Coeur Mining Reports Third Quarter 2022 Results

About this update from Coeur Mining, Inc.

[{"type":"text","content":"CHICAGO / Nov 09, 2022 / Business Wire / Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported third quarter 2022 financial results, including revenue of $183 million and cash flow from operating activities of $(19) million. The Company reported GAAP net loss from continuing operations of $57 million, or $0.21 per share, which included a $24 million lower