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Coeur Mining, Inc. (CDE) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Coeur Mining, Inc.

CIK: 215466 Ticker: CDE

NEWS RELEASE             image0a821a.jpg
Coeur Reports First Quarter 2021 Results
Reaffirms Full-Year 2021 Guidance

Chicago, Illinois - April 28, 2021 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported first quarter 2021 financial results, including revenue of $202.1 million, cash flow from operating activities of $(4.4) million and GAAP net income from continuing operations of $2.1 million, or $0.01 per share. On an adjusted basis
1, the Company reported EBITDA of $65.9 million, cash flow from operating activities before changes in working capital of $41.6 million and net income from continuing operations of $13.9 million, or $0.06 per share.
The Company also reaffirmed its full-year 2021 production guidance of 322,500 - 367,500 ounces of gold and 9.7 - 12.2 million ounces of silver. Additionally, full-year cost, exploration and capital expenditure guidance was reaffirmed.
Key Highlights
Higher margins helped drive a stronger start to the year – Coeur’s first quarter results reflect a strong start to the year led by solid production and higher prices. Notably, quarterly revenue, operating cash flow before changes in working capital1 and adjusted EBITDA1 increased 17%, 38% and 42% year-over-year, respectively
Solid gold production and unit costs – The Company’s gold production of 85,225 ounces exceeded expectations for the quarter, tracking well towards its full-year guidance range. Additionally, all of the Company’s site-level gold unit costs were either below or within their full-year guidance ranges
Further enhanced liquidity and balance sheet – Coeur successfully refinanced its 5.875% senior notes due 2024 with 5.125% senior notes due 2029, capturing a lower interest rate, extending the maturity and opportunistically upsizing the offering. The Company also extended the maturity of its senior secured revolving credit facility (“RCF”) from October 2022 to March 2025. Together, these efforts improved Coeur’s liquidity profile and bolstered its balance sheet, helping to enhance financial flexibility ahead of a period of planned capital intensity
Commenced major construction on Rochester expansion – The Company began major construction on the Plan of Operations Amendment 11 (“POA 11”) expansion at its Rochester mine. Overall project progress was approximately 20% complete at the end of the first quarter. Key elements of the project timeline remain on schedule and are expected to be largely completed by late next year
Encouraging results from aggressive investment in exploration – Following its successful program in 2020, Coeur began the year with the largest exploration campaign in Company history. The Company invested approximately $14.9 million ($9.7 million expensed and $5.2 million capitalized) in exploration during the quarter, drilling roughly 250,500 feet (76,375 meters) across all sites. Drilling activities at Silvertip and Crown ramped up significantly during the quarter, while Coeur’s other sites continued to advance their resource expansion and infill programs

1

The following information was filed by Coeur Mining, Inc. (CDE) on Wednesday, April 28, 2021 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
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
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)
Debt - Interest Expense (Details)
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 Classification Of Fair Value On Derivatives Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Derivative Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Mark-To-Market Gain (Losses) On Derivative Instruments (Details)
Derivative Financial Instruments - Summary Of Pre-Tax Gains (Losses) On Derivatives Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Provisionally Priced Sales (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)
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 (Tables)
Other, Net - Summary Of Other Non-Operating (Details)
Other, Net - Summary Of Pre-Development, Reclamation And Other (Details)
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 (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Of Grants Awarded (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Summary Of Unearned Income (Details)
Supplemental Guarantor Information
Supplemental Guarantor Information (Tables)
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details)
Supplemental Guarantor Information Condensed Consolidated Statements Of Comprehensive Income (Loss) (Details)
Ticker: CDE
CIK: 215466
Form Type: 10-Q Quarterly Report
Accession Number: 0000215466-21-000096
Submitted to the SEC: Wed Jul 28 2021 4:36:19 PM EST
Accepted by the SEC: Wed Jul 28 2021
Period: Wednesday, June 30, 2021
Industry: Gold And Silver Ores

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