EXHIBIT 12

Coeur d’Alene Mines Corporation
Statement Regarding Computation of
Ratio of Earnings to Fixed Charges

		Year Ended December 31,															Nine Months Ended September 30,
Fixed Charges		1998			1999			2000			2001			2002			2002			2003
Interest expense			12,789,085			15,421,462			15,910,823			13,436,923			20,503,391			16,249,966			10,393,264
Capitalized interest			6,608,711			1,281,342			0			0			0			0			0
Amortization of public offering costs			1,324,335			1,154,902			1,099,928			1,156,666			1,529,701			1,264,244			376,181
Amortization of capital lease costs			1,288,382			89,981			82,452			79,563			8,139			4,441			8,630
Marcs Dividend			10,532,000			10,532,000			2,180,000			0			0			0			0
Portion of rent expense representative of interest			385,631			354,156			388,144			289,300			357,783			260,933			282,755
	TOTAL FIXED CHARGES		32,928,144			28,833,842			19,661,347			14,962,452			22,399,014			17,779,584			11,060,831
Earnings
Net income (loss) from continuing operations before income taxes			(233,335,000	)		(27,991,000	)		(47,465,000	)		(3,073,000	)		(81,208,000	)		(35,091,000	)		(51,207,000	)
Fixed charges per above			32,928,144			28,833,842			19,661,347			14,962,452			22,399,014			17,779,584			11,060,831
Less interest capitalized			(6,608,711	)		(1,281,342	)		0			0			0			0			0
Current period amortization of capitalized interest			12,992,346			0			0			0			0
			(194,023,222	)		(438,500	)		(27,803,653	)		11,889,452			(58,808,986	)		(17,311,416	)		(40,146,169	)
Earnings insufficient to cover fixed charges			(226,951,365	)		(29,272,342	)		(47,465,000	)		(3,073,000	)		(81,208,000	)		(35,091,000	)		(51,207,000	)
Ratio of earnings to fixed charges			(5.89	)		(0.02	)		(1.41	)		0.79			(2.63	)		(0.97	)		(3.63	)