Coeur’s La Preciosa PEA Shows Annual Silver Production of 9.1 Million Ounces for 14 Years
Coeur Mining Inc. (NYSE:CDE,TSX:CDM) announced results from the preliminary economic assessment (PEA) for its La Preciosa silver-gold project.
Coeur Mining Inc. (NYSE:CDE,TSX:CDM) announced results from the preliminary economic assessment (PEA) for its La Preciosa silver-gold project.
As quoted in the press release:
The PEA indicates an initial estimated mine life of 17 years recovering an estimated 134.5 million ounces of silver and generating a 17% after-tax internal rate of return (IRR) using price assumptions of $25 per silver ounce and $1,500 per gold ounce.
Coeur Mining’s President and CEO, Mitchell J. Krebs, said:
The results of this initial PEA demonstrate the viability of the La Preciosa open pit project at higher silver and gold prices and provide a solid foundation from which we believe we will enhance the project’s economics over time. Subject to Board authorization, the Company intends to proceed with a feasibility study, which is expected to be completed in mid-2014. Upon completion of the feasibility study, the Company and its Board will evaluate the economics of the project, assess the silver market and determine whether to proceed with construction.