Little good news, in Pit of Doom. NEWS
biz.yahoo.com
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Oct. 4, 2000--Coeur d'Alene Mines Corporation (NYSE:CDE - news)
reported increased production and sharply lower production costs at its Coeur Silver Valley operations near Wallace, Idaho.
For the months of June, July and August, production averaged 371,000 ounces of silver per month, a 36% increase or 98,000
ounces per month above the average for the first five months of 2000. Cash costs during the same three-month period declined
to an average of $4.08 per ounce from $5.47 per ounce during the first five months of the year and well below the 1999
average of $5.09 per ounce. A combination of factors has contributed to this significant improvement in operating performance.
These include greater productivity, increased production from higher grade stopes and higher throughput as a result of
accelerated underground development.
Commenting on the improvement, Robert Martinez, Senior Vice President and Chief Operating Officer said, ``Starting late last
year, we expended considerable time and effort to focus our mining activities on the higher-grade veins. By accelerating
development and consolidating underground operations, the mine has been able to deliver more tons at a more consistent grade
to the mill. This effort started to pay dividends in June and we expect the improved production stream to continue throughout
the balance of the year.'' |
