US-based precious nmetal producer Coeur d’Alene’s first-quarter production of ngold and silver hit a record high for a Q1, the company said nlast week. Silver output was 4.1 million oz, up 20.5% year on nyear but down 700,000 oz from the previous quarter. Gold nproduction in Q1 more than doubled year on year to 53,130 noz, but was down 7,510 oz from the fourth quarter of 2010. nSilver output fell from Q4 2010 due to adverse weather that nhampered processing activities at the San Bartolome mine nin Bolivia. Gold output fell quarter on quarter as a result of nslightly lower gold grades at the company’s Kensington mine nin Alaska. Coeur’s chairman, president and CEO, Dennis nWheeler, said: “With silver and gold prices expected to remain nstrong despite recent volatility, we are anticipating 2011 to nbe the company’s best year ever by a wide margin with record ncash flows driven by 20 million oz of silver production and n250,000 oz of gold production.” Wheeler added that Coeur nexpects to see consistent increases in production over 2011.
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