-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F5wo4slgaw7pQzL78i5piZRYt8oBQpZwBlFLOGz5+Af71veqwR1p9c9jkXbrHLWi RZvxp6VEswSnChUh3b4KtQ== 0000897069-08-001562.txt : 20081015 0000897069-08-001562.hdr.sgml : 20081015 20081015135006 ACCESSION NUMBER: 0000897069-08-001562 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20081013 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081015 DATE AS OF CHANGE: 20081015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COEUR D ALENE MINES CORP CENTRAL INDEX KEY: 0000215466 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 820109423 STATE OF INCORPORATION: ID FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08641 FILM NUMBER: 081124601 BUSINESS ADDRESS: STREET 1: 400 COEUR D ALENE MINES BLDG STREET 2: 505 FRONT AVE CITY: COEUR D ALENE STATE: ID ZIP: 83814 BUSINESS PHONE: 2086673511 MAIL ADDRESS: STREET 1: 400 COEUR D ALENE MINES BLDG STREET 2: 505 FRONT AVE CITY: COEUR D STATE: ID ZIP: 83814 8-K 1 cmw3784.htm CURRENT REPORT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): October 13, 2008

COEUR D’ALENE MINES CORPORATION
(Exact name of Registrant as specified in its charter)

Idaho 1-8641 84-0109423
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)

505 Front Avenue, 83814
Coeur d’Alene, Idaho (Zip Code)
(Address of Principal Executive Office)

Registrant’s telephone number, including area code: (208) 667-3511

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[__] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[__] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[__] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[__] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 2.02 Results of Operations and Financial Condition.

        On October 13, 2008, the Registrant issued a press release providing production guidance and announcing its expectations regarding the Registrant’s financial results for the quarter ended September 30, 2008. A copy of the Registrant’s press release is attached as Exhibit 99 to this Current Report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is furnished herewith:

  Exhibit 99 Press Release issued by the Registrant on October 13, 2008.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

COEUR D’ALENE MINES CORPORATION
(Registrant)


Dated:  October 14, 2008
By:  /s/ Mitchell J. Krebs
        Mitchell J. Krebs
        Senior Vice President and
        Chief Financial Officer
EX-99 2 cmw3784a.htm PRESS RELEASE

NEWS RELEASE


COEUR CONFIRMS 2008 PRODUCTION GUIDANCE AND PROVIDES UPDATES

COEUR D’ALENE, Idaho – October 13, 2008 — Coeur d’Alene Mines Corporation (NYSE:CDE, TSX:CDM, ASX:CXC)  today provided updates on production activities at its San Bartolomé silver mine in Bolivia, construction activities at its Palmarejo silver and gold project in northern Mexico, and exploration and operational activities at its Cerro Bayo silver and gold mine in Chile.

Coeur confirmed its production guidance of approximately 13 million ounces of silver for 2008 and announced that, based on preliminary results for the third quarter of 2008, it expects lower revenue and a net loss in the quarter similar to the net loss reported in the prior quarter, reflecting lower silver prices and operational factors at San Bartolomé and Cerro Bayo.

The company also announced that it has completed a comprehensive companywide cost reduction review, an initial component of which was a recently enacted 50% reduction in the workforce at its Coeur Alaska subsidiary.  The complete details of this review and cost reduction plan will be discussed in greater detail when the Company reports its full third quarter results on October 31st.

San Bartolomé – Nearing Planned Production Rates

Coeur reported that production at its new San Bartolomé silver mine in Bolivia continues to ramp-up.  While costs have remained high due to start-up related issues, Coeur anticipates operating costs to decline as production levels continue to increase. 

San Bartolomé has produced approximately 730,000 ounces year-to-date, with September production of nearly 390,000 ounces.  The mine is expected to produce nearly 700,000 ounces in October and approximately 3.2 million ounces in 2008.  Full production capacity is expected to be achieved in the fourth quarter and the 2009 production forecast remains 9.0 million ounces of silver.  

The Company will provide a more detailed update and status report in conjunction with the release of its third quarter results.

Palmarejo – Project On-Schedule and On-Budget for 1Q Start-Up


Year-to-date, approximately $140 million of capital has been invested at Palmarejo, with increasing expenditures expected through the remainder of the year as construction activities continue to accelerate. 

In its 2009 partial first year of production, Palmarejo is expected to produce 5.1 million contained silver ounces and 67,000 ounces of gold.  The 2010 projected production – solely from the Palmarejo deposit – is estimated to be 7.4 million ounces of silver and 92,000 ounces of gold.

The Company reported that the crusher, SAG mill and ball mills are all scheduled for completion in December.  Tank construction is expected to be completed next month, the on-site power station is well advanced, and construction of a water supply pipeline to site is also underway.  Construction activities on the tailings dam facilities have also commenced.

