# CXC - Coeur d'Alene Mines Corporation



## refined silver (27 December 2007)

CXC up 10% today. This could be the start of a serious upmove after 2 years of down for Coeur and 1.5 years of sideways for Bolnisi.

CXC are Chess Depositary Interests (basically the same as shares) of Coeur (CDE on Nasdaq) which after merging with Bolnisi Gold on Dec 12th is poised to become the world's biggest primary silver miner. Within a year it should be mining 30m oz of Ag. CXC has been admitted into the ASX 200 as BSG was before the merger.


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## oldblue (29 December 2007)

Great to see a purely silver stock on the ASX ( apart from MMN )
Now to swot up on the market again!


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## refined silver (31 December 2007)

Yes and this one moves much more like a blue-chip than MMN, (although still holding MMN and will wait for it to get off its lazy behind, which it will do in its own good time and not before )


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## roland (20 February 2008)

Hi there, FAT Prophets have just sent out an email alert to their subscribers (I'm not one).

They have recomended CXC as a buy at anything below $5.20.

Now, I am going to have to take a look at what CXC is all about


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## oldblue (20 February 2008)

roland said:


> Hi there, FAT Prophets have just sent out an email alert to their subscribers (I'm not one).
> 
> They have recomended CXC as a buy at anything below $5.20.
> 
> Now, I am going to have to take a look at what CXC is all about





That's good news!

Bought a few last week on the strength of a record intraday silver price, having followed the silver market for a few months.
CXC look the best silver prospect on the ASX  imo.


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## roland (20 February 2008)

The FAT alert:

Today's FAT alert:

As we stated in our report last night on Couer D'Alene (CXC), we were awaiting
a technical signal before placing another buy recommendation on the stock.
The US listing, CDE, had broken below a rising trendline and we were reluctant
to buy while the stock traded below this trendline.

Following a strong night for commodities and precious metals in the US last night,
Couer rallied by 8%, resulting in the stock pushing back above the 
rising trendline. We view this as a bullish development and combined with our
positive fundamental outlook as discussed in last night's report, we recommend
CXC as a buy to all Members

CXC will no doubt be up strongly today. Based on last night's move in the
US, the stock should trade around $5.20. We would be comfortable recommending
a buy at around these levels

Members should note that as the company's two major mines are in the ramp
phase, there is still a considerable amount of development and commissioning
risk so this stock will continue to display a high level of volatility


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## roland (20 February 2008)

Looking at the charts, it looks like CXC will probably run a little harder than it did today. Looks like it suffered a little today from the general downward trend we had after 2PM


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## roland (20 February 2008)

Hey, there was also a MACD crossover that is sure to affect the CXC SP. I don;t hold any yet, but starting to feeli like I should.


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## michael_selway (20 February 2008)

roland said:


> The FAT alert:
> 
> Today's FAT alert:
> 
> ...




Hm i wonder what's so special about this company, has it started producing?

Also no forward numbers as yet?

thx

MS


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## roland (20 February 2008)

michael_selway said:


> Hm i wonder what's so special about this company, has it started producing?
> 
> Also no forward numbers as yet?
> 
> ...




michael, seems like you need to do a little research, I've posted charts, I've given the FAT's email content. I've researched this myself and cannot give you any more than than what's here. Sorry but the rest is really up to you.


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## refined silver (20 February 2008)

michael_selway said:


> Hm i wonder what's so special about this company, has it started producing?
> 
> Also no forward numbers as yet?
> 
> ...




Yes its producing around 10m oz/yr. Another 10m oz/yr mine in Bolivia has just started producing and should be up to speed soon. Then have BSGs 11m oz per year in Mexico which should be producing by the end of the year. This last mine, had a cost of either 50c/oz Ag or -50c/oz Ag after Au credits. 

