36.8 million. This represents the lowest quarterly capital expenditures
since the second quarter of 2006. Compared to the most recent quarter,
operating cash flow increased 58% while capital expenditures dropped 19%.

Quarterly operating income⁶ increased to $10.5 million versus
a $4.1 million operating loss during last year′s third quarter and $1.9
million during the second quarter.

The Company′s average realized silver and gold prices during the third
quarter were $18.87 and $1,229 per ounce, respectively, representing
increases of 30% and 29% over the prior year.

At September 30^th, cash, equivalents and short-term
investments totaled $32.8 million. Total shares outstanding remain at
89.3 million, consistent with the Company′s stated objective of not
issuing additional shares. Total debt declined 14% compared to last
year′s third quarter. The current debt-to-equity ratio is 9%.

The Company produced 4.3 million ounces of silver and 47,514 ounces of
gold during the third quarter versus 4.2 million ounces and 23,124
ounces, respectively, in the second quarter. The 105% increase in gold
production was primarily a result of the production of 15,155 gold
ounces at the Kensington mine during its initial quarter of operations
and a 49% increase in gold production at Palmarejo to 29,823 ounces.

Cash operating costs declined 40% to $4.87 per silver ounce compared to
the prior quarter mostly due to Palmarejo′s cash operating costs of
$0.15 per silver ounce compared to $10.78 per silver ounce last quarter.

The Company′s silver production base is underpinned by proven and
probable reserves of 269.2 million, measured and indicated resources of
180.6 million, and inferred resources of 66.6 million ounces. In
addition, Coeur′s gold production is backed by a large and growing
reserve base of 2.9 million ounces of proven and probable reserves, 1.2
million ounces of measured and indicated resources, and 1.2 million
ounces of inferred resources.⁷

Palmarejo (Mexico) ? Corner Turned During Third
Quarter

• 
  Open pit silver and gold grades up 156% and 133%, respectively
  
• 
  Underground silver and gold grades up 10% and 11%, respectively
  
• 
  Highest production levels for both silver and gold since April 2009
  startup
  
• 
  Underground operations continue to contribute approximately one-third
  of total tons mined
  
• 
  Higher grades and increased gold by-product credit led to sharp
  decline in cash operating costs to $0.15 per silver ounce in the third
  quarter compared to $10.78 per silver ounce in the second quarter and
  $8.76 per silver ounce during last year′s third quarter
  
• 
  Received and monetized $10 million of Franco-Nevada Corporation common
  shares in connection with operational completion test tied to the
  January 2009 gold royalty financing
  
• 
  Processing plant achieved stability during quarter with gold
  recoveries averaging 94% and silver recoveries remaining at 70%.
  Implementation of a series of enhancements in the third quarter
  including installation of new pumping capacity, enhanced focus on
  grind size, optimization of chemical levels and improved blending of
  ore types are now beginning to make an impact. Several other
  improvements such as installation of an additional oxygen plant and
  changes focused on enhancing carbon stripping and regeneration are
  underway and expected to lead to further gains.
  
• 
  Expected to produce approximately 6.1 million ounces of silver and
  109,000 ounces of gold this year at an average cash operating cost of
  approximately $2.50 per silver ounce
  
• 
  For additional operating statistics, please refer to the table at the
  end of this release
  

San Bartolom?Bolivia) ? Consistent Production
Levels at Reduced Costs

• 
  Third quarter silver production consistent with prior quarter
  
• 
  14% increase in grade and 5% increase in recoveries offset a 19%
  decline in tons milled
  
• 
  Cash operating costs dropped 9% to $7.05 per ounce
  
• 
  Full-year 2010 silver production is expected to exceed 6.5 million
  ounces at average cash operating costs of approximately $8.00 per ounce
  
• 
  For additional operating statistics, please refer to the table at the
  end of this release
  

Kensington (Alaska) ? Initial Quarter of
Operations According to Plan

• 
  Commenced commercial production on July 3, 2010
  
• 
  15,155 gold ounces produced and 7,391 gold ounces sold during the
  third quarter
  
• 
  Cash operating costs during the mine′s initial quarter averaged $1,199
  per ounce of gold and are expected to average approximately $490 per
  ounce over the life of the mine
  
• 
  Projected gold production expected to exceed 125,000 ounces in 2011,
  representing the mine′s first full year of operation
  
