Record quarter for Coeur D’Alene Mines

Lower production costs and increased gold output at the Rochester mine were factors which contributed to a record third quarter for Coeur D’Alene Mines.

The company reported third- quarter income of $5.7 million (U.S.) or 51 per share on $30.8 million in revenues compared to $4.7 million or 47 per share on revenues of $23.7 million at the same time last year.

During the first nine months of 1988, the company increased its net income to $11.5 million or $1.11 per share from $7.7 million or 89 per share in the same period in 1987.

Revenues for the nine month period almost doubled to $63.8 million from $38.7 million last year.

Gold production during the first nine months of 1988 was up 36% to 54,383 oz from 40,056 oz reported on Sept 30 last year. Silver output also increased substantially to 4.3 million oz from 3.3 million oz last year.