Coeur d’Alene Mines Corporation (NYSE: CDE, TSX: CDM) reported today its Kensingtongold mine is resuming full production ahead of schedule.
In November of last year, the Company announced a temporary reduction in mining and milling activities to allow for the completion of several underground and surface projects. The majority of these projects are now complete or scheduled to be complete by the end of July. The underground paste backfill plant is now in commissioning, the mine’s electrical infrastructure has been upgraded, underground development continues to advance, and new surface facilities – including a new warehouse, worker dormitory, and expanded kitchen and dining facilities – are completed. In addition, Kensington has completed over 27,800 feet of definition drilling so far this year.
Kensington, located 45 miles north of Juneau, Alaska, contains 1.3 million ounces of gold in proven and probable reserves within 6.0 million tons at an average grade of 0.22 ounce per ton at year-end 2011. Kensington is expected to produce 82,600 – 86,500 ounces of gold in 2012. Over two-thirds of this year’s production is expected in the second half of the year.
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