Mining and placement rates remain on-track
Confirming full-year silver and gold production ranges
Average crushing size trending toward year-end target
CHICAGO--BUSINESS WIRE--
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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