• 
  For additional operating statistics, please refer to the table at the
  end of this release
  

Rochester (Nevada) ? Positive Decision from BLM
to Expand Operations for Several Years

• 
  Expansion will begin adding to production levels in the fourth quarter
  of 2011 and will increase total average annual production to more than
  2.4 million silver ounces and 35,000 gold ounces from current expected
  production levels generated from residual leaching of 700,000 silver
  ounces and 5,000 gold ounces
  
• 
  Updated feasibility study completed defining 27.6 million contained
  ounces of silver and 247,000 contained ounces of gold in proven and
  probable mineral reserves. Mine contains an additional 54.8 million
  silver ounces and 409,000 gold ounces of measured and indicated
  resources. Efforts to expand mineral reserves and resources and
  further increase production are ongoing.
  
• 
  Expected to produce 2.0 million ounces of silver and 10,000 ounces of
  gold in 2010 at an average cash operating cost of $3.00 per ounce
  
• 
  In its 25 years of operation, the mine has produced 127 million ounces
  of silver and 1.5 million ounces of gold
  
• 
  For additional operating statistics, please refer to the table at the
  end of this release
  

Martha (Argentina) ? Newly Discovered
High-Grade Mineralization Expected to Extend Operations Through 2011

• 
  Began 2010 with 1.2 million ounces of proven and probable reserves and
  1.8 million ounces of measured and indicated resources
  
• 
  Produced 1.4 million silver ounces through the first nine months of
  2010
  
• 
  Expect to produce 1.7 million silver ounces during full-year 2010
  
• 
  For additional operating statistics, please refer to the table at the
  end of this release
  

Exploration Highlights

Exploration activities across all of Coeur′s properties proceeded at a
brisk pace during the third quarter. Over 30,500 meters were drilled on
six different properties with exploration expenditures totaling $3.8
million during the quarter.

Palmarejo ? Favorable drill results continue to expand size and
continuity of Guadalupe

The majority of the drilling during the quarter was focused at the
Palmarejo mine and at the nearby Guadalupe deposit. At Palmarejo,
drilling continues to intersect strong gold and silver mineralization
from several zones, notably 108, 76, Tucson-Chapotillo, and at
Guadalupe, which now totals over 2.4 kilometers of strike length. At the
mine, drilling was conducted from both surface and underground on all
five ore zones, all of which remain open for expansion on strike and at
depth. Drilling during 2010 is expected to increase mineral resources
and reserves when the Company announces year-end reserves and resources
in early 2011.

Argentina ? Definition drilling commenced and new high grades
intersected at Joaquin

In the Santa Cruz province of Argentina, the Company commenced a
definition drilling program at the Joaquin property, which is located
approximately 70 kilometers to the north of the Martha Mine, to define
the main part of the La Negra zone. Drilling at La Morocha, situated
less than one kilometer west of La Negra, intersected over 30 meters of
+400 g/t silver at about 125 meters below surface, which represents the
deepest mineralized intercept thus far on this zone and remains open at
depth.

The Company also commenced drilling on new targets at Martha.

Kensington ? Phase one drilling completed with very high grades from
several drill holes

The first phase of drilling on the large, gold-bearing Horrible vein
zone was completed during the third quarter. This is the first drilling
on Horrible by Coeur and the system extends over 600 meters vertically
and over 100 meters horizontally with multiple gold-bearing quartz
veins. More drilling is planned for the next quarter and 2011 to further
define and expand the zone which is expected to lead to new mineral
resources and reserves.

Rochester ? Encouraging results from new drilling

The first phase of a drilling program focused on new targets located on
a major structural corridor between the Company′s Rochester and Nevada
Packard mines was completed during the quarter. This represents the
first drilling in this area in over a decade. Several holes returned
ore-grade silver and gold mineralization. Further drilling is planned in
2011 to test this same area again as well as other untested zones on the
large Rochester property. The Company expects this work to lead to
further increases in mineral resources and reserves.

Conference Call Information

Coeur will hold a conference call to discuss the Company's third quarter
2010 results at 1:00 p.m. Eastern time on November 4, 2010. To listen
live via telephone, call 877-464-2820 (US and Canada) or 660-422-4718
(International). The conference ID number is 18309250. The conference
call and presentation will also be webcast on the Company's web site at www.coeur.com.
A replay of the call will be available through November 11, 2010. The
replay dial-in numbers are 800-642-1687 (US and Canada) and 706-645-9291
(International) and the access code is 18309250. In addition, the call
will be archived for a limited time on the Company′s web site.

