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Gold/Mining/Energy : Coeur d'Alene Mining (CDE) -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (273)	7/31/2000 3:05:15 AM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 621

Coeur Reports 42 Percent Increase in Silver Production in the Second Quarter COEUR D'ALENE, Idaho--(BUSINESS WIRE)--July 28, 2000--Coeur d'Alene Mines Corp. (NYSE:CDE - news) today reported a net loss attributable to common shareholders of $10.5 million, or $0.28 per share, in the second quarter of 2000 compared to a net loss of $9.6 million, or $0.44 per share, in the second quarter of 1999. The second quarter was highlighted by significant improvements in production and cash costs of production compared to the first quarter of the year. Based on the second quarter results, Coeur fully expects to meet its production targets for the year 2000. Second quarter results for the current year include a gain of $1.1 million on early retirement of $7.0 million of debt offset by a non-cash mark to market loss on the Company's gold price protection program of $0.5 million and a one time charge of $0.9 million related to the proposed settlement of a contractor dispute. Results for the second quarter of 1999 included the payment of dividends to preferred shareholders of $2.6 million. On March 15, 2000, Coeur's preferred shares (Mandatory Adjustable Redeemable Securities or MARCS) were converted into approximately 7.9 million common shares of the Company, accordingly no dividend was paid in the second quarter of 2000. In the first half of 2000, the Company had a net loss attributable to common shareholders of $22.5 million, or $0.66 per share, compared to $19.5 million, or $0.89 per share for the corresponding six-month period of 1999. Second Quarter Highlights Produced 3.0 million ounces of silver, a 42% increase as compared to the second quarter of 1999. Produced 35,849 ounces of gold, an 11% improvement over the first quarter of 2000. Cash costs at primary silver operations declined to $4.03 per ounce, 3.5% lower than the second quarter of 1999 and a 13% decline from the first quarter of 2000. Cash costs at primary gold operations were $316 per ounce compared to $278 per ounce in the second quarter of 1999. However, cash costs were $13 per ounce lower than the first quarter of 2000. Repurchased $7 million of the Company's 6% Convertible Subordinated Debentures due in 2002. Sold the Company's 20 percent net income royalty on Pan America Silver Corp.'s Quiruvilca silver mine in northern Peru for total consideration of $0.7 million, comprised of 140,000 common shares of Pan American, 100,000 share purchase warrants and $50,000. Completed the first phase of a major drilling program at Coeur's Rochester mine to delineate additional reserves and resources. Commenced the first phase of the year 2000 exploration drill and expansion program at Coeur Silver Valley. biz.yahoo.com XXXXXXXXXXXXX AWESOME Stuff in details, gold-eagle.com