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Coeur's silver output down, gold up in Q1'16

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Coeur's silver output down, gold up in Q1'16

Coeur Mining Inc.said April 7 that it produced 3.4 million ounces of silver and 78,072 ounces ofgold in the first quarter of 2016, compared to 3.8 million ounces of silver and69,734 ounces of gold produced in the sameperiod a year earlier.

The company revised the guidance for its share of silver outputfrom the Endeavormine in Australia to 175,000 ounces to 200,000 ounces, from 350,000 ounces to 400,000ounces, after operator Toho Zinc Co.Ltd. significantly cut production due to lower lead and zinc prices.

As a result, Coeur lowered its forecast silver output to 14.5 million ounces to 15.8 millionounces, from 14.6 million ounces to 16 million ounces.

Gold production guidance remains at 320,000 ounces to 347,000ounces of gold.

In March, Coeur soldits 2% net smelter return royalty on the silver and gold production of the silver-gold minein Chile to Mandalay Resources Corp.subsidiary Compania Minera Cerro BayoLtd. and entered into a definitive agreement to sell its 2.5% net smelter return royalty on the silver project inMexico to Kootenay Silver Inc.