Underground primary development is ahead of schedule to connect the two main portals in mid-November, with approximately 500 meters remaining to breakthrough.  Surface activities remain on schedule.  Both mining shovels are meeting original design expectations with approximately 1.5 million tonnes of material being moved per month.  Grade control drilling in the open pit has commenced.  In addition, run-of-mine pad development is underway in order to accommodate stockpiling of ore, which is expected to begin later next month. Finally, current operational and technical personnel total 240, with training ongoing and hiring underway for the remainder of the workforce.

Coeur’s exploration program is currently focused on geotechnical and infill drilling in the Palmarejo deposit as well as expanding and upgrading the mineral resources at the nearby Guadalupe deposit.

The company is currently conducting engineering and economic studies of the exploration results and the new mineral resources at Guadalupe to evaluate conversion into proven and probable reserves when the Company reports year-end results.

Cerro Bayo – Early Exploration Success on New Target; Operations Entering New Areas

The Company has announced that it has intersected a new vein structure named Delia located near the existing processing facilities.  The vein is open on strike and at depth with an estimated length of approximately one kilometer, and attractive widths and grades in the initial drilling.  In addition, the Company’s exploration efforts continue to intersect numerous, narrow, very high-grade veins in the Coigues Este area. 

As previously announced, mining operations at Cerro Bayo are transitioning away from the Marcela and Cascada veins and into the Dagny and Fabiola veins located at Coigues Este in an effort to reduce higher costs.  These two new mine areas are expected to be the mine’s primary sources of production throughout 2009 and 2010.  During this transition, particularly during the third quarter, costs will be high, but are expected to decline as tonnages from Dagny and Fabiola increase late in the fourth quarter and into 2009.

The Company will provide drill result information and a more detailed overview of operational results when it issues its third quarter results on October 31st.


Investor Contact
Karli Anderson 
Director of Investor Relations
208-665-0345

John Blue
Director, Investor Relations Australia and Asia
011-612-8249-4543

Media Inquiries
Tony Ebersole
Director of Corporate Communications
208-665-0777

Cautionary Statement

This press release contains forward-looking statements within the meaning of securities legislation in the United States, Canada, and Australia, including statements regarding anticipated operating results. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the control of Coeur. Operating, exploration and financial data, and other statements in this presentation are based on information that Coeur believes is reasonable, but involve significant uncertainties affecting the business of Coeur, including, but not limited to, future gold and silver prices, exploration, development, production and financing costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction schedules, procurement delays, currency exchange rates, the completion and/or updating of mining feasibility studies, changes that could result from future acquisitions of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries, as well as other uncertainties and risk factors set out in filings made from time to time with the SEC, the Canadian securities regulators, and the Australian Securities Exchange, including, without limitation, Coeur’s reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

GRAPHIC 3 coeurpressreleaselogo.gif GRAPHIC begin 644 coeurpressreleaselogo.gif M1TE&.#EA@@!$`/<``````(````"``("`````@(``@`"`@("`@,#`P/\```#_ M`/__````__\`_P#______P`````````````````````````````````````` M```````````````````````````````````````````````````````````` M````,P``9@``F0``S```_P`S```S,P`S9@`SF0`SS``S_P!F``!F,P!F9@!F MF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,,P#,9@#,F0#,S`#,_P#_ M``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`S#,`_S,S`#,S,S,S9C,S MF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9,S.99C.9F3.9S#.9_S/, M`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_S#/__V8``&8`,V8`9F8` MF68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F,V9F9F9FF69FS&9F_V:9 M`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,S&;,_V;_`&;_,V;_9F;_ MF6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS,YDS9IDSF9DSS)DS_YEF M`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9S)F9_YG,`)G,,YG,9IG, MF9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`,\P`9LP`F[ALS\K/\<687`Z1]MI;\S&6T6$3J=9<=O?%%I]IYYFVUV+7[555?1:=15Y^R*DG M7GH.A6?05P@*9F*'=SV8XH>ZN?B`=MY%F%U^8H&VWHIEC0C`OYVW M(I`2G9:;BVV5AEUK-@YT(7-.GO>DE!/NJ&!A:H6H6F8$IBA:E!#"UI]SQB') M78MS38F@5?M%UU947,UU6X;:Q1E:GJBU>:9$74F$3V%_]DA0-85-1`V*$FTS M)%.01BKII)0.18T??LSEQP.9/C#%I0-ENJFH,V;J%JF8IC+*C'C%>BDUL>)*4:RRTU()J&':IB.)LK06URJRL@NDZKJ><03N0N@!$.^ZPL3)1&+2IM.O6IQ4F ME.VGG0*`&*V<^H&'K&[YBFRGJWY;6+N<4>.OLL-&.R.UU.+CL)3L"F0OIJ`R M(54JU/KEK\86[:NJIZ":IBNN_7):[*DP;\ILP097A?*XFX(L[;N7@CO0K:*4 MNA>N3[%ZU<"ORGSLN94V[?334$
-----END PRIVACY-ENHANCED MESSAGE-----