R/€ = 16.36 Change: 0.00
R/$ = 14.26 Change: -0.01
Au 1232.58 $/oz Change: 0.08
Pt 832.50 $/oz Change: 4.25
 
 
R/€ = 16.36 Change: 0.00
R/$ = 14.26 Change: -0.01
Au 1232.58 $/oz Change: 0.08
Pt 832.50 $/oz Change: 4.25
 
 
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Coeur maintains guidance despite lower Q3 output

10th October 2018 BY: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
Palmajero in Mexico
Palmajero in Mexico

NYSE-listed miner Coeur Mining has maintained its production guidance for the year, despite reporting lower third-quarter production results, at 8.5-million ounces of silver equivalent.

The company, which owns mines in Mexico, the US and Canada, produced 2.9-million ounces of silver, 88 833 oz of gold, 2.2-million pounds of zinc and 1.2-million pounds of lead in the quarter ended September 30.

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This compares with 9.1-million ounces of silver equivalent in the second quarter of 2018 and 8.6-million ounces of silver equivalent in the comparable period of 2017.

Coeur stated on Tuesday that it still expected to meet its guidance of 36.1-million to 39.5-million ounces of silver equivalent, consisting of 13-million to 14.3-million ounces of silver, 363 000 oz to 382 000 oz of gold, 13-million to 23-million pounds of zinc and 11-million to 18-million pounds of lead.

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The guidance was revised last month, following improved visibility of production from the Silvertip mine, which entered commercial production on September 1.

Metal sales for the third quarter came to 3-million ounces of silver, 89 609 oz of gold, 1.8-million pounds of zinc and 1.6-million pounds of lead.

In Mexico, the Palmarejo mine’s silver-equivalent production was 3.2-million ounces, compared with 4.7-million ounces in the previous quarter and 4.1-million ounces in the prior-year quarter. Production was impacted by the temporary suspension of mining activities relating to fatalities, supply chain disruptions stemming from road blockades and weather-related interruptions.

In the US, the Nevada-based Rochester mine increased its silver-equivalent production by 17% quarter-on-quarter to 2.2-million ounces, the Wharf, in South Dakota, delivered 14% less gold production output, in a quarter-on-quarter basis, at 19 646 oz and Kensington, in Alaska, increased by 5% quarter-on-quarter to 26 809 oz.

Silvertip, in British Columbia, produced 286 000 oz of silver equivalent in the third quarter, comprising 96 000 oz of silver, 2.2-million pounds of zinc and 1.2-million pounds of lead. 

EDITED BY: Creamer Media Reporter
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