Coeur d’Alene posts earnings

Idaho-based Coeur d’Alene Mines (NYSE) posted net earnings of US$494,000 for its 1992 first quarter, an improvement over the US$2.24-million loss reported for the comparable 1991 period.

A total of 1.6 million oz. silver and 12,769 oz. gold was produced during the first three months of this year, which compares with production of 1.8 million oz. silver and 13,773 oz. gold in last year’s first quarter. But the company was able to reduce its total expenses by about 45% in 1992 first quarter from the year-earlier period because of declines in administrative and general expense, exploration and interest expense, and expenses relating to the temporary closure of the Coeur mine in April, 1991. Coeur owns two of North America’s largest silver mines — Rochester in Nevada, and Galena near the company’s Coeur mine in Idaho. The company is also involved in several advanced gold projects, Kensington in Alaska and Fachinal in Chile, for example.