(All figures are Ag)


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## eddyeagle (21 February 2008)

Here is an article from Hot Stocks in The Age on January 23:


Coeur d'Alene (CXC) 
Greg Canavan. Greg Canavan is the head of Australasian funds research for Fat Prophets. 
January 23 2008 

What's new?

Given the market's early year battering, the only "hot stocks" around are those that have suffered selling friction. This raises the question of whether 2008 will be the year of the bear market. While there is a strong likelihood that the financial sector is entering a prolonged period of underperformance, there is a silver lining to this impending bear market.

US silver producer Coeur d'Alene listed on the Australian Stock Exchange last month following the takeover of Bolnisi Gold, which has an attractive suite of silver assets in Mexico.

Like gold, silver has a solid future. Although silver has performed strongly over the past few years, its price has lagged behind the performance of base metals such as copper, zinc and lead as well as gold.

Today, the gold-to-silver ratio (that is, the number of ounces of silver needed to buy an ounce of gold) is about 55. This reflects silver's "de-monetisation" and its perceived utility as an industrial metal only. When gold and silver were both considered currency (only gold is today), this ratio averaged about 15. This ratio should improve in silver's favour over the next couple of years as investors brush up on their monetary history.

The outlook


Coeur's outlook rests on the successful execution of a number of development projects this year.

The crown jewel in the Bolnisi acquisition was the Palmarejo silver and gold project, one of the highest-quality primary silver projects in the world. Operations are due to begin in early 2009 when the mine will add 10.4 million ounces of silver and 115,000 ounces of gold to Coeur's production.

As soon as next month, it plans to begin operations at the San Bartolome silver mine in Bolivia. These two new projects along with existing operations mean that by 2009, if all goes to plan, Coeur will be the world's largest silver producer. At nearly 30 million ounces a year, this will almost triple current output. Coeur's other producing mines are in Australia, Argentina and Chile.

Stable production and two large projects, due to begin contributing within 12 months, mean the operational front looks good for Coeur.

Putting it in the context of rising silver (and gold) prices, neither of which the company has hedged, the earnings potential for Coeur is very encouraging.

Price

Given the Australian listing's very short price history, we've used the US listing to show past performance. After trading below $US3.50 during the mid-year correction, investors have focused on the emerging projects and the stock has made strong gains in a choppy market. Rising silver prices have obviously helped. The stock currently trades at about $US4.70, or about $5.20 locally.

Worth buying?

If you can put up with the volatility, Coeur should prove to be a good long-term bet. With the US and quite possibly the global economy sinking, authorities will go all out to add stimulus, both monetary and fiscal. This will be bullish for precious metals, including silver. That, in turn, will be bullish for Coeur d'Alene.


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## roland (22 February 2008)

OK, got on board with CXC today. In at 5.02 - nearly today's low - so not too unhappy with that. Let's get that silver pumping!


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## oldblue (22 February 2008)

What Hot Stocks didn't mention is that, amongst other things, CXC has bought forward the Ag by-product  production of several Australian zinc/lead miners at what is proving to be a very bargain price!


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## roland (22 February 2008)

Here is a notable comment from a holder on the Yahoo Finance Boards

Take it with a grain of salt - of course




> CDE extremely undervalued     21-Feb-08 02:24 pm     Jan-Feb 2004
> CDE price over $7.00 a share, as high as $7.69 - approaching $8/shr
> silver : about $6.50 an ounce
> 
> ...


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## Sean K (22 February 2008)

roland said:


> Here is a notable comment from a holder on the Yahoo Finance Boards
> 
> Take it with a grain of salt - of course



Was there any other analysis attached to that post? If not, it's just ramping. As you say, a 'grain of salt'...


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## roland (23 February 2008)

Here is an interesting article regarding the renewed interest in Silver for things such as ID cards, medical dressings etc. 

The loss of demand in Silver due to the waning of the chemicals for wet photography has kept Silver in surplus etc...

