This is an excellent outcome for Coeur as it allows the construction of their mining project at Kensington to re-commence. Coeur intend to invest around $100 million and are creating over 300 jobs in that area.

The challenge against Coeur was based on the possibility that the Corps of Engineers had issued the permit to Coeur Alaska, incorrectly. The Sierra Club, the Southeast Alaska Conservation Council, and Lynn Canal Conservation brought the case.

A delighted company president, Dennis E. Wheeler, was very appreciative of the work carried out by the Corps, the U.S. Forest Service, and the State of Alaska. And so he should be, this is a very significant outcome for Coeur.

CDE is currently trading up $0.04 at $5.46.

07 August 2006