Coeur Mining invested US $ 22.2 million in 1Q20
Coeur Mining, Inc. reported capital expenditures of $ 22.2 million in the first quarter of 2020, a 19 percent year-on-year drop.
Capital expenditures in the three months ended March 31, 2020 were primarily related to underground development in Silvertip, Palmarejo, and Kensington and Amendment 11 capital expenditures from Operations 11 in Rochester.
Palmarejo
Coeur Mining owns 100% of Coeur Mexicana S.A. de C.V. (Coeur Mexicana), which has operated the Palmarejo complex in the state of Chihuahua in northern Mexico since 2009.
The processing facility at the Palmarejo complex is fed by the Guadalupe, Independencia and La Nación underground mines.
The company also has several exploration objectives at the Palmarejo complex.
The Palmarejo complex produced 111,932 ounces of gold and 6.8 million ounces of silver in 2019. Proven and probable reserves at the Palmarejo complex totaled 693,000 ounces of gold and 50.5 million ounces of silver as of December 31, 2019.
Silvertip
Coeur Mining owns 100% of Coeur Silvertip Holdings Ltd. (Silvertip), which operates the Silvertip underground silver-zinc-lead mine located in northern British Columbia, Canada.
Coeur acquired Silvertip in October 2017 and began commercial production in September 2018.
In 2019, the Silvertip mine produced a total of 1.2 million ounces of silver, 17.1 million pounds of zinc and 16.6 million pounds of lead.
Proven and probable reserves at the Silvertip mine totaled 15.0 million ounces of silver, 295.4 million pounds of zinc and 196.5 million pounds of lead as of December 31, 2019.
Kensington
Coeur Mining owns 100% of Coeur Alaska, Inc. (Coeur Alaska), which has operated the Kensington Mine, an underground gold mine located north of Juneau, Alaska since 2010.
The Kensington mine produced a total of 127,914 ounces of gold in 2019.Proven and probable reserves at the Kensington mine totaled 366,000 ounces of gold as of December 31, 2019.