The full article is from Mineweb, http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=47936&sn=Detail


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## roland (25 February 2008)

Well I am out, took my 5% since late last week. After a lot more reading I think silver may stay in surplus a little longer than I originally thought.

With so little ASX data to analyse I will be treating CXC as very short term. It does swing 5% or so quite regularly, but seems to be locked into a narrow range.


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## oldblue (27 February 2008)

I'm still holding and looking to buy a few more.

Ag hit a 27 year high of $18-85 in late trading yesterday in New York.


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## refined silver (28 February 2008)

oldblue said:


> What Hot Stocks didn't mention is that, amongst other things, CXC has bought forward the Ag by-product  production of several Australian zinc/lead miners at what is proving to be a very bargain price!





Where did you hear that? Do you know how much they have bought? That's very good news 

Silver Wheaton did the same in US and Canada and has turned out to be very profitable. Since 70% of Ag is produced as a byproduct, often these compnaies are just happy to sell it as its not their main game.


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## refined silver (28 February 2008)

Both ASX pure silver miners (CXC and MMN) today again, sold down after the 4pm close for the lowest prices of the day.

MMN sold down virtually 10% some just before the close and more after, CXC also sold down after the close for lowest price of day. 

There is a lot of chart painting going on, with hedge funds that are short, trying to paint charts of junior PM companies down to encourage the nervous to sell so that they can cover. Many are currently running a long PM majors and short PM juniors hedge, that will bite them soon.

CXC has about an 8% short position on the NYSE, which is many many times larger than most of the bigger HUI companies. Other juniors likewise have heavy short positions. 

I'm looking forward to the unwinding.

http://www.financialsense.com/metals/shorts.html


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## oldblue (28 February 2008)

refined silver said:


> Where did you hear that? Do you know how much they have bought? That's very good news
> 
> Silver Wheaton did the same in US and Canada and has turned out to be very profitable. Since 70% of Ag is produced as a byproduct, often these compnaies are just happy to sell it as its not their main game.





Sorry to be a bit light on details, rs, but refer to company website

www.coeur.com

Mention is made of aquiring silver reserves and production of Perilya Broken Hill Ltd and of the Endeavour mine. From memory, this is not recent news and I have a recollection of reading that the price was favourable to CXC. ( And, of course, price trend is also favourable.)
As you say, these companies are often pleased to off-load their by-product to avoid the added marketing involved.

I must say, the only thing that worries me about silver per se, is that such a big proportion of production is as a by-product. This must expose the metal to potential over-supply at times of strong zinc, lead etc production. Not an issue at present, however.


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## oldblue (1 March 2008)

Silver hit another 27 year high overnight in New York at USD19-95!

I bought a few more CXC yesterday.


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## refined silver (2 March 2008)

oldblue said:


> Sorry to be a bit light on details, rs, but refer to company website
> 
> www.coeur.com
> 
> ...




Thanks for the info.

There are no worries about a supply glut. Silver has been in deficit for 60 years. Billion ounce govt stockpiles are now gone. 
- There is less above ground silver now than gold
- Silver has increased in price much less than the Zn, Pb, etc it is often found with, 
- This is due to the largest COT short position relative to years mining supply of any commodity on the exchange - bigger by multiples than anything else.
- New industrial uses are being found for Ag all the time.
- The Zn and Pb supply is not increasing anywhere near as fast as people think.
- Silver is also a precious metal and so will greatly increase like gold with investment demand in these times.


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## oldblue (4 March 2008)

Silver closed at $20-37 overnight.

CXC SP up another 5% today.

Wish I could afford to buy more.


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## refined silver (5 April 2008)

CXC already had one of the biggest short positions against it of any of the gold/silver miners on the HUI index.

In the last two weeks of March, it was in the top 5 NYSE shares for increased positions! Yet, it went down around 10% on a 20% drop in silver. 

http://www.reuters.com/article/marketsNews/idINN0433195820080404?rpc=44

If silver refuses to go down anymore, and starts grinding upwards, when these guys have to cover, CXC could really get a move on.


