Coeur Mining (CDE) reports preliminary Q2 production of 4.5M oz. of silver and ~61K oz. of gold, or 8.1M silver equiv. oz., a 7% Q/Q increase.
At CDE's Rochester mine in Nevada, silver production rose 48% and gold production gained 13% Q/Q, resulting in its highest quarterly silver equiv. production since Q3 2007; expects further growth in H2 2014 due to the continued ramp-up of production from the Stage III leach pad.
At Palmarejo in Mexico, CDE says lower processing rates, higher recoveries and higher grades were consistent with its strategy of transitioning the mine to a higher-margin, underground operation; expects further increases in recovery rates in H2 due to improved management of the sources of ore.