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Coeur Mining, Inc. (CDE) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Coeur Mining, Inc.

CIK: 215466 Ticker: CDE


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Coeur Reports Second Quarter 2019 Results
Full-Year Production and Cost Guidance Reaffirmed

Chicago, Illinois - August 7, 2019 - Coeur Mining, Inc. (“Coeur” or the “Company”)
(NYSE: CDE) today reported second quarter 2019 financial results, including revenue of $162.1 million, adjusted EBITDA1 of $30.6 million and cash flow from operating activities of $26.4 million. Including a non-cash write down of $11.9 million taken in the quarter, the Company reported GAAP net loss from continuing operations of $36.8 million, or $0.18 per share. On an adjusted basis1, the Company reported a net loss of $23.0 million, or $0.11 per share.
The Company is reaffirming full-year 2019 production guidance of 334,000 - 372,000 ounces of gold, 12.2 - 14.7 million ounces of silver, 25 - 40 million pounds of zinc and 20 - 35 million pounds of lead. In addition, full-year cost guidance is being reaffirmed.

Key Highlights
Solid operational and financial performance at Palmarejo - Palmarejo’s gold and silver production increased 22% and 36% quarter-over-quarter, respectively. Higher production was driven by increased mill throughput and improved recovery rates. Second quarter adjusted costs applicable to sales (“CAS”)1 for gold and silver on a co-product basis were $741 and $9.17 per ounce, respectively, and remained within full-year guidance ranges of $650 - $750 per ounce of gold and $9.00 - $10.00 per ounce of silver
Rochester now processing ore through high-pressure grinding roll (“HPGR”) unit - Coeur has successfully commissioned the enhanced crushing circuit, including the HPGR unit, and has recommenced full mining and processing activities. Preliminary metallurgical test work from newly crushed and placed material indicate results in-line with expectations. The new crushing circuit is expected to improve silver recoveries and help reduce operating costs during the remainder of the year
Kensington benefiting from the high-grade Jualin deposit - Kensington’s gold production in the second quarter increased by 14% compared to the prior period. Jualin accounted for approximately 17% of Kensington’s production during the quarter, helping to reduce adjusted CAS1 15% quarter-over-quarter to $842 per ounce. Increased production from Jualin is expected to contribute to higher production levels and lower unit costs for the remainder of 2019
Strongest quarter of operational performance at Silvertip - Second quarter results at Silvertip represented the best period of operational performance since acquisition. Despite lower mill throughput, silver, zinc and lead production increased 44%, 43% and 62%, respectively, compared to the prior quarter, driven by significantly higher feed grades and improved recovery rates. The Company continues to execute key projects targeting mill availability, which are anticipated to drive improved results during the remainder of 2019
19% reduction in total debt2 in the second quarter - Coeur repaid $82.0 million of outstanding indebtedness, leading to a 19% quarter-over-quarter reduction in total debt2. At June 30, 2019, the Company had $53.0 million drawn under its $250.0 million senior secured revolving credit facility, approximately 61% lower compared to the prior period

1

The following information was filed by Coeur Mining, Inc. (CDE) on Wednesday, August 7, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Coeur Mining, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly 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)
Additional Balance Sheet Detail And Supplemental Cash Flow Information
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Details 1)
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Details)
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Tables)
Basis Of Presentation
Commitments And Contigencies (Details Textual)
Commitments And Contingencies
Debt
Debt (Details Textual)
Debt (Details)
Debt (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Summary Of Classification Of Fair Value Of Derivative Instruments (Details)
Derivative Financial Instruments - Summary Of Mark-To-Market Gain (Losses) On Derivative Instruments (Details)
Derivative Financial Instruments - Summary Of Provisionally Priced Sales (Details)
Discontinued Operations (Notes)
Discontinued Operations (Tables)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Statements (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Assets And Liabilities Carried At Book Value (Details)
Fair Value Measurements - Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Summary Of Gain (Loss) Derivative Instruments (Details)
Fair Value Measurements - Summary Of Level 3 Financial Assets And Liabilities (Details)
Income And Mining Taxes
Income And Mining Taxes (Tables)
Income And Mining Taxes - Income (Loss) Before Income Taxes (Details)
Income And Mining Taxes - Narrative (Details)
Inventory And Ore On Leach Pads
Inventory And Ore On Leach Pads (Details)
Inventory And Ore On Leach Pads (Tables)
Inventory And Ore On Leach Pads - Narrative (Details)
Investments
Investments (Details)
Investments (Tables)
Leases
Leases (Tables)
Leases - Summary Of Lease Cost And Cash Flow Information (Details)
Leases - Summary Of Minimum Future Lease Payments (Details)
Leases - Supplemental Balance Sheet Information (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details)
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Summary Of Common Stock Issuance (Details)
Other, Net
Other, Net (Details)
Other, Net (Tables)
Receivables
Receivables (Details)
Receivables (Tables)
Reclamation
Reclamation (Details)
Reclamation (Tables)
Segment Reporting
Segment Reporting (Details 1)
Segment Reporting (Details 2)
Segment Reporting (Details)
Segment Reporting (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details Textual)
Stock-Based Compensation (Tables)
Stock-Based Compensation - Summary Of Grants Awarded (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
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)
Ticker: CDE
CIK: 215466
Form Type: 10-Q Quarterly Report
Accession Number: 0000215466-19-000113
Submitted to the SEC: Wed Aug 07 2019 12:50:25 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Sunday, June 30, 2019
Industry: Gold And Silver Ores

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