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## eddyeagle (19 June 2008)

Announcement today - has to be good for the SP:

POTOSI, Bolivia – June 18, 2008 - Coeur d’Alene Mines Corporation (NYSE:CDE,
TSX:CDM, ASX:CXC) announced today that its new San BartolomÃ© mine, the world’s largest
pure silver mine, has poured its first silver dorÃ©. Additionally, representatives of the Company,
local and national mining cooperatives and Bolivian government officials recently marked the
inauguration of the new facilities at the San BartolomÃ© silver mine, located in South America’s
historically richest silver mining area.
San BartolomÃ© is expected to produce six million ounces of silver this year and nine million
ounces in 2009, its first full year of production. The complete crushing, milling, leaching,
thickening, Merrill-Crowe and smelting facilities are now all commissioned and fully
operational. San BartolomÃ© contains an estimated 153 million ounces of probable silver
mineral reserves and an additional 34 million ounces of measured and indicated silver mineral
resources, with an expected 14 year mine life.
The new plant and tailings facilities were constructed by 2,200 Bolivian workers and employs
250 local workers from Potosi and generates an additional 1,000 mining related jobs in the
nearby community. Construction work at San BartolomÃ©, which surpassed five million man
hours without a lost time accident, was recently recognized with a top safety award from the
International Society of Mine Safety Professionals.
“The San BartolomÃ© mine, a cornerstone of Coeur’s growth, is the culmination of the efforts of
a great many people, and we at Coeur are especially proud to be associated with the mining
cooperatives of Potosi on this project,” Dennis E. Wheeler, Chairman, President and Chief
Executive Officer of Coeur said at the inaugural event in Potosi. “Mining has been taking
place here for nearly 450 years, and San BartolomÃ© represents an entirely new way of mining
at Potosi. The San BartolomÃ© construction effort is of the highest quality, bringing economic
development to Potosi, protecting the environment, and building a state-of-the-art processing
plant under the safest levels of worker safety.”
Mr. Wheeler added, “Production from the San BartolomÃ© silver mine will drive a 40% increase
in our silver production this year to sixteen million ounces and lead to a doubling of our 2008
operating cash flow based on curret silver and gold prices.”


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## berocca (9 July 2008)

cxc has had an almost perfect downtrend. Fundamentals have not added value yet and the hedge funds consistently short it.

where is the future headed?


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## Trembling Hand (10 July 2008)

berocca said:


> hedge funds consistently short it.




Hedge funds consistently shorting it!!!! Right.

What evidence have you for this statement. Its just a lazy throw away excuse for a stock that is tanking. Naked shorts are at 0.5%


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## lucifuge (10 July 2008)

I almost bought CXC maybe six months back, but didn't because I found something which I don't understand. Coeur trades in the US as CDE and CDM in Torono. If you look at the 4 year chart of CDE,  its long term growth is flat-line, while CDM actually downtrends. If silver has been trending upwards over this time period, then why the chart behaviors as described? What I'm saying is they don't instill much confidence. If someone can explain the relationships, it would help a lot.


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## bvbfan (11 July 2008)

Trembling Hand said:


> Hedge funds consistently shorting it!!!! Right.
> 
> What evidence have you for this statement. Its just a lazy throw away excuse for a stock that is tanking. Naked shorts are at 0.5%




0.5% of ASX shares?

The major listings are NYSE and TSX.
This was one of the most shorted stocks on NYSE but it's been covered in the recent weakness in gold/silver.

http://www.shortsqueeze.com/?symbol=CDE

Thought it was higher in earlier months but don't actively follow short positions in US


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## Trembling Hand (12 July 2008)

bvbfan said:


> The major listings are NYSE and TSX.
> This was one of the most shorted stocks on NYSE but it's been covered in the recent weakness in gold/silver.
> 
> http://www.shortsqueeze.com/?symbol=CDE
> ...




