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Coeur Q2 gold output up, silver output slips

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Coeur Q2 gold output up, silver output slips

Chicago-based precious metals producer has increased itssecond-quarter gold output by 14.7%, but witnessed a roughly 7% decline in itssilver output compared to the same quarter of 2015, according to a July 7statement.

Overall, however, total silver equivalent production climbed5.5% year over year to 9.6 million ounces.

Gold production was higher due to an increase in grades fromthe underground operations at the Guadalupe mine in Mexico and higher grades and timing ofrecoveries at the Wharf mine in South Dakota.

Silver output, meanwhile, was largely impacted by the declineof production from Coeur's silver stream on the Endeavor mine in New South Wales, Australia,where production has been curtailed due to lower lead and zinc prices.

However, Coeur maintained its revised 2016 guidance of175,000 ounces to 200,000 ounces of silver for the Endeavor mine.

Companywide full-year production is still expected to be320,000 ounces to 347,000 ounces of gold and 14.6 million ounces to 16.0million ounces of silver, or 33.8 million silver equivalent ounces to 36.8million silver equivalent ounces.