Coeur Reports Q1 Results, Maintains 2015 Production Guidance

Coeur Mining Inc. (NYSE:CDE) announced its results for the first quarter of 2015, noting that it produced 3.8 million ounces of silver and 69,734 ounces of gold. That comes to 8 million silver equivalent ounces.

Other highlights include:

• Adjusted all-in sustaining costs were $17.66 per silver equivalent ounce, down 8% from the fourth quarter
• Adjusted costs applicable to sales per silver equivalent ounce were $13.71, a 5% decrease from the fourth quarter and the lowest level in a year
• Adjusted costs applicable to sales per gold ounce at Kensington were $797, almost unchanged from the fourth quarter
• Adjusted costs applicable to sales per silver equivalent ounce at Palmarejo dropped 7% from the fourth quarter to $14.56
• Adjusted costs applicable to sales per silver equivalent ounce at Rochester were $12.95, down 6% from the fourth quarter
• Acquired the Wharf gold mine from a subsidiary of Goldcorp for $103 million in cash
• Cash, cash equivalents, and short-term investments were $179.6 million at March 31, 2015
• Shares issued and outstanding were 136.0 million as of May 1, 2015

In terms of its outlook for 2015 the company said:

Coeur is maintaining its 2015 production guidance of 14.8 – 16.0 million silver ounces and 294,000 – 323,000 gold ounces and is also maintaining its guidance for all-in sustaining costs per silver equivalent ounce of $17.50 – $18.50 and costs applicable to sales as follows:

• $16.25 – $17.75 per silver equivalent ounce at Palmarejo
• $12.50 – $14.00 per silver equivalent ounce at Rochester
• $13.50 – $15.00 per silver equivalent ounce at San Bartolomé
• $900 – $975 per gold ounce at Kensington
• $750 – $825 per gold equivalent ounce at Wharf

To incorporate the acquisition of Paramount Gold and Silver Corp. which closed on April 17, 2015, Coeur is raising its capital expenditure guidance from $85 – $95 million to $95 – $105 million and its exploration guidance from $10 – $12 million to $13 – $16 million. General and administrative expense guidance is unchanged at $36 – $39 million.

Click here to read the full Coeur Mining Inc. (NYSE:CDE) press release.