COEUR D’ALENE, Idaho--Jun. 7, 2012
Coeur d’Alene Mines Corporation (NYSE:CDE)(TSX:CDM) announced today that its Board of Directors has authorized a share repurchase program of up to $100 million of the Company’s common equity. Based on yesterday’s closing price of $18.95 per share, the authorized program represents approximately 5.3 million, or nearly six percent, of the Company’s outstanding shares.
President and Chief Executive Officer Mitchell J. Krebs commented, “This program reflects our confidence in the underlying cash flow and long-term value of the Company. We view share repurchases as an effective method of returning capital to shareholders while still maintaining our commitment to growth through investing in high-return internal and external growth opportunities.”