Coeur Mining’s lead and zinc production and sales fell in March ending quarter (Q1) compared to both, the prior quarter and Q1 2019. During the first quarter, the company produced 2.5mn lbs of zinc and 2.2mnn pounds of lead. Production of zinc fell by 32pc from the prior year and by 36pc from the prior quarter. Lead production declined by 29pc in Q1 from the year prior and 45pc from the prior quarter.
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Mining and operational activities at Silvertip remain temporarily suspended since Feb 19, 2020. A significant drop in base metals prices combined with annual zinc and lead treatment charges which validated the company’s decision to suspend operations, according to the company’s latest press release.
Metal sales volume for the same period stood at 3.2mn pounds of zinc and 2.5mn pounds of lead. Zinc sales fell by 32pc in Q1 from the same period prior year and by 3pc from the prior quarter. Lead sales in Q1 slid by 7pc from the prior year and 42pc from prior quarter.
|Sales||Q1 2020||Q1 2019||Change||Q4 2019||Change|
The company posted a revenue of $173mn in Q1 from $154mn in the prior-year quarter, up by 12pc. The company’s loss narrowed to $11mn in Q1 from $19mn posted in the prior year.
Coeur Mining is a U.S.-based precious metals producer with five wholly-owned operations in Mexico, Nevada, Alaska, South Dakota, and British Columbia.