News
Coeur Notified by NYSE of Continued Listing Standards
Thursday November 13, 5:24 pm ET
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Coeur d’Alene Mines Corporation (NYSE:CDE - News)(TSX:CDM - News)(ASX:CXC - News) today announced that it has received notice from the New York Stock Exchange (“NYSE”) that the Company has fallen below the NYSE’s continued listing standard relating to minimum share price. This standard requires that a company’s common stock trade at a minimum average closing share price of $1.00 during any consecutive 30-day trading period. The Company has notified the NYSE that it intends to comply with the price condition.
“We continue to believe that Coeur is well positioned to capitalize on the significant growth projects that are now in the process of coming on-line,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer. “With production at our San Bartolomé silver mine in Bolivia now reaching full capacity and our Palmarejo silver-gold project in Mexico on-budget and on-schedule for a March 2009 start up, we expect to produce significantly more silver and gold over the coming months at lower cost than we have in the past. The expected additional revenue combined with other corporate initiatives aimed at streamlining costs will put the Company on a strong footing and help it satisfy the NYSE price condition.”
About Coeur
Coeur d’Alene Mines Corporation is one of the world’s leading silver companies and also a significant gold producer. Coeur, which has no silver or gold production hedged, is now producing silver at what is considered to be the world’s largest pure silver mine - San Bartolomé in Bolivia – and is currently constructing another world-leading silver mine – Palmarejo in Mexico. The Company also operates underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia. The Company also owns a major gold project - Kensington in Alaska - and conducts exploration activities in Argentina, Bolivia, Chile, Mexico and Tanzania. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.
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, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction schedules, currency exchange rates, and 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.
Contact:
Coeur d’Alene Mines Corporation
Investor Contact
Karli Anderson
Director of Investor Relations
208-665-0345
or
Media Contact
Tony Ebersole
Director of Corporate Communications
208-665-0777
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