¹  Cash operating costs is a non-U.S. GAAP measure. A
reconciliation of this measure to production costs is provided at the
end of this release. Excludes cash operating costs at Kensington, which
are presented on a gold basis.

²  Represents operating cash flow prior to changes in
operating assets and liabilities. A reconciliation between U.S. GAAP and
non-U.S. GAAP operating cash flow is provided at the end of this release.

³ Represents sales of metal less production costs. Excludes
depreciation, depletion, and amortization expense.

⁴ EBITDA is a non-U.S. GAAP measure and defined as earnings
before interest, taxes, depreciation and amortization. A reconciliation
of this measure to U.S. GAAP is provided at the end of this release.

⁵ Includes short-term and long-term indebtedness; excludes
capital lease obligations and Mitsubishi gold lease facility.

⁶ Reflects income/(loss) before other income and expenses. On
a net income/(loss) basis, the Company recorded a net loss from
continuing operations of $23.3 million, or ($0.26) per share for the
quarter, which included $19.1 million of negative non-cash fair value
adjustments. During last year′s third quarter, the Company reported a
net loss from continuing operations of $36.7 million, or ($0.48) per
share, which included $35.7 million of negative non-cash fair value
adjustments.

⁷ As of December 31, 2009.

Cautionary Statement

This press release contains forward-looking statements within the
meaning of securities legislation in the United States, Canada, and
Australia, including statements regarding anticipated operating results.
Such statements are subject to numerous assumptions and uncertainties,
many of which are outside the control of Coeur. Operating, exploration
and financial data, and other statements in this presentation are based
on information that Coeur believes is reasonable, but involve
significant uncertainties affecting the business of Coeur, including,
but not limited to, future gold and silver prices, costs, ore grades,
estimation of gold and silver reserves, mining and processing
conditions, construction schedules, currency exchange rates, and the
completion and/or updating of mining feasibility studies, changes that
could result from future acquisitions of new mining properties or
businesses, the risks and hazards inherent in the mining business
(including environmental hazards, industrial accidents, weather or
geologically related conditions), regulatory and permitting matters,
risks inherent in the ownership and operation of, or investment in,
mining properties or businesses in foreign countries, as well as other
uncertainties and risk factors set out in filings made from time to time
with the United States Securities and Exchange Commission, the Canadian
securities regulators, and the Australian Securities Exchange,
including, without limitation, Coeur′s reports on Form 10-K and Form
10-Q. Actual results, developments and timetables could vary
significantly from the estimates presented. Readers are cautioned not to
put undue reliance on forward-looking statements. Coeur disclaims any
intent or obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Coeur undertakes no obligation to comment on analyses,
expectations or statements made by third parties in respect of Coeur,
its financial or operating results or its securities.

Donald J. Birak, Coeur's Senior Vice President of Exploration, is the
qualified person responsible for the preparation of the scientific and
technical information concerning Coeur's mineral projects in this
presentation. For a description of the key assumptions, parameters and
methods used to estimate mineral reserves and resources, as well as a
general discussion of the extent to which the estimates may be affected
by any known environmental, permitting, legal, title, taxation,
socio-political, marketing or other relevant factors, please see the
Technical Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.

Cautionary Note to U.S. Investors ? The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings with
the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms in
this presentation, such as 'measured,? 'indicated,? and 'inferred
resources,? that are recognized by Canadian and Australian regulations,
but that SEC guidelines generally prohibit U.S. registered companies
from including in their filings with the SEC. U.S. investors are urged
to consider closely the disclosure in our Form 10-K which may be secured
from us, or from the SEC′s website at http://www.sec.gov/edgar.shtml.

Non-U.S. GAAP Measures

We supplement the reporting of our financial information determined
under United States generally accepted accounting principles (U.S. GAAP)
with certain non-U.S. GAAP financial measures, including cash operating
costs, operating cash flow and EBITDA. We believe that these adjusted
measures provide meaningful information to assist management, investors
and analysts in understanding our financial results and assessing our
prospects for future performance. We believe these adjusted financial
measures are important indicators of our recurring operations because
they exclude items that may not be indicative of, or are unrelated to,
our core operating results, and provide a better baseline for analyzing
trends in our underlying businesses. We provide the amount of our
operating cash flow to supplement our cash flow determined under U.S.
GAAP. We define operating cash flow as net income plus depreciation,
depletion and amortization and plus/minus any other non-cash items. We
believe operating cash flow is an important measure in assessing the
Company's overall financial performance.

