Plug for one of my favorite Mining Companies: CDE

As anyone who owns miners knows…it has been brutal.

One of my long time favorites, has been CDE. I bought CDE myself after studying the San Bartolome asset.

I am excited about the reported progress:

Coeur’s San Bartolome Silver Mine Performing at Design Capacity, Leading to Increased Production and Reduced Costs

4:05p ET December 10, 2008 (Business Wire)

Coeur d’Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) is pleased to report operations at its new San Bartolome silver mine in Bolivia are performing according to plan, resulting in continued increases in monthly silver production and reductions in monthly operating costs.

In November, the mine produced a record 818,000 ounces of silver, representing a 34% increase over October production of 611,000 ounces and 112% higher than September’s operating results. The Company expects December production from San Bartolome to reach nearly one million ounces, bringing the 2008 production total up to approximately 3.2 million ounces, as previously forecast. Cash costs in November declined 37% from October levels to $6.90 per ounce and are expected to decline below $6.00 per ounce in December.

Plant processing facilities are performing up to expectations, metallurgical recovery rates are in-line with forecast, and the mine is shipping a near pure form of dore to refiners. In addition to the mine’s performance, safety and training remain top priorities at San Bartolome. As of September, over six million man days had been worked without a lost time accident. Training programs are ongoing to improve worker productivity.

Dennis E. Wheeler, Coeur’s Chairman and Chief Executive Officer, commented, “The revised operating plan for San Bartolome as outlined in early August is now being consistently achieved. K. Leon Hardy, Senior Vice President and Interim General Manager, and Donald P. Gray, Senior Vice President of South American Operations as well as the entire San Bartolome team have done an excellent job of getting the mine on-track during the third and fourth quarters. We look forward to 2009 with confidence and enthusiasm for the mine’s first full year of operation.”

The mine, located in Potosi, is the largest pure silver mine in the world, with reserves totaling 153 million ounces and an estimated 14-year mine life, with 2009 production expected of approximately 9 million ounces.