Monday, February 06, 2023
37.0°F

Movers and Shakers April 9, 2010

| April 9, 2010 9:00 PM

Post Falls Hollywood Video closing

The Hollywood Video store at 1675 E. Seltice Way in Post Falls is following suit of about 800 other Hollywood Videos across the country by closing.

The store is offering discounts on games and videos and will increase those until the business closes its doors sometime in May.

Movie Gallery Inc., which operates stores under the Movie Gallery, Hollywood Video and Game Crazy brands, recently announced it filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Eastern District of Virginia.

Movie Gallery, based in Wilsonville, Ore., said the filing is due to the "economic and competitive realities facing its business."

The Hollywood Video at 560 W. Kathleen Ave., along U.S. 95 next to the Fred Meyer store, has already closed.

The Movie Gallery outlet at 6613 W. Commercial Park Ave. in Rathdrum will remain open.

Coeur production rises

Coeur d'Alene Mines Corp. this week reported continuing operating improvements during the first quarter at its San Bartolome and Palmarejo operations. In addition, the company announced plans to commence mining operations in July at its Kensington gold mine in Alaska. Additional operational and financial details will be provided in the company's first quarter earnings release and conference call in early May.

Palmarejo (Mexico)

n Record monthly production in March of 546,738 silver ounces and 9,225 gold ounces.

n First quarter silver production was up 25 percent from the previous quarter to 1.5 million ounces while first quarter gold production increased 23 percent to 25,511 ounces.

n First quarter cash operating costs dropped 57 percent compared to the fourth quarter to $2.62 per silver ounce.

n Silver recoveries improved to 73.3 percent in March and exceeded 80 percent late in the month, up from 66.3 percent for all of 2009.

n 2010 expected production remains on track to reach 7.9 million ounces of silver and 109,000 ounces of gold at cash operating costs of under $2.50 per silver ounce.

San Bartolome (Bolivia)

n Coeur announced on March 11 that it had begun mining in the higher-grade Huacajchi deposit above the 4,400 meter level. This resulted in significantly improved production and cost performance in March, which is expected to continue during the remainder of 2010.

n March production was up 46 percent over February to 451,746 silver ounces, which is the highest monthly production since October 2009.

n March cash operating costs declined 16 percent compared to the previous month to $8.26 per silver ounce. First quarter cash operating costs were $9.05 per ounce, which were 13 percent lower than the fourth quarter of 2009.

n 2010 expected production of 7 million ounces of silver at cash operating costs of $8.50 per ounce.

Kensington (Alaska)

n Initial production is expected to commence in July with partial first year production of approximately 50,000 gold ounces.

n Mild winter weather has allowed construction activities to remain on-schedule and on-budget.

n 85 percent of the tailings line from the mill to the tailings facility is now installed.

n Blasting activities will take place along the Kensington vein this month.

n 120 bed man camp complete and fully occupied.

"Coeur is off to a strong start the first quarter of 2010 in executing its key objectives of optimizing silver recoveries at Palmarejo, obtaining access to important mining areas at San Bartolome, and starting production at Kensington in July of this year," said Dennis E. Wheeler, Coeur's chairman, president and chief executive officer. "We believe that, along with a continued positive silver and gold price environment, Coeur is expected to achieve a record year in terms of revenues and cash flows for its shareholders."

Dresser designated ABR

Cindy Dresser, a Realtor at Century 21 Beutler & Associates in Coeur d'Alene, recently earned the ABR designation. As an Accredited Buyer's Representative, she focuses on working directly with buyer clients.

The program includes additional instruction, along with ongoing specialized information, programs and updates to help ABR designees keep abreast of issues and trends that are useful in representing home buyers.

If you have a new, relocated or expanded business, or announcement of events, promotions or awards, The Press wants to let our readers know. The service is free and items run Tuesday through Saturday. To get the word on the street on your movers and shakers, call city editor Bill Buley at 664-8176 Ext. 2016 or e-mail bbuley@cdapress.com.

Recent Headlines