The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Coeur Mining Inc. May 4 reported first-quarter 2015 revenue of US$153 million, a US$12.4 million increase over the comparable sum in the fourth quarter of 2014.
The company attributes the 9 percent improvement in revenue to increased sales and slightly better prices for metals sold.
The Kensington gold mine in Southeast Alaska generated US$12.3 million in cash flow, and US$8.2 million in free cash flow, after capital expenditures.
Coeur said a 14 percent increase in average gold grade enabled lower throughput in the first quarter.
In April, the company released a re-scoped mine plan for Kensington that reflects the impact of mining the high-grade Jualin zone.
Mining rates at Jualin are expected to peak in 2018-2019 when annual production at Kensington is expected to average roughly 143,000 ounces at costs of about US$760 applicable to sales per oz gold.
Recent drilling results suggest the potential to expand the resource at Jualin and extend the 2017 -2019 production profile.
Coeur invested US$1.7 million on exploration at Kensington during the first quarter.
In 2015, Kensington is expected to produce 110,000 - 115,000 oz of gold at costs applicable to sales of US$900-$975/oz.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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