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Coeur 1Q Silver-Equivalent Output Up From Year Ago, Down From 4Q

Kitco News

(Kitco News) - Coeur Mining, Inc. (NYSE: CDE) posted first-quarter production of 8.3 million silver-equivalent ounces that included 3.2 million silver ounces and 85,383 gold ounces, the company said Monday.

The company left full-year guidance at between 36 million and 39.4 million ounces.

The first-quarter output was up slightly from 8 million silver-equivalent ounces in the same quarter of 2017 although down from the record 10.8 million in the fourth quarter. The data are for the company’s existing mines and exclude San Bartolome after divesture of this operation.

The 3.2 million silver ounces in the January-March period was up from 2.7 million in the year-ago quarter but down from 3.7 million in the fourth quarter. The 85,383 gold ounces was down from 88,218 a year ago and 118,756 in the fourth quarter.

During the first quarter, Coeur announced that it began output at its Silvertip mine in British Columbia ahead of schedule. Mill throughput continues to ramp up, with commercial production expected by mid-year, Coeur said.

The company’s guidance calls for Silvertip to provide 4.03 million to 5.08 silver-equivalent ounces in 2018, including 1.5 million to 2 million silver ounces, as well as zinc and lead.

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