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.

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.

To view the whole press release, click here.