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Coeur Mining, Inc. (CDE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Coeur Mining, Inc.

CIK: 215466 Ticker: CDE

NEWS RELEASE             image0a82.jpg
Coeur Reports Fourth Quarter and Full-Year 2021 Results
Provides Full-Year 2022 Guidance

Chicago, Illinois - February 16, 2022 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported fourth quarter 2021 financial results, including revenue of $208 million and cash flow from operating activities of $35 million. The Company reported GAAP net loss from continuing operations of $11 million, or $0.04 per share, which included a non-cash unrealized loss of $8 million on strategic equity investments, primarily related to Coeur’s 18% equity ownership of Victoria Gold Corp. (“Victoria”) during the quarter. On an adjusted basis
1, Coeur reported EBITDA of $49 million, cash flow from operating activities before changes in working capital of $38 million and net loss from continuing operations of $12 million, or $0.05 per share.
For the full year, Coeur reported revenue of $833 million, cash flow from operating activities of $110 million and GAAP net loss from continuing operations of $31 million, or $0.13 per share. On an adjusted basis1, the Company reported EBITDA of $211 million, cash flow from operating activities prior to changes in working capital of $146 million and net loss from continuing operations of $1 million, or $0.01 per share
Key Highlights
Solid fourth quarter production growth led to full-year production within guidance ranges – Gold and silver production increased 2% and 6% quarter-over-quarter, respectively, to 88,946 ounces and 2.6 million ounces. Full-year gold and silver production totaled 348,529 ounces and 10.1 million ounces, respectively, within the Company’s consolidated production guidance range for both metals
Strong cost performance from primary gold operations – Full-year adjusted costs applicable to sales2 at Palmarejo, Kensington and Wharf were within their guidance ranges for 2021 despite inflationary cost headwinds, leading to strong free cash flow1 at each of these primary gold operations. During 2021, gold sales represented 70% of the Company’s total revenue
Largest exploration program in Company history extended mine lives and drove resource growth – Coeur increased total exploration investment 41% year-over-year to $71 million in 2021, bringing its five-year cumulative investment in exploration to nearly $240 million, which has led to significant increases in reserves and resources. From the 2021 program, mine life extensions at Palmarejo and Wharf as well as significant resource additions at Silvertip and Kensington continue to lay the foundation for future organic growth
Updated capital and schedule estimates for Rochester expansion provide clarity – The Company estimates the total capital for the Plan of Operations Amendment 11 (“POA 11”) will be approximately $520 million, which is in-line with recent updates. Approximately $236 million has been incurred on the project as of December 31, 2021. In addition, Coeur estimates the cost to incorporate pre-screens into the new crusher circuit and associated re-assessment of project contingency to be approximately $70 - $80 million. Construction is expected to be completed mid-2023 with commissioning to follow. Post-expansion, full-year production is expected to average roughly 8 million ounces of silver and 76,250 ounces of gold with average free cash flow1 of $90 million from 2024 to 2034
1

The following information was filed by Coeur Mining, Inc. (CDE) on Wednesday, February 16, 2022 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 2)
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)
Disposals
Disposals (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Changes In The Fair Value Of The Company's Level 3 Financial Assets (Details)
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 (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)
Segment Reporting - Summary Of Concentration Risk (Details)
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: 0000215466-22-000094
Submitted to the SEC: Wed May 04 2022 4:47:31 PM EST
Accepted by the SEC: Wed May 04 2022
Period: Thursday, March 31, 2022
Industry: Gold And Silver Ores

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