Jun. 23, 2014, 4:56 PM
- Coeur Mining (CDE) says it plans to complete development of the Guadalupe underground mine at its Palmarejo operation in Mexico and expects initial production to begin during Q1 of 2015.
- CDE says the new development and production plan supports its strategy to transition the mine to a higher-margin, longer-life, underground-only operation.
- Production at Guadalupe is expected to average 1,300 tons/day in 2015 and 1,500 tons/day in 2016-18.
- CDE also announces entry into a new gold streaming agreement with Franco-Nevada (FNV).
May 28, 2014, 11:28 AM
- Coeur Mining (CDE -3.5%) says it has put its Joaquin silver and gold prospect in Argentina on hold, citing the inability to get an adequate return to compensate for the risks involved in getting capital in and out of the country.
- The project was in an advanced exploration stage, the Argentine government has imposed controls on capital flows; the mining sector also has been hurt by an unstable exchange rate, high inflation and a penchant by provincial governments to arbitrarily increase royalties.
- CDE also expects to release a feasibility study for its $350M La Preciosa precious metals project in Mexico later this year, but mining sector analysts expect that project also will be put on hold.
May 7, 2014, 6:02 PM
May 6, 2014, 5:35 PM
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Apr. 7, 2014, 6:31 PM
- Coeur Mining (CDE) reports Q1 production of 4.1M oz. of silver and ~58.8K oz. of gold, or 7.6M silver equiv. oz. - "a solid start to the year," CEO Mitchell Krebs says.
- CDE says it expects higher silver and gold production at the Rochester mine during each successive quarter during the remainder of 2014; daily silver production rates have exceeded 13K oz. in early April.
- Maintains FY 2014 production guidance of 17M-18.2M silver oz. and 220K-238K gold oz. (30.2M-32.4M silver equiv. oz.).
Mar. 25, 2014, 11:39 AM
- Silver prices below $20/oz. should worry some investors, as several miners may need to adjust their plans if spot prices weaken further, Dundee's Chris Lichtenheldt says as he breaks down how specific companies will be impacted.
- The analyst says Coeur Mining (CDE) is an ideal sell or short candidate, Endeavour Silver (EXK) is essentially breakeven at $19 silver, and Silver Standard (SSRI) has been a top performer YTD but is a high-cost operator.
- As for Dundee's potential winners: Tahoe Resources (TAHO) is a low-cost operator with a best-in-class asset, Silver Wheaton's (SLW) balance sheet is solid above $15 silver, and Pan American Silver's (PAAS) strong balance sheet should provide a cushion as higher-cost operations have improved.
- ETFs: SIL, SLVP, SILJ
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Feb. 18, 2014, 2:59 PM
- Coeur d'Alene Mines (CDE +7%) reports a significant increase in mineral reserves and resources totaling ~255.4M silver oz. and 2.2M gold oz., representing respective Y/Y increases of 15.9% and 12.3%.
- The gains are net of the 17M oz. of silver and 262,217 oz. of gold produced during 2013.
- In addition to these reserves, CDE announces measured and indicated mineral resources totaling 386.3M silver oz. and 2.5M gold ounces, up 26.6% and 1.4% respectively, vs. year-end 2012.
Jan. 16, 2014, 5:21 PM
- Coeur Mining (CDE) announces Q4 production of 4.3M oz. of silver and 80,780 oz. of gold, Q/Q increases of 3% and 27% respectively; for FY 2013, CDE produced 17M oz. of silver and a record high 262,217 oz. of gold, a 6% decrease and an 18% increase of 16% Y/Y.
- Full-year silver production was 5% below the low end of company guidance, mostly due to slower than expected leach recoveries at the Rochester mine in Nevada; gold output exceeded guidance due to a strong Q4 at the Kensington mine in Alaska and represented nearly half of CDE's estimated 2013 metal sales.
Jan. 10, 2014, 3:49 PM
- Gold futures settle at a four-week high, rising 1.4% to $1,246.90, as the surprisingly weak jobs report reopens debate over the pace of bond buying at the Fed; precious metals miners are far outpacing the broader market, with the top gold miner ETF (GDX) surging 3%.
- Among the top miners: ABX +2.3%, GG +3.3%, NEM +2.4%, AU +3.8%, KGC +1.3%, GFI +4.3%, AUY +2.8%, RGLD +5.3%, AGI +2%, AEM +4.5%, SLW +4.4%, IAG +1.9%, FNV +1.5%, CDE +2.3%, EGO +3.8%, NGD +2.9%, NG +6.9%, HMY +2.7%.
- ETFs: GDXJ, NUGT, DUST, SIL, GLDX, SLVP, RING, GGGG, SILJ, JNUG, PSAU, JDST.
Dec. 19, 2013, 9:58 AM
- Precious metals stocks are slammed at the open from weakening prices for underlying metals, and the Market Vectors Gold Miner ETF (GDX -2.1%) opens at a new 52-week low.
- GFI -2.8%, AUY -2.4%, AU -3.8%, RGLD -2.7%, NEM -3.1%, ABX -2.1%, GG -2.4%, AGI -3.2%, AEM -2.3%, SLW -2.6%, KGC -1.9%, FNV -1.6%, CDE -1.5%, EGO -1.5%, NGD -1.2%, HMY -1.2%.
- ETFs: GDXJ, NUGT, DUST, SIL, GLDX, SLVP, GGGG, RING, SILJ, PSAU, JNUG, JDST.
Nov. 7, 2013, 8:12 AM
- Coeur d'Alene Mines (CDE): Q3 EPS of -$0.23 misses by $0.03.
- Net metal sales of $200.8M (-2% Y/Y), mostly due to respective 8% and 6% declines in realized silver and gold prices.
- Reaffirms FY 2013 production guidance of 18M-19.1M oz. of silver and 250K-258K oz. of gold; expects significantly higher production levels in Q4, particularly from the Rochester silver and gold mine in Nevada.
- Shares -2.9% premarket. (PR)
Nov. 1, 2013, 12:57 PM
- Barrick Gold's (ABX -6.2%) planned $3B capital raise may be "prudent and necessary" for the company, but it stinks for shareholders, and shares of other big precious metals miners are tumbling too.
- ABX's move may be sparking fears from shareholders in other miners that they could be next, and that stock offerings of this size could make it hard to raise dividends in the future; "cram-down financing like this is something that companies should consider [only] after their stocks have rallied significantly," Jon Ogg writes.
- NEM -4.7%, GG -3.8%, KGC -3.9%, SLW -3.2%, GFI -1.3%, NGD -2.2%, AUY -3.3%, CDE -3.3%, TAHO -4.9%.
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, GGGG, RING, PSAU, JNUG.
Oct. 14, 2013, 8:10 AM
- Coeur Mining (CDE) +2.8% premarket after a weekend Barron's article speculates shares could jump 50% after falling ~60% over the past year, as the silver miner restructures its operations and sentiment improves on the sector.
- CDE is posting losses but is profitable on an operating cash flow basis, it has a solid balance sheet with little net debt, and the stock is cheap at around half of book value.
- Efforts to improve efficiencies at its mines appear to be working; in the June quarter, production at the Palmarejo mine, the biggest contributor to CDE's cash flow, rebounded Q/Q with silver production up 24% and gold up 23%.
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