The owner and operator of the Kensington Mine says last quarter was an all-time company record for any third quarter. Metal sales for company’s entire operations came in over $343 million dollars. That’s nearly half-again higher than the second quarter of 2011 and nearly three times as much as the third quarter of 2010.
Sales for the first nine months of 2011 totaled $774 million.
Coeur d’Alene Mines came out with their third quarter results Monday morning. They reported adjusted earnings of nearly $94 million or a $1.05 a share. That’s a big change from last year’s third quarter net loss of $4.5 million or $0.05 a share.
There was a record $151 million of operating cash flow for the third quarter as well. Overall silver production for entire company was up to 4.9 million ounces for the company, while gold production was down slightly to 57,052 ounces.
In addition to the Kensington Mine near Juneau, Coeur d’Alene Mines also operates the Rochester silver mine in Nevada, the San Bartolome silver mine in Bolivia, and the Palmarejo silver and gold mine in Mexico which is considered the company’s biggest generator of sales and cash flow.
Latest exploration efforts at the Kensington Mine included the Raven zone that’s located west of the Kensington ore body, and a new target called Kensington South.
Meanwhile, company officials say processing at Kensington will be reduced to 700 tons per day, about half of previous levels.
That’s expected to allow time to accelerate underground development, a fill-in drilling program, completion of an underground paste backfill plant and other facilities underground and on the surface, and overall safety improvements.
- The Department of Fish and Game will pull the north line of the Ugashik District back away from the haulout site again, Salomone said, the same as last year. The exact coordinates will be published with the first announcement from Fish and Game about June 1.
- The Navy will scan Kodiak and Unalaska waters for World War II-era munitions using underwater drones next month, as part of an ongoing effort to eventually remove the explosives. What could happen and whether the historic weapons would detonate is unclear.
- Whales might be the largest animals on the planet, but they haven't always been so huge. Researchers say the ocean giants only became enormous fairly recently, and over a short period of time.
- Typical criminal cases go to local district attorneys for consideration. The head of the Office of Special Prosecutions wouldn't elaborate on why this case was in his office.