http://www.stockshaven.com/cde-is-a-buy/Coeur d’Alene Mines...

http://www.stockshaven.com/cde-is-a-buy/

Coeur d’Alene Mines Corp.

CDE is a buy as of Tuesday, March 31st, 2009 @ $0.95

CDE is one of the world’s leading silver companies and also has significant gold production. CDE produced 12 million ounces of silver in 2008 and production is expected to jump 66% in 2009 to approximately 20 million ounces.

Last year, CDE began production at what is now the world’s largest pure silver mine, San Bartolomé in Bolivia. CDE is expected to begin production this month at another world-leading silver/gold mine, Palmarejo in Mexico.

They have also begun production at their new silver/gold mine at Palmarejo, making is one of the largest gold/silver mines in the world! [ Article Source ]



CDE also owns and operates underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia.

CDE just disclosed today in an 8-K filing that they agreed to exchange a total of $19,735,000 in debt for 15,084,789 shares of its common stock. If the noteholders were willing to convert at $1.308 per share, more than twice CDE’s current share price, it tells me that CDE is extremely undervalued at these levels.

CDE is down from a 52-week high of $4.89 and could have astronomical upside potential.

CDE finished the year with reserve levels of 248 million ounces of silver and 2.3 million ounces of gold.

CDE has cash, equivalents and short-term investments of approximately $100 million as of January 31st and projects 2009 operating cash flow to reach $100 million.