Coeur Mining reports Q2 adjusted EPS 1c, consensus (1c)
Reports Q2 revenue $170M, consensus $173.15M. The company said, "Led by our Palmarejo operation, we delivered strong financial and operating performance in the second quarter, which has resulted in an increase to our companywide full-year production guidance ranges and a reduction to our companywide full-year cost guidance ranges. As we enter the second half of 2018, we are well-positioned to continue delivering on our strategy of successfully discovering, developing and operating high-quality precious metals mines in safe jurisdictions. We anticipate Silvertip will achieve commercial production levels in the third quarter and begin to contribute high-margin production and cash flow. Our higher level of investment in near-mine exploration continues to generate excellent results with important new discoveries at Palmarejo and Kensington and successful resource identification and expansion at Silvertip and Rochester. Later this year, we expect to begin upgrading our crushing facility at Rochester to accommodate a high-pressure grinding roll unit in the first quarter of 2019, which is expected to unlock significant long-term value for our stockholders by significantly enhancing silver recoveries and by substantially reducing operating costs. Production and cash flow from our Wharf gold operation in South Dakota climbed sharply during the quarter and are expected to further strengthen throughout the remainder of the year, further reinforcing the merits of that acquisition. Finally, we expect mining from Kensington's high-grade Jualin deposit to positively impact second half production and cost levels."