Spokane7
65°
February 28, 2011
Mining firm’s stock jumps 14% on earnings report
Coeur d’Alene Mines Corp. is having a strong day on the stock market, with share prices up 14 percent after the precious metals miner reported higher-than-expected earnings.
Company shares were trading at $31.63 this afternoon, a gain of nearly $4.
For 2010, Coeur d’Alene Mines reported adjusted earnings of $34.3 million, or 39 cents per share.
In contrast, Coeur d’Alene Mines reported an adjusted loss of $23.5 million for 2009.
The 2010 adjusted earnings do not reflect a $117.5 million non-cash accounting charge, which led to a $91.3 million net loss equaling $1.05 per share.
Strong prices for both gold and silver and the opening of new mines in Mexico, Bolivia and Alaska helped boost Coeur d’Alene Mine’s balance sheet, said Dennis Wheeler, chairman and CEO.
The company reported $515.5 million from metals sales last year.
Miners to return to Lucky Friday 
hawken on February 28 at 4:44 p.m.
Price of Gold Target: $3,000/oz in next 5-8 yrs
Price of Silver Target: $187/oz in next 5-8 yrs
Gold/Silver is in a “strong” bull market that has just begun.
Those who are wise and have the ability, will get in this game now. I got in back in 2008 when silver was selling at $9/oz. It’s pressing $34/oz TODAY, and going much higher in the years ahead.
My silver has appreciated 380% to date, since 2008, when I first knew Obama would be elected.
Silver will see more spikes and corrections along the way. But it will reach at or above the target prices above. Just look at the fundamentals, the world economy, and the chaos in the Middle East.
Silver bullion is the better investment due to the Gold/Silver ratio. When I bought, the ratio was 75/1…. today it is 42/1…. it will reach 16/1 at its peak. Do the simple math.
Final recommendation: Don’t by silver or gold in paper form,,,, ETFs,,,, buy the real thing and hold it in your hand, at home, or in a safety deposit box.
“A Word To The Wise Is Sufficient.”