Coeur Announces Achievement of Key Milestones at Expanded Rochester Mine
September 12 2024 - 6:00AM
Business Wire
Mining and placement rates remain on-track
Confirming full-year silver and gold production
ranges
Average crushing size trending toward year-end
target
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
provided an operational update at the expanded Rochester
silver-gold mine in Nevada, including positive throughput trends
and significant progress on reducing overall crushing size.
The new three-stage crushing circuit continues to deliver
greatly enhanced levels of flexibility to accommodate the full
range of mined ore at Rochester. For the month of August,
approximately 2.7 million tons were placed on the new Stage VI
leach pad, representing a 39% increase over July placement levels.
Rochester remains on-track to place 7.0 – 8.0 million tons per
quarter during the second half of 2024 and to achieve its full-year
2024 production guidance of 4.8 – 6.6 million ounces of silver and
37,000 – 50,000 ounces of gold.
With the three-stage crusher fully ramped-up, the focus during
the second half of the year has shifted to particle sizing
optimization efforts, which are already exceeding expectations. The
Company aims to end 2024 with reaching design particle size
distribution (PSD) of approximately 80% passing 5/8 inch. Recent
particle size distribution is reaching an average PSD of
approximately 80% passing 3/4 inch, giving the Company confidence
of achieving the year-end target.
“In just six months since first processing ore through the
newly-expanded operation, the Rochester team continues to meet or
exceed expectations across a number of key performance metrics,
which is expected to be a key catalyst for generating Companywide
positive free cash flow during the second half of the year,” said
Mitchell J. Krebs, Chairman, President and Chief Executive Officer.
“With crushing and placement rates consistently achieving nameplate
capacity, the focus over the remainder of 2024 is on continuing to
reduce the material crush size to achieve optimum recovery rates as
we head into 2025. Additionally, recent exploration success within
the current mining footprint continues to provide higher-grade
upside potential to the current mine plan and positions Rochester
for sustained success over a long expected mine life.”
About Coeur Coeur Mining, Inc. is a U.S.-based,
well-diversified, growing precious metals producer with four
wholly-owned operations: the Palmarejo gold-silver complex in
Mexico, the Rochester silver-gold mine in Nevada, the Kensington
gold mine in Alaska and the Wharf gold mine in South Dakota. In
addition, the Company wholly-owns the Silvertip polymetallic
critical minerals exploration project in British Columbia.
Cautionary Statements This news release contains
forward-looking statements within the meaning of securities
legislation in the United States and Canada, including statements
regarding the Company’s anticipated production, cash flow,
operations, expectations and initiatives at Rochester. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause Coeur’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, the risk that anticipated production levels are not
attained, the risks and hazards inherent in the mining business
(including risks inherent in developing large-scale mining
projects, environmental hazards, industrial accidents, weather or
geologically-related conditions), the uncertainties inherent in
Coeur’s production, exploratory and developmental activities,
including risks relating ground conditions and, grade and recovery
variability, any future labor disputes or work stoppages (involving
the Company and its subsidiaries or third parties), the loss of
access or insolvency of any third-party refiner or smelter to which
Coeur markets its production, the potential effects of future
pandemics, including impacts to the availability of our workforce,
government orders that may require temporary suspension of
operations at one or more of our sites and effects on our suppliers
or the refiners and smelters to whom the Company markets its
production and on the communities where we operate, the effects of
environmental and other governmental regulations and government
shut-downs, as well as other uncertainties and risk factors set out
in filings made from time to time with the United States Securities
and Exchange Commission, and the Canadian securities regulators,
including, without limitation, Coeur’s most recent reports on Form
10-K and Form 10-Q. Actual results, developments and timetables
could vary significantly from the estimates presented. Readers are
cautioned not to put undue reliance on forward-looking statements.
Coeur disclaims any intent or obligation to update publicly such
forward-looking statements, whether as a result of new information,
future events or otherwise. Additionally, Coeur undertakes no
obligation to comment on analyses, expectations or statements made
by third parties in respect of Coeur, its financial or operating
results or its securities. This does not constitute an offer of any
securities for sale.
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version on businesswire.com: https://www.businesswire.com/news/home/20240912656570/en/
Coeur Mining, Inc. 200 S. Wacker Drive, Suite 2100 Chicago,
Illinois 60606 Attention: Jeff Wilhoit, Senior Director, Investor
Relations Phone: (312) 489-5800 www.coeur.com
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