About Coeur

Coeur d'Alene Mines Corporation is one of the world's leading silver
companies and is also a growing gold producer. Coeur is also a
recognized leader in environmental stewardship and worker safety, with
13 national and international awards earned over the past year. The
Company′s three new long-life mines include the San Bartolom?ilver
mine in Bolivia, which began operations in 2008, the Palmarejo silver
and gold mine in Mexico, which began operations in 2009, and the
Kensington gold mine in Alaska, which began commercial production in
July of this year. The Company also owns an underground mine in
Argentina and a surface mine in Nevada, and owns a non-operating
interest in a low-cost mine in Australia. The Company conducts
exploration activities in Alaska, Argentina and Mexico. Coeur common
shares are traded on the New York Stock Exchange under the symbol CDE,
and the Toronto Stock Exchange under the symbol CDM, and its CHESS
Depositary Interests are traded on the Australian Securities Exchange
under symbol CXC.

Photos of projects and other information can be accessed through the
Company′s website at www.coeur.com.

Excluding changes in operating assets and liabilities, the Company′s
operating cash flow consisted of the following:

Reconciliation of EBITDA to net income/(loss) is shown below:

					Three Months Ended September 30,								Nine Months Ended September 30,
					2010				2009				2010				2009
					(In thousands, except per share data)
NET INCOME (LOSS)					(22,628	)			(17,283	)			(81,389	)			384
	Gain (loss) on sale of discontinued operations,
	net of income taxes				(882	)			(22,411	)			2,095				(22,411	)
	Loss from discontinued operations, net of income taxes				251				A A A PDF Die mit * gekennzeichneten Felder sind Pflichtfelder. Absender* E-Mail-Adresse Empfänger* Betreff* Nachricht* Hier ist eine interessante Information, die ich auf Minenportal.de gefunden habe: https://www.minenportal.de/artikel/51542--Momentum-Builds-as-Coeur-Completes-First-Full-Quarter-with-All-Three-New-Gold-and-Silver-Mines-in-Production.html Alle hinterlegten Daten der "Nachricht versenden"-Funktion werden ausschlißlich zu Übertragungszwecken verwendet und nicht gespeichert. Zustimmung* Mit Setzen des Häkchens im Kontrollkästchen bestätigen Sie uns, dass Sie unsere Datenschutzerklärung zur Kenntnis genommen haben und dass Sie unseren Allgemeinen Geschäftsbedingungen (AGB) zustimmen. Sie erklären sich damit einverstanden, dass Ihre Daten zur Bearbeitung Ihres Anliegens verwendet werden. Weitere Informationen und Widerrufshinweise finden Sie in der Datenschutzerklärung u. a. im Punkt "Informationsangebote".  Bestätigungscode: Code eingeben:* (Zum neu Laden auf das Bild klicken) Geben Sie die Zeichen aus dem Bild ein.(Es wird nicht zwischen Groß- und Kleinschreibung unterschieden) VersendenHier ist eine interessante Information, die ich auf Minenportal.de gefunden habe: https://www.minenportal.de/artikel/51542--Momentum-Builds-as-Coeur-Completes-First-Full-Quarter-with-All-Three-New-Gold-and-Silver-Mines-in-Production.html Drucken Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer! Mineninfo Coeur Mining Inc. Branche: Bergbau Heimatland: USA WKN: A0RNL2 ISIN: US1921085049 www.coeur.com weitere Infos: Übersicht Kurse & Charts Nachrichten Nachrichten, engl. Copyright © Minenportal.de 2006-2024 | MinenPortal.de ist eine Marke von GoldSeiten.de und Mitglied der GoldSeiten Mediengruppe Alle Angaben ohne Gewähr! Es wird keinerlei Haftung für die Richtigkeit der Angaben und der Kurse übernommen! Informationen zur Zeitverzögerung der Kursdaten und Börsenbedingungen. Kursdaten: Data Supplied by BSB-Software. AGB | Datenschutz | Impressum | Kontakt | RSS-Feed | Sitemap