The Gold Economy

Coeur d’Alene Mines Corporation (CDE) Q4 2010 Earnings Conference Call February 28, 2011 1:00 pm ET

Operator

Good afternoon my name is Bee and I’ll be your conference operator today. At this time I would like to welcome everyone to the Coeur d’Alene Mines Fourth Quarter and full year 2011 Earnings Call. (Operator instructions) Thank you, Mr. Tony Ebersole, please go-ahead sir.

Tony Ebersole

Thank for joining us today to discuss the company’s fourth quarter and full year 2010 results. This call is also being broadcast live on the internet through our website at www.coeur.com, where we have

With the indications of a new Bull run for precious metals starting, it is time to examine the Gold miners to see which ones may offer the best opportunities. This author has not been a fan of the large Gold companies recently and has been particularly critical of Goldcorp (GG) after last year’s purchase of Andean Resources. However, it seems that there may be a recent market anomaly involving the glamour boy – Goldcorp – that readers may be interested in. The situation may offer a way to profit from Goldcorp in the current

As a follow-up to our recent missive on gold, we want to take a look at the drivers influencing precious metals prices we have identified as relevant.

There are three types of precious metals – gold, silver and platinum group metals (PGM’s). There are six different PGM’s, namely Platinum, Palladium, Rhodium, Iridium, Osmium and Ruthenium. The first three of these are used extensively in automotive catalysts, but only platinum and palladium sport exchange-listed futures contracts, as the rhodium market is extremely small (annual production is slightly less than 700,000 oz.). Iridium, Osmium and Ruthenium production is even smaller

Pan American Silver’s (PAAS) goal is to be the largest low-cost primary silver mining company in the world. Historically, silver is mined as a byproduct of other metals but Pan American has been founded on developing primary silver deposits in North and South America.

During the fourth quarter of 2010 silver production reached 5.7 million ounces and totaled 24.3 million ounces for the year.

Net income increased to $112 million or $1.05 per share in 2010, from $62 million or $0.71 per share in 2009, while sales increased by 39%