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Coeur again lowers FY'17 silver equivalent production forecast

Coeur Mining Inc. once again lowered its silver production target for 2017 but maintained its gold production forecast.

The company said Oct. 5 that it now expects full-year silver production to fall between 15.3 million ounces and 16.6 million ounces, compared to the previous forecast of between 15.8 million ounces and 17.2 million ounces, on the back of anticipated lower production at the San Bartolome mine due to persistent drought conditions.

The company still expects to produce between 367,000 ounces and 392,000 ounces of gold, but silver equivalent production is now expected to be between 37.3 million and 40.1 million silver equivalent ounces, down from between 37.8 million and 40.7 million silver equivalent ounces.

For the third quarter, the company's silver equivalent production rose 10% year over year to 9.5 million ounces, with silver and gold output increasing by 11% and 10% to 4.0 million ounces and 93,293 ounces, respectively.