Coeur d'Alene Mines Corporation
(NYSE:CDE)(TSX:CDM)(ASX:CXC) announced today that its Cerro Bayo Mine in southern Chile has resumed operations after a temporary suspension to upgrade the mine's electrical infrastructure.
The Company had announced on April 8th that the mine would cease operations for six weeks. The mine was able to re-commence operations sooner than planned due to rapid mobilization of contractors, expedited procurement of materials, and participation of the mine's own workforce to assist with the work.
These electrical upgrades were part of Cerro Bayo's ongoing recovery plan which has improved operations and lowered costs. Key components of this plan include increased underground mine development for improved operational flexibility, reduced manpower, improved workforce training and supervision, and more efficient mining.
About Coeur
Coeur d'Alene Mines Corporation is one of the world's leading silver companies and also a significant gold producer, with anticipated 2008 production of approximately 16 million ounces of silver, a 40% increase over 2007 levels. Coeur, which has no silver or gold production hedged, is now set to begin producing silver at the world's largest pure silver mine - San Bartolom? in Bolivia ? and is currently constructing another world-leading silver mine ? Palmarejo in Mexico.
The Company also operates two underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia.
The Company also owns a major gold project in Alaska and conducts exploration activities in Argentina, Bolivia, Chile, Mexico and Tanzania. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.
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 press release 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 SEC, 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 news release. 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 on this press release, such as "measured,""indicated," and "inferred""resources," which the
SEC guidelines strictly 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.
Coeur d'Alene Mines CorporationKarli Anderson, 208-665-0345
(Investor Contact)Director of Investor RelationsTony Ebersole, 208-665-0777
(Media Inquiries)Director of Corporate Communications
KEYWORD:
Australia United States North America South America Canada Australia/Oceania Chile Idaho
INDUSTRY KEYWORD: Natural Resources Mining/Minerals
CATEGORY KEYWORD: Source: Coeur d'Alene Mines Corporation
Copyright Business Wire 200
(NYSE:CDE)(TSX:CDM)(ASX:CXC) announced today that its Cerro Bayo Mine in southern Chile has resumed operations after a temporary suspension to upgrade the mine's electrical infrastructure.
The Company had announced on April 8th that the mine would cease operations for six weeks. The mine was able to re-commence operations sooner than planned due to rapid mobilization of contractors, expedited procurement of materials, and participation of the mine's own workforce to assist with the work.
These electrical upgrades were part of Cerro Bayo's ongoing recovery plan which has improved operations and lowered costs. Key components of this plan include increased underground mine development for improved operational flexibility, reduced manpower, improved workforce training and supervision, and more efficient mining.
About Coeur
Coeur d'Alene Mines Corporation is one of the world's leading silver companies and also a significant gold producer, with anticipated 2008 production of approximately 16 million ounces of silver, a 40% increase over 2007 levels. Coeur, which has no silver or gold production hedged, is now set to begin producing silver at the world's largest pure silver mine - San Bartolom? in Bolivia ? and is currently constructing another world-leading silver mine ? Palmarejo in Mexico.
The Company also operates two underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia.
The Company also owns a major gold project in Alaska and conducts exploration activities in Argentina, Bolivia, Chile, Mexico and Tanzania. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.
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 press release 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 SEC, 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 news release. 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 on this press release, such as "measured,""indicated," and "inferred""resources," which the
SEC guidelines strictly 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.
Coeur d'Alene Mines CorporationKarli Anderson, 208-665-0345
(Investor Contact)Director of Investor RelationsTony Ebersole, 208-665-0777
(Media Inquiries)Director of Corporate Communications
KEYWORD:
Australia United States North America South America Canada Australia/Oceania Chile Idaho
INDUSTRY KEYWORD: Natural Resources Mining/Minerals
CATEGORY KEYWORD: Source: Coeur d'Alene Mines Corporation
Copyright Business Wire 200
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