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Coeur Mining, Inc. (CDE) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Coeur Mining, Inc.

CIK: 215466 Ticker: CDE


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Coeur Reports Fourth Quarter and Full-Year 2016 Results
Chicago, Illinois - February 8, 2017 - Coeur Mining, Inc. (the “Company” or “Coeur”)
(NYSE:CDE) today reported 2016 financial results, posting net income of $55.4 million, or $0.34 per share, and cash flow from operating activities of $125.8 million, an increase of $12.3 million, or 11%, over 2015. Adjusted EBITDA1 for the year was $215.2 million, increasing nearly $90 million, or 68%, year-over-year. Over the course of 2016, the Company also meaningfully strengthened its balance sheet, ending the year with total outstanding debt of $210.9 million, a 57% reduction compared to a year ago, net debt1 of $48.7 million, and a year-end cash balance of $162.2 million.
In the fourth quarter, the Company generated a net loss of $8.3 million, or $0.03 per share, due mostly to lower metal prices and a one-time loss of $11.3 million related to the redemption of $190 million in principal of the Company's 7.875% Senior Notes due 2021. Quarterly cash flow from operating activities was $25.5 million and adjusted EBITDA1 was $44.0 million.

Highlights
As announced on January 5, 2017, Coeur achieved record production of 3.9 million ounces of silver and 102,500 ounces of gold, or 10.0 million silver equivalent ounces (AgEqOz)1, for the fourth quarter and 14.8 million ounces of silver and 358,170 ounces of gold, or 36.3 million AgEqOz1 for the full year
For Coeur's primary silver operations, CAS and adjusted CAS per average spot AgEqOz1 were $11.42 and $11.34, respectively, for the fourth quarter and $11.12 and $10.99 for the full year. The full-year figures represented 10% and 7% year-over-year declines, respectively
For Coeur's primary gold operations, fourth quarter CAS and adjusted CAS per gold equivalent ounce (AuEqOz)1 were $675 and $676, respectively. Relative to 2015, full-year CAS and adjusted CAS per AuEqOz1 declined 8% and 10%, respectively, to $705 and $688
Companywide AISC and adjusted AISC per average spot AgEqOz1 were $14.56 and $14.52, respectively, for the quarter and $14.27 and $14.09 for the full year. Full-year figures both represent year-over-year decreases of 2%. On a 60:1 equivalence basis, companywide AISC and adjusted AISC per AgEqOz1 were $16.08 and $15.88, respectively, both within the Company guidance range of $15.75 - $16.25
General and administrative expenses were $29.4 million, within Company guidance and representing a year-over-year decrease of 10%
Capital expenditures for the quarter were $29.9 million, driven by the ramp-up of Palmarejo underground operations at Guadalupe and Independencia, construction of the Stage IV leach pad expansion at Rochester, and continued development of the Jualin decline at Kensington. Full-year capital expenditures were $101.0 million, below Company guidance of $105 - $115 million
Total debt decreased $279.5 million, or 57%, year-over-year. Together with rising adjusted EBITDA1, the Company's total debt to last twelve month (LTM) adjusted EBITDA1 declined to 1.0x, down from 3.8x a year ago and 5.5x fifteen months ago
In 2016, Coeur monetized several non-core assets for a total consideration of $23.8 million, consistent with its strategy of redeploying capital to higher-return opportunities. This focus has continued into the new year, with the pending Joaquin Project sale announced in January 2017 for total consideration of $25 million plus a 2% NSR


1

The following information was filed by Coeur Mining, Inc. (CDE) on Thursday, February 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Acquisitions Paramount (details)
Acquisitions Wharf Gold Mine (details)
Basis Of Presentation
Commitments And Contigencies (details Textual)
Commitments And Contingencies
Debt
Debt (details Textual)
Debt (details)
Debt (tables)
Debt Minimum Operating And Capital Lease Payments (details)
Derivative Financial Instruments
Derivative Financial Instruments (details 1)
Derivative Financial Instruments (details 2)
Derivative Financial Instruments (details Textual)
Derivative Financial Instruments (details)
Derivative Financial Instruments (tables)
Fair Value Measurements
Fair Value Measurements (details 1)
Fair Value Measurements (details 2)
Fair Value Measurements (details 3)
Fair Value Measurements (details Textual)
Fair Value Measurements (details)
Fair Value Measurements (tables)
Income And Mining Taxes
Income And Mining Taxes (details Textual)
Income And Mining Taxes (details)
Income And Mining Taxes (tables)
Income And Mining Taxes Deferred Tax Assets And Liabilities (details)
Income And Mining Taxes Tax Attribute Carryforward (details)
Income And Mining Taxes Unrecognized Tax Benefits (details)
Income And Mining Taxes Valuation Allowance (details)
Inventory And Ore On Leach Pads
Inventory And Ore On Leach Pads (details)
Inventory And Ore On Leach Pads (tables)
Investments
Investments (details)
Investments (tables)
Mining Properties
Mining Properties (details Textual)
Mining Properties (details)
Mining Properties (tables)
Net Income (loss) Per Share
Net Income (loss) Per Share (details)
Net Income (loss) Per Share (tables)
Net Income (loss) Per Share Net Income (loss) Per Share (details 1)
Other, Net
Other, Net (details)
Other, Net (tables)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Receivables
Receivables (details)
Receivables (tables)
Reclamation
Reclamation (details)
Reclamation (tables)
Retirement Savings Plan
Retirement Savings Plan (details)
Segment Reporting
Segment Reporting (details 1)
Segment Reporting (details 2)
Segment Reporting (details 3)
Segment Reporting (details)
Segment Reporting (tables)
Stock-based Compensation
Stock-based Compensation (details 1)
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details Textual)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies Narrative (details)
Supplemental Cash Flow Information Supplemental Cash Flow Information
Supplemental Cash Flow Information Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information Supplemental Cash Flow Information (tables)
Supplemental Guarantor Information
Supplemental Guarantor Information (tables)
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (details)
Supplemental Guarantor Information Condensed Consolidated Statements Of Cash Flows (details)
Supplemental Guarantor Information Condensed Consolidated Statements Of Comprehensive Income (loss) (details)
Write-downs
Write-downs (tables)
Write-downs Write-downs (details)
Ticker: CDE
CIK: 215466
Form Type: 10-K Annual Report
Accession Number: 0000215466-17-000056
Submitted to the SEC: Wed Feb 08 2017 6:48:48 PM EST
Accepted by the SEC: Thu Feb 09 2017
Period: Saturday, December 31, 2016
Industry: Gold And Silver Ores

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