Coeur sees production drop

Lower silver and gold production resulted in a net loss of US$38.9 million (or $1.61 per share) for Coeur d’Alene Mines (CDE-N) in 1999, compared with a loss of US$244.8 million ($11.81 per share) in 1998.

Property writedowns last year consisted of a non-cash writedown of US$16.2 million covering the carrying value of the Yilgarn Star gold mine in Australia. Coeur holds a 25% stake in the mine through its half-interest in Gasgoyne Gold Mines.

Coeur produced 9.6 million oz. silver and 151,700 oz. gold in 1999, compared to 10.7 million oz. silver and 209,959 oz. gold in the previous year.

Cash costs on primary silver operations were US$4.17 per silver-equivalent ounce, slightly higher than in 1998. Cash costs at gold operations were US$290 per oz., also up from 1998.