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CXC, COEUR D'ALENE MINES CORPORATION
macduffy
post Posted: Sep 15 2010, 05:40 PM
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In Reply To: triage's post @ Sep 15 2010, 01:46 PM

A big disappointment all round but perhaps Coeur is doing us a favour.

Methinks it's time to let go the silver dream. At least my goldies are all performing - PoG seems to be a better proposition than trying to figure out what's what with the silver stuff.

Disc: Holding CXC but probably not for much longer!

 
mullokintyre
post Posted: Sep 15 2010, 01:52 PM
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In Reply To: triage's post @ Sep 15 2010, 01:46 PM

Ahhh triage, Macmin... brings tears to the eyes!! But I have got some of it back with trading AYN the company that arose phoenix like from MMN ashes. Still got a bundle that I paid 0.021 for. Looking for silver to be my saviour.
Mick



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triage
post Posted: Sep 15 2010, 01:46 PM
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In Reply To: mullokintyre's post @ Sep 15 2010, 12:25 PM

Yeah Mick and bb but change is always good rolleyes.gif .

CXC has actually been a chronic dog, for me at least, and it is fairly easy to fall out of love with it: how long before the whackos want to get hold of the revenues from the Bolivian mine, and Mexico looks more and more like turning into a basket case, and there always have been lingering doubts around about the boss of CXC. This is the second silver stock I've done badly with, Macmin was another fail for me.

Ah well, lots of stocks are popping at the moment, plenty of interest in gold companies in particular. Not sure how temporary this spurt will be but time to re-allocate.



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
mullokintyre
post Posted: Sep 15 2010, 12:25 PM
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In Reply To: bam_bamm's post @ Sep 15 2010, 11:12 AM

Howdy BB, yeah I am devastated about this. But I am going to hold onto mine for at least another week or two to squeeze some more out of it.
Mick



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bam_bamm
post Posted: Sep 15 2010, 11:12 AM
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just when things were starting to look good with Kensington and Palmerejo, and the spot price of silver is heading north...



QUOTE
COEUR TO DELIST FROM AUSTRALIAN STOCK EXCHANGE (ASX)

COEUR D’ALENE, Idaho – September 14, 2010 - Coeur d’Alene Mines Corporation (NYSE:CDE; TSX:CDM; ASX:CXC) today announced details of its proposed delisting from the official list of ASX Limited (ASX) effective from the close of market on December 14, 2010.

Coeur’s common shares are currently listed for trading on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). Additionally, Coeur’s CHESS Depositary Interests (CDI’s) are traded on the Australian Securities Exchange (ASX) under the code CXC. CHESS is the electronic settlement system used in Australia.

Coeur was admitted to the official list of the ASX on December 12, 2007. Today, Coeur’s number of CDIs quoted on the ASX represents only approximately 4.95% of the total number of outstanding Coeur common shares. Coeur’s decision to delist is due to the low level of CDIs now quoted on the ASX compared to Coeur’s current issued share capital and the low level of trading on the ASX compared to the NYSE and TSX. Coeur has formed the view that sustaining the administrative costs of an ASX listing, including the higher level of regulatory compliance costs associated with multiple listings, is not justifiable.






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macduffy
post Posted: Aug 12 2010, 11:38 AM
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In Reply To: farmer fred's post @ Aug 12 2010, 11:27 AM

Here's hoping that the gold output outlives the royalty obligation by a good stretch!

smile.gif

 

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farmer fred
post Posted: Aug 12 2010, 11:27 AM
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In Reply To: macduffy's post @ Aug 12 2010, 10:20 AM

Thanks for that macduffy. At least when we get these royalty adjustments it means we are getting a great price for the rest of the gold they are producing and if there is any downward movement in the price of gold these non cash adjustments will reverse.
The forecast of $100m free cashflow for this year looks good and should build again next year with the big mines all operational. Hopefully up from here.

 
macduffy
post Posted: Aug 12 2010, 10:20 AM
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In Reply To: farmer fred's post @ Aug 11 2010, 09:30 AM

Yes, another quarterly loss, but it's not all bad news for Coeur.

