|Shares Out. (in M):||70||P/E||0.0x||0.0x|
|Market Cap (in $M):||36||P/FCF||0.0x||0.0x|
|Net Debt (in $M):||-5||EBIT||0||0|
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The Galena Complex today includes the Galena mine, which has 23MM ounces of silver in reserves as of the last 43-101, in veins that are narrow but high grade, some of which have silver mixed with lead and others silver mixed with copper. There are two shafts (vertical passages through which hoists move miners and material) in Galena, and a mill on the surface that can handle 1000 tons/day of ore. This past July USGIF halted production from the ten lowest grade stopes out of the 25 that it had been mining. This reduced silver output (before some new production kicks in), but by raising the average grade it helps lower the cost/ounce.
To the west of the Galena Mine, but connected underground, is the Coeur mine, which operated for about 30 years ending in 1998. Exploration has found some promising new areas, and the company was on the verge of restarting the mine last winter, when dropping silver prices made it decide to keep that plan on hold, since limited capital would be much more productively deployed developing the Caladay Zone.
Sitting above the Coeur is a second mill, now temporarily idled after eliminating the low grade production from the Galena mine, since the Galena mill can handle all the output, at least for now. The two mills collectively can handle 1500 tons or ore per day, and current production is only about 500 tons, providing plenty of excess capacity to handle growth of production from the Caladay Zone and restarting the lower grade stopes if higher silver prices justify that.
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