Coeur d’Alene Mines Corp., a U.S. silver producer, will probably make an acquisition in the next 12 months, Chief Executive Officer Mitchell Krebs said.
Coeur, which operates mines in Argentina, Bolivia, Mexico and the U.S., will consider deals of as much as $250 million and assets that can produce about 3 million to 4 million ounces a year of silver, Krebs said today in an interview in Denver, where he’s attending the Denver Gold Forum.
“In a year from now we will have grown externally,” Krebs said. The company is seeking acquisitions that are “incremental, bite-sized, strategic, accretive and with an attractive rate of return,” he said. “It’s not just growth for growth’s sake.”
The company, based in Coeur d’Alene, Idaho, is also seeking to increase production from its operations, he said. Krebs said he’s focused in “pro-mining” regions and mainly in areas where the company already operates.
“We have invested a lot in junior companies,” he said. “We have ownership interests in eight different small-cap companies that have projects that we are interested in and like.”
Coeur has bought about $10 million worth of its own shares as part of a $100 million share-repurchase program, the company said Sept. 7. The miner expects to produce at the high end of its 2012 forecast of 18.5 million to 20 million ounces of silver and 210,000 to 230,000 ounces of gold, Krebs said.