http://www.mineweb.co.za/mineweb/view/mine...&pid=102055


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farmer fred
post Posted: Aug 11 2010, 09:30 AM
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In Reply To: farmer fred's post @ Aug 10 2010, 06:41 AM

Finally got our 2nd quarter report, would have thought they would have released it yesterday since they had it out in the US before our market opened yesterday. Another loss, mainly caused by non cash adjustment again on the royalty obligations to Franco Nevada due to rising precious metal prices. At least cash flow from operating activity has doubled from last year to $32m and capital expenditure should start reducing now with all mines in production.
This article from Motley fool summarises pretty neatly feelings of most shareholders.
"I don't know how much more of this I can take, but I know I'm going to take more.

Anyone with an eye on precious metal miners knows the saga by now: 82-year-old senior silver producer Coeur d'Alene Mines (NYSE: CDE) was nearly crushed by the combined weight of the 2008 metals correction and a series of setbacks in its aggressive multimine build-out phase.

Since the company moved from the bottom of the heap to near the top of the silver sector virtually overnight, a battalion of battle-weary investors has awaited an overdue reward for their enduring patience, preferably on the company's bottom line. Given the sector's impressive record of recent margin expansion, the second quarter seemed an appropriate time for Coeur d'Alene Mines to deliver significant profitability.

Unfortunately, despite very impressive operational achievements, Coeur posted a second-quarter net loss of $50.7 million, following a painful $42.5 million fair-value adjustment relating to the company's gold royalty obligation (at least 400,000 ounces of the Palmarejo Mine's future production) with royalty specialist Franco-Nevada.

Essentially, the cost of the company's $75 million capital injection, which helped bring Palmarejo into production and ease a major crisis of confidence in the shares, continues to rise alongside the price of gold. Royalty payments in the second quarter raised total cash costs of production by 4% over the cash operating cost of $8.06 per ounce.

As disappointing as that fair-value adjustment is to shareholders waiting for a lift from Coeur d'Alene, this Fool intends to stick around for the long haul. Near-term escalation of production costs causes me little concern, since it's not uncommon among miners executing simultaneous ramp-ups on multiple mines. For the full year 2010, Coeur intends to deliver 17.3 million ounces of silver (with 170,000 ounces of gold).

Coeur is guiding for significant operational improvement over the balance of the year. Part of that improvement will stem from higher-grade ores and improved ore blending procedures at Palmarejo, while the ramp-up underway at the new Kensington gold mine in Alaska will chip in some seriously cost-cutting gold production through the balance of the year.

Production from Palmarejo rose sharply for the month of July, and cash costs plummeted, from the $10.78 recorded in the second quarter to a negative cost (after gold credits) of ($0.97) per ounce. Despite a rough start, Coeur expects the mine's full-year cost to reach just $3 per ounce."

Full article
http://www.fool.com/investing/general/2010...vers-heart.aspx








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farmer fred
post Posted: Aug 10 2010, 06:41 AM
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In Reply To: macduffy's post @ Jun 29 2010, 07:19 AM

Closed slightly down last night in the US but up in after hours trade after 2nd quarter earnings released after hours.


"Coeur Posts Record Quarterly Sales and Operating Cash Flow as Its New Kensington Gold Mine Joins Company's Two Other New, Long-Life Mines in Production</H1>
[b]Highlights:

  • Record metal sales of $101.0 million, 49% higher than last year's second quarter and 15% higher than first quarter
  • Record operating cash flow of $32.5 million, 116% higher than last year's second quarter and up from ($9.2) million in first quarter
  • Gold production up 68% to 23,124 ounces compared to last year's second quarter
  • Silver production up 7% to 4.2 million ounces compared to last year's second quarter
  • Kensington ramp-up exceeding plan; plant reaching design capacity; on-target for 2010
  • Palmarejo silver and gold production up significantly from last year's second quarter
  • San Bartolomé silver production increased 79% while cash operating costs dropped 22% compared to the previous quarter; operations continue to perform according to plan1
  • Maintaining overall 2010 production outlook of 17.3 million ounces of silver and approximately 170,000 ounces of gold"
[/b]


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