Kensington leads Coeur to increased gold production

Higher production at Kensington Gold Mine near Juneau and a Nevada mine led Coeur d’Alene Mines to a 30 percent increase over the year in gold production.

The company says it produced 56,913 ounces of gold during the first quarter of 2013, compared to 43,901 in the first quarter of 2012.

A company news release says Kensington produced 25,206 ounces of gold in the first three months of this year, more than triple the production during the same period last year.

Coeur’s silver production of 3.8 million ounces was 22 percent less than first quarter 2012, due to lower grade ore processed from the Palmarejo  mine in Mexico.

Realized gold prices during the first quarter of this year averaged $1,630 an ounce, down 4 percent over the first quarter of 2012.  Silver was down 6 percent, averaging $30.61  per ounce.

Coeur is scheduled to report first quarter full operating and financial results on May 9th.


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