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Coeur D'Alene Mines Signs Contract With China National Gold Group - Quick Facts

Tuesday, Coeur d'Alene Mines Corp. (CDE, CDM.TO) said its subsidiary Coeur Alaska Inc. signed a contract with China National Gold Group Corp. for the purchase and processing of gold concentrates produced at Coeur's new Kensington gold mine. This agreement is the first of its kind between a state-owned corporation of the People's Republic of China and a U.S. precious metals mine.

The Kensington mine, which is scheduled to begin production shortly, is expected to produce 50,000 ounces of gold this year and average approximately 125,000 ounces of annual gold production over an initial 12.5 year life based on current reserves of 1.5 million ounces. The contract with China National Gold relates to approximately half of the concentrates to be produced at Kensington.

Coeur d' Alene Mines Corp., together with its subsidiaries, engages in the operation, ownership, exploration, development, and mining of silver and gold properties in South America, Mexico, the United States, and Australia. It also explores for lead and zinc ores.

CDE closed Tuesday's trading at $15.97, down $0.28 or 1.72%, on a volume of 1.59 million shares on the NYSE. In the after hours, the stock is up $0.25 or 1.58%, trading at $16.22.

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