Coeur d’Alene Mines Corp. reported a narrower second-quarter loss Wednesday, as rising production helped offset weak metals prices.
The silver and gold mining company reported a loss of $2.9 million, or 13 cents per share, during the second quarter of 1997. That compares with a loss of $59.5 million, or $2.75 a share, during the same period a year ago.
The 1996 second-quarter loss included a $53 million write-off of Coeur’s investment at its Golden Cross mine in New Zealand because of structural problems with the tailings dam.
The company also announced it has received the first of the permits needed for the operation of its Kensington gold project in Alaska. The U.S. Forest Service granted Coeur the Final Supplemental Environmental Impact Statement. The company is now awaiting completion of other permits and optimization studies.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.