Coeur Mining: 2Q Production In Line With Expectations
Coeur reported April-June production of 86,584 ounces of gold, 3.1 million ounces of silver, 5.3 million pounds of zinc and 5 million pounds of lead. Metal sales for the quarter were 86,385 ounces of gold, 3 million ounces of silver, 5.3 million pounds of zinc and 5.2 million pounds of lead.
The company reiterated its 2019 production guidance from the beginning of May, when Coeur said it expects to produce between 334,000 and 372,000 ounces of gold this year, 12.2 million to 14.7 million ounces of silver, 25 million to 40 million pounds of zinc, and 20 million to 35 million pounds of lead.
"Our second-quarter operational results were in-line with our expectations and reflect solid, double-digit production increases across all four metals we produce," said Mitchell J. Krebs, president and chief executive officer.
“We continue to deliver quarter-over-quarter improvements at Silvertip, which is a top initiative for the company this year. Production increased at Palmarejo due to higher throughput and recovery rates, while Kensington continued to benefit from higher grades from the Jualin deposit. Wharf is expected to benefit from a combination of higher grades and the placement of additional ore during the second half to achieve its full-year plan.”
Meanwhile, commissioning of a high-pressure grinding roll unit continues at the Rochester mine.
“We expect the new crushing configuration to begin crushing ore in early August, which is approximately four weeks later than originally scheduled due to a new secondary crusher unit that required replacement," Krebs said. "Overall, we remain confident in our ability to achieve our full-year production guidance at each of our operations."