To borrow a phrase from fishing folk: this is why they call it mining, and not producing. Mining for metals is an unforgiving challenge, but miners chase their quarry like fishermen in pursuit of the perfect haul.
Coeur d'Alene Mines
Meanwhile, the biggest catch of Coeur's season is the 40% expansion of Palmarejo's mineral wealth, achieved through exploration of the nearby Guadalupe deposit. The upgrade brings proven and probable reserves to 88.6 million ounces of silver and 1.1 million ounces of gold, and substantially enhances life-of-mine cash flow expectations. At $8.76 per ounce, costs remain high, but by 2010 each ounce of silver could cost as little as $1.50 to mine as annual production reaches 9 million ounces. Each deck hand will receive ... oh wait, wrong show. This is the shiniest catch.
What's the catch?
Celebrations for fishermen are short-lived, as thoughts quickly return to all that can potentially go wrong. Precious metal investors are similarly aware that operational snags like those reported by Kinross Gold
Also, while rival Hecla Mining
The shiniest catch in silver?
Despite the San Bartolome glitch and quarterly loss, I consider Coeur d'Alene Mines a serious silver standout. Hecla has the upper hand in operating costs, Pan American Silver
Fool contributor Christopher Barker carries a silver coin that reads: "Honest value never fails." He can be found blogging actively and acting Foolishly in the CAPS community under the username TMFSinchiruna. He tweets. He owns shares of Agnico-Eagle Mines, Coeur d'Alene Mines, Hecla Mining, Kinross Gold, Pan American Silver, Silvercorp Metals, and Silver Wheaton. The Motley Fool's disclosure policy is 0.999 pure.