Coeur d'Alene Mines - Increasing Production & Cash Flow

5 Silver, 1 Gold mine(s) operating - Reserves of: Silver 500m oz, Gold 5m oz

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Durango Receives Additional Offer On Windfall Gold Camp Property

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  • Additional unsolicited offer was received on its Trove Property located in the Windfall-Urban gold camp district of northern Quebec
  • 100% wholly owned Trove Property adjoins Osisko Mining (TSX-OSK) in the Windfall-Urban gold camp where Osisko is drilling a 400,000 metre program
  • Trove also adjoins Beaufield Resources (TSX.V-BFD) which holds multiple projects in the area and currently have drill programs underway   

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Namaste Acquires Australian Vaporizers and Increases Bought Deal to $7.5M

  • Entered into a definitive agreement with Australian Vaporizers PTY Limited
  • Company’s website www.australianvaporizers.com.au has approximately 80% of the market share
  • For period ended June 30, 2016, the company produced approximately $4.5 million of revenue and $1.1 million of EBITDA

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Message: Coeur forecasts strong year ahead in silver, gold production

Coeur forecasts strong year ahead in silver, gold production

posted on May 12, 2009 09:29AM

http://www.mineweb.com/mineweb/view/...



Coeur forecasts strong year ahead in silver, gold production

Coeur d'Alene Mines CEO Dennis Wheeler says his company's growth strategy is coming together "at a time when market conditions where precious metals are particularly favorable."

Author: Dorothy Kosich
Posted: Tuesday , 12 May 2009

RENO, NV -

Coeur d'Alene Mines CEO Dennis Wheeler told analysts Monday that the Idaho-based silver miner expects to increase silver production 66% and gold production by 85% this year.

Coeur also reported a record 65% increase in silver production during the first-quarter 2009, a total of 3.9 million ounces. "We've got two new silver mines at Coeur, explosive growth, a rock solid balance sheet, and enjoy great silver and gold fundamentals," Wheeler declared.

Wheeler told analysts the company will drive cash operating costs down 11% and operating costs down 37%. "Margin expansion is the name of the game here, and we expect it to translate into better operating cash flow, $100 million for 2009, which would be a 733% increase over last year."

Coeur will complete its internal review of the Cerro Bayo mine plan later this year, Wheeler said, adding the U.S. Supreme Court is expected to soon render its decision on the Kensington gold mine project in Alaska.

He noted that the Supreme Court has requested some limited additional briefings. "Frankly we don't see this as any indication one way or the other after the legal team has review this matter as far as the eventual decision."

The company reported quarterly net income of $6.1 million or 1-cent per share for the first quarter of this year, up from $5.4 million (1-cent/sh) for the same quarter of 2008.

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