Cda Mines Reports Fourth-Quarter Loss

Coeur d’Alene Mines Corp. Wednesday reported a fourth-quarter 1997 net loss of $5.8 million, or $0.27 per share, compared with net income of $300,000, or $0.01 per share, in the same year-ago period.

After quarterly dividends are paid to preferred shareholders, the quarterly loss to common shareholders is $8.5 million, or $0.39 per share, compared with $2.3 million, or $0.11 per share a year ago.

Net losses were $14.1 million ($0.64 per share; $1.12 to common shareholders) for all of 1997, compared with a 1996 net loss of $54.6 million ($2.54 per share and $2.93 per common share). Results in 1996 included a $53 million write-down for the Golden Cross Mine in New Zealand.

Company officials said silver production in 1997 increased 16 percent to a record 11 million ounces, compared with 9.5 million ounces in 1996.

Gold production in 1997 totaled a record 290,962 ounces, a 36 percent increase over the 214,130 ounces in 1996.

, DataTimes