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Stock Market & Financial Investment News

News Breaks
July 20, 2014
16:15 EDTCDECoeur Mining committed to higher margin ounces, development of Palmarejo
Coeur Mining announced an updated and re-scoped mine plan and preliminary economic assessment for its Palmarejo silver and gold mine in Mexico. The New Mine Plan reflects the mine's transition to a lower tonnage, higher-grade, higher-margin underground operation prioritizing cash flow over production ounces. Mitchell J. Krebs, President and CEO, commented, "This updated outlook for Palmarejo is based on year-end 2013 reserves and resources that we believe are economic based on prices of $20 per ounce for silver and $1,300 per ounce for gold. It demonstrates our commitment to prioritizing higher-quality, higher-margin ounces versus seeking to maximize the quantity of production ounces. It also demonstrates the significance of Guadalupe to Palmarejo's future, which is why our recent decision to place Guadalupe into production next year was so important. In addition, the modified economics of the recently announced new gold stream agreement with Franco-Nevada will help boost Palmarejo's future cash flow profile. "This plan includes a small percentage of overall reserves and no resources other than 1.7 million tons of inferred resources that are included in the updated Guadalupe plan," Mr. Krebs continued. "This represents a solid base from which we expect to expand and improve our operations over time. We are confident we will further add to Palmarejo's mine life through ongoing exploration activities focused on adding higher-grade, higher-margin underground material."
News For CDE From The Last 14 Days
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April 27, 2015
19:17 EDTCDECoeur reports 89% increase in silver reserves, 76% increase in gold reserves
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April 20, 2015
10:00 EDTCDEOn The Fly: Analyst Upgrade Summary
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06:39 EDTCDECoeur Mining upgraded to Sector Perform from Underperform at Scotia Capital
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April 17, 2015
16:07 EDTCDEParamount Gold & Silver completes merger with Coeur Mining
Paramount Gold and Silver (PZG) announced that the proposals related to the merger agreement with Coeur Mining (CDE) were approved by both Paramount and Coeur stockholders and that the transaction has closed. Immediately prior to the consummation of the merger, Paramount distributed pro rata to its stockholders 8,101,371 shares of Paramount's wholly-owned subsidiary, Paramount Gold Nevada Corp. SpinCo is expected to begin "regular way" trading on the NYSE MKT on April 20 under the symbol "PZG", CUSIP number 69924M109. In connection with the completion of the transaction, Paramount's common stock will be delisted from the NYSE MKT and Toronto Stock Exchange. Paramount will no long trade as an independent company after market close and will be a wholly-owned subsidiary of Coeur.
April 14, 2015
07:06 EDTCDECoeur Mining sees FY15 production up 34% to 149,000 oz
Coeur Mining announced an updated and re-scoped mine plan and a preliminary economic assessment for its Kensington gold mine located in Southeast Alaska. The new mine plan reflects the recent discovery of the high-grade Jualin zone and indicates higher overall production and significantly higher cash flows due to the contribution of higher-grade material from three nearby zones. The Jualin zone, located approximately 8,250 feet from current mining activities, continues to expand based on ongoing drilling and contains an average gold grade over three times the average reserve grade of 0.185 oz/ton. Annual gold production between 2015 and 2020 at Kensington is expected to average approximately 128,000 ounces and costs applicable to sales are expected to average $820 per gold ounce. Production in 2014 was 117,823 ounces at a CAS of $951 per gold ounce. Mitchell J. Krebs, Coeur's CEO, stated, "Our recent success identifying high-grade mineralization near existing Kensington infrastructure has added higher-margin production to our mine plan and significantly improved the expected economics of the mine. Kensington's new mine plan is expected to be a key component of the company's overall strategic repositioning that is expected to increase overall production levels by approximately 30%, reduce overall unit costs by approximately 25%, and boost the company's free cash flow to $190M-$200M in 2017."

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