Coeur Announces Commencement of Production at Silvertip
March 08 2018 - 4:15PM
Business Wire
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) is
pleased to announce that it has commenced production at its
high-grade Silvertip mine in British Columbia, Canada, following
the successful commissioning of mill operations. Ramp-up of
production is now slightly ahead of schedule with mill throughput
expected to steadily increase throughout the remainder of the year
from an estimated 250 tonnes per day (“tpd”) in April to 750 tpd by
year-end.
“The achievement of this important milestone at Silvertip builds
upon the strong momentum with which we have started 2018,” said
Mitchell J. Krebs, Coeur’s President and Chief Executive Officer.
“Ramp-up of milling rates and production is planned to continue
under temporary permit coverage through year-end. We expect to
submit an application for a full permit amendment during the second
quarter, receive approval by year-end and reach nameplate capacity
of 1,000 tpd in early 2019. Combined with our recent exit from
Bolivia and the release of Rochester’s noteworthy preliminary
economic assessment, we believe commencement of production at
Silvertip further demonstrates the growing strength of Coeur’s
North America-focused portfolio.”
About Coeur
Coeur Mining, Inc. is a well-diversified, growing precious
metals producer with five mines in North America employing
approximately 2,000 people. Coeur’s wholly-owned operations include
the Palmarejo silver-gold complex in Mexico, the Silvertip
silver-zinc-lead mine in British Columbia, the Rochester
silver-gold mine in Nevada, the Kensington gold mine in Alaska, and
the Wharf gold mine in South Dakota. In addition, the Company owns
the La Preciosa project in Mexico, a silver-gold exploration stage
project, and conducts exploration activities throughout North
America.
Cautionary Statements
This news release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding operations at Silvertip, including
production ramp-up, mill throughput, permitting efforts, and
results. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause Coeur's
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, the risk that the Silvertip
production ramp-up and permitting process is not successfully
achieved on a timely basis or at all, the risks and hazards
inherent in the mining business (including risks inherent in
developing large-scale mining projects, environmental hazards,
industrial accidents, weather or geologically related conditions),
changes in the market prices of gold and silver and a sustained
lower price environment, the uncertainties inherent in Coeur's
production, exploratory and developmental activities, including
risks relating to permitting and regulatory delays, ground
conditions, grade variability, any future labor disputes or work
stoppages, the uncertainties inherent in the estimation of gold,
silver, zinc and lead reserves and resources, changes that could
result from Coeur's future acquisition of new mining properties or
businesses, the loss of any third-party smelter to which Coeur
markets silver and gold, the effects of environmental and other
governmental regulations, the risks inherent in the ownership or
operation of or investment in mining properties or businesses in
foreign countries, Coeur's ability to raise additional financing
necessary to conduct its business, make payments or refinance its
debt, 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, and the Canadian securities regulators,
including, without limitation, Coeur's most recent report on Form
10-K. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180308006304/en/
Coeur Mining, Inc.Courtney Lynn, Vice President, Investor
Relations and TreasurerPhone: (312) 489-5800www.coeur.com
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