Actionable news
0
All posts from Actionable news
Actionable news in CDE: COEUR MINING Inc,

Coeur d’Alene Mines: Coeur Reports First Quarter 2016 Production Results Chicago, Illinois

The following excerpt is from the company's SEC filing.

- April 7, 2016 - Coeur Mining, Inc. (the "Company" or "Coeur") (NYSE:CDE) today announced first quarter production of 3.4 million ounces of silver and 78,072 ounces of gold, or 8.1 million silver equivalent

ounces.

Quarterly Production Results

First Quarter 2016 Operational Results

First quarter operational highlights for each of Coeur's operations are provided below.

Palmarejo, Mexico

1Q 2016

4Q 2015

3Q 2015

2Q 2015

1Q 2015

Underground Operations:

Tons mined

215,642

189,383

190,399

172,730

1 49,150

Average silver grade (oz/t)

Average gold grade (oz/t)

Surface Operations:

35,211

102,018

247,071

257,862

281,481

Processing:

Total tons milled

246,533

301,274

427,635

435,841

451,918

Average recovery rate – Ag

Average recovery rate – Au

Silver production ounces (000's)

Gold production ounces

14,668

14,326

22,974

18,127

15,495

Silver-equivalent

1. Silver and gold equivalence calculated using a 60:1 silver to gold ratio.

Production in-line with expectations as transition to lower-tonnage, higher-grade, higher-margin underground operations from two ore sources - Guadalupe and Independencia - remains on-track

Averaged mining rate at Guadalupe of over 1,850 tons per day in the first quarter

Achieved initial production from Independencia ore body in early January

Higher recovery rates continue as a result of several process enhancements implemented in 2015 and as a larger proportion of ore is coming from underground operations

Mining of the open-pit and old underground continues at lower rates and is expected to cease by mid-2016

Maintaining full-year 2016 production guidance of 3.8 - 4.3 million silver ounces and 67,000 - 72,000 gold ounces

Rochester, Nevada

Tons placed

4,374,459

4,411,590

4,128,868

3,859,965

4,013,879

10,460

11,564

10,892

16,411

13,721

Silver equivalent

production ounces (000's)

Lower silver equivalent production due to poor weather conditions and timing of recoveries from the Stage III leach pad

Production levels increased in March and are expected to continue to climb throughout the year

Maintaining full-year 2016 production guidance of 4.7 - 5.2 million silver ounce and 48,000 - 55,000 gold ounces

Kensington, Alaska

Tons milled

159,360

159,666

165,198

170,649

164,951

31,974

33,713

28,799

29,845

33,909

Consistent production levels achieved during first quarter

Development of the decline into the high-grade Jualin deposit is progressing and is over one-third complete

Maintaining full-year 2016 production guidance of 115,000 - 125,000 gold ounces

Wharf, South Dakota

974,663

1,147,130

1,149,744

887,409

415,996

Average plant recovery rate - Au

20,970

31,947

23,104

16,472

Gold equivalent

21,186

32,231

23,427

16,794

Lower production compared to prior quarter as expected due to timing of recovery from the current leach pad. Higher production expected during remainder of 2016

Maintaining full-year 2016 production guidance of 90,000 - 95,000 gold ounces, which is expected to be approximately 20% higher than 2015 production

San Bartolomé, Bolivia

407,806

475,695

373,201

457,232

406,951

Production was lower compared to the fourth quarter due to mill maintenance early in the first quarter

Approximately one-third of production was derived from higher-grade third-party ore purchases

Recently installed an oxygen injection system in the agitation leach circuit to improve recovery rates

Maintaining full-year 2016 production guidance of...


More