Its sitting at 12% of float that is a long way from the most shorted stocks on NYSE. 

But my point is actually what you have stated. That hedge funds wouldn't be shorting here. They would be covering. Its the "invested" realizing that this is a dud and dumping, more likely.


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## oremo (14 April 2009)

CXC has lots of silver, and a smattering of gold. 

I'm hearing from more quite a few sources that it's silver time. 

Is it time to buy CXC? Anyone been following this of late?


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## oldblue (15 April 2009)

oremo said:


> CXC has lots of silver, and a smattering of gold.
> 
> I'm hearing from more quite a few sources that it's silver time.
> 
> Is it time to buy CXC? Anyone been following this of late?




I don't know about time to buy CXC but I hold a few and find it to be a frustrating exercise. 
 There is a view, widely held by silver "experts" that the Price of Silver is heavily manipulated, that there are much larger quantities of silver certificates sold than can be backed by physical silver, and that one day the PoS will take off.
I really don't know what the truth of all this is, but I live in hope and hold my CXC for the ride!


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## oldblue (15 April 2009)

One of the factors working in CXC's favour and for the PoS is that a large proportion  is produced as a by-product of the mining of other metals such as zinc and lead. A lot of zinc mines have been closed or are on reduced output at present, leading to a presumed lower supply of silver.

CXC, as a largely primary silver producer, should be benefitting from this.


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## oldblue (27 April 2009)

A big jump in CXC shareprice today - up 18% following a 23% increase in the States last week.
Some speculation elsewhere that it is probably short covering, but whatever, it's good news for holders!


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## speculator101 (27 April 2009)

Hey oldblue.
Yes very good jump today. 
Its actually been quite pleasing to see it rise over the past 4 weeks.

After it sold some of its future production for $100,000,000.00 a while back, and its current market cap is on 86mil!!! ha 
Yes of course its a bear market, and GFC and all. Buts its cheap!!!
I bought in ages ago... $3.80 before it merged last year. sigh.
so long ago.
Going buy the charts, I would love to see it hit 2.50, but, well who knows where the market is going...
I have averaged down as much as I could, so I have belted in and ready for the ride.

IMHO.
and def do your own research!!!! lots of it!!!!


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## oldblue (1 June 2009)

CXC starts trading on the basis of the 10 for 1 consolidation on 11 June, not that that should make any difference to the value of the company!
What shouldn't have escaped notice, however, is that the price of spot silver has just made its biggest monthly gain since 1987!


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## naughtynickers (11 June 2009)

Yeah I noticed went back to stock code CXC from CXCDA not sure why they bothered with the change, bit of a bummer in Etrade all historical data is gone. 

I've been watching these have a steady decline this week on little news. it came up from a low of 66 cents to over $2 before it went 10 for 1 recently so i wonder what the fair price is now seeing there are around $17.

Does anyone hold some of these and what are there thoughts on the long term price... I am thinking it all depends on silver and gold doing well. 
I have been watching them for quite some time and am interesting what other people's thoughts are.


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## oldblue (11 June 2009)

The consolidation was necessary because of the US rule that doesn't allow a share to trade below $1 for more than a given period. I forget the details but CDE - I think that's the US code - breached this mark a couple of months or so ago.

The company is in expansion mode and has good prospects IMO. The silver market is, however, thought by some commentators to be heavily manipulated with the result that the PoS is unduly depressed. It's said that "paper silver" on issue far exceeds the amount of the physical stuff backing it. I wouldn't really know.

CXC has also been subject to some pretty violent swings in price from time to time. I suspect that there is an active arbitrage between the US price and the CXC price by someone or another at times although the CDE price itself also moves abruptly.
I hold a few, at prices well above current levels but it's not really a share, or a commodity, that I feel really comfortable with.


