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Coeur Mining Inc. (NYSE:CDE) announced plans to buy the Wharf gold mine from Goldcorp Inc. (TSX:G,NYSE:GG) for $105 million in cash. It is located near Lead, South Dakota.
Coeur Mining Inc. (NYSE:CDE) announced plans to buy the Wharf gold mine from Goldcorp Inc. (TSX:G,NYSE:GG) for $105 million in cash. It is located near Lead, South Dakota.
Acquisition highlights include:
- Mine expected to produce 85,000 – 90,000 ounces of gold in 2015 at an all-in sustaining cost of $800 – $875 per gold ounce1
- Expected to increase Company’s 2015 EBITDA by over 30% and boost free cash flow
- Anticipated to reduce Coeur’s consolidated unit costs
- Provides quality, immediate growth from accretive transaction
- Adds stable, established source of production and cash flow to Coeur’s existing portfolio
- Enhances Company’s overall geopolitical risk profile
- Leverages Coeur’s 25 years of open-pit, heap leach experience
- Would represent a 24% increase to Coeur’s total gold reserves2
Click here to read the full Coeur Mining Inc. (NYSE:CDE) press release.