Mining News: News Nuggets: Kensington generates US$12.3M in cash

Coeur Mining Inc. May 4 reported first-quarter 2015 revenue of US$153 million, a US$12.4 million increase over the comparable sum in the fourth quarter of 2014. The company attributes the 9 percent improvement in revenue to increased sales and slightly better prices for metals sold. The Kensington gold mine in Southeast Alaska generated US$12.3 million in cash flow, and US$8.2 million in free cash flow, after capital expenditures. Coeur said a 14 percent increase in average gold grade enabled lower throughput in the first quarter. In April, the company released a re-scoped mine plan for Kensington that reflects the impact of mining the high-grade Jualin zone. Mining rates at Jualin are expected to peak in 2018-2019 when annual production at Kensington is expected to average roughly 143,000 ounces at costs of about US$760 applicable to sales per oz gold. Recent drilling results suggest the potential to expand the resource at Jualin and extend the 2017 -2019 production profile. Coeur invested US$1.7 million on exploration at Kensington during the first quarter. In 2015, Kensington is expected to produce 110,000 - 115,000 oz of gold at costs applicable to sales of US$900-$975/oz.

- Shane Lasley

---

Did you find this article interesting?

Tweet it

Digg it

Print this story | Email it to an associate.

Click here to subscribe to Mining News North of 60 for as low as $89 per year