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## naughtynickers (20 June 2009)

Thanks oldblue for your thoughts I have been watching these get hammered all week. Every day was down like 7% on no news.

Don't seem to have any resistance!!!

Free fall in a space of a week of trading from 20.50 all the way to 13.50 which was around it's close yesterday surely it has to find support somewhere!!!


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## oldblue (24 June 2009)

Better news for Coeur with the US Supreme Court confirming approval for their Kensington gold mine in Alaska.
Coeur say that this has potential to increase the company's annual gold production by 135%!

CXC shareprice doing well today in a soggy market.


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## adds (3 July 2009)

Announcement out today:

"COEUR STRENGTHENS BALANCE SHEET THROUGH SUCCESSFUL DEBT REDUCTION PROGRAM"

"COEUR D'ALENE, Idaho - July 2, 2009 - Coeur d'Alene Mines Corporation provided an update today on its debt reduction program. During the first half of 2009, the Company reduced its convertible debt by over $150 million, or approximately 37%."

"The company will provide a full financial update when it reports its 2nd Quarter 2009 operating results on August 6th,2009."


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## oldblue (3 July 2009)

adds said:


> Announcement out today:
> 
> "COEUR STRENGTHENS BALANCE SHEET THROUGH SUCCESSFUL DEBT REDUCTION PROGRAM"
> 
> ...




A pretty impressive performance although you'd never know it if you looked at the SP.

The increased production from the new and expanded mines, together with a firm PoS, is starting to show up, in the B/S at least.


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## oldblue (4 February 2010)

CDE (CXC in Aust) have announced discovery of a new high grade vein in their Kensington gold mine which is expected to start production later this year.

http://www.theflyonthewall.com/permalinks/entry.php/CDEid1193913

Meanwhile, the PoS is holding up well.

Anyone else interested in CXC?


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## speculator101 (23 September 2010)

*CXC - Delisting from OZ*

Hi all investors.
I believe I am out of my depth with the current situation that CXC has put itself in. 

It will be delisting from the ASX in December due to it only have 4.9% of its shares in OZ.

The options I have is sell them on market, let CXC sell them, or get common shares... which are tradeable on the NYSX.

I have held this stock for 4 years. It's my only silver stock. I invested in CXC in the hope it would both capture the silver price growth ( which I had been advised would occur), and inevitable QE that will soon occur in the U.S.
It is 15% of my entire portfolio.

I am after idea's, on what others think of my options.
I have already made a profit so not complaining.

I wonder if the share price will go up, or down with this recent news? So far it has been rising... but I am guessing that is because of the silver price.
Could it also possibly be because investors would want common stock?

Well. Just wanted to get as many idea's as possible on what I could do.
Cheers for any feedback.


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## oldblue (24 September 2010)

Yes, it's a difficult one!

I'm a holder and my first reaction would be to take advantage of the current strong PoS and get rid of them between now and end of ASX trading, or at least before the end of the Share Sale Facility in February.  Mainly because I don't want to be left with a relatively small US holding that I would need to ultimately sell on the NYSE, with attendant cost and "inconvenience".

At the same time I'm reluctant to sell while the PoS remains firm and while demand for the CDI's continues. So, in short, it's a case of watching and awaiting developments at this stage.

I'd also appreciate other views on this issue.


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## chatty (18 November 2010)

For some reason, this stock has been out of my redar and i just found it now. I also want to know how it works if I get in today and how do i sell it in NYSX and what the transaction cost will be


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## oldblue (19 November 2010)

There's been some fairly detailed ASX announcements from CXC in the last couple of months on the timing etc for the delisting. Suggest you read up on these.

As for costs of trading on the NYSE this will come down to your relationship with your broker but I wouldn't expect it to be too much of a bargain. If it's a possibility that you may need to use the facility I'd be inclined to check first before getting involved with CXC. Meanwhile, trading in CXC should be " as usual" until they are de-listed.


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