Coeur d'Alene Mines is a precious metals producer which is dedi- cated to growth through it's exploration and acquisitions efforts. We foster and support these activities by providing our staff with long-term financial support, the encouragement to proceed with their projects and ideas, and a firm belief that we will be successful. Coeur's corporate headquarters are located in beautiful, historic Coeur d'Alene, Idaho. Our main mining operations are Rochester, locate near Lovelock, Nevada, Coeur Mine,located near Wallace, Idaho, and Thunder Mountain, located in central Idaho. Our Ken- sington Gold project is located about 45 miles north of Juneau in southeast Alaska. We have exploration offices located in Reno, Nevada, and Santiago, Chile. At this time, Coeurd'Alene Mines produces precious metals from mines located in the United States. Our Rochester open-pit opera- tion, which is 100 per cent owned and operated, is located in Nevada. Presently, this operation produces 5.5 to 6 million ounces of silver per year and 60-70,000 ounces of gold. We move 65,000 to 70,000 tons of rock per day of which about 23,000 tons is ore._x000D_
The ore is crushed, stacked on permanent heaps and leached. The recovery is by Merrill-Crowe. Although the average grade is rela- tively low, 1.4 ounces per ton silver and 0.012 ounces per ton Au, the operation is very low cost. Our cost of production is less than $4.00 per silver equivalent ounce. Rochester is anunusual operation in that the crushed rock stacks without much compaction and the ores are easily leached. The final height on our heaps will be about 220', and overall recovery will be about 55 per cent of the silver and about 85 per cent of the gold. Reserves at Rochester are expanding and are now adequate for at least fifteen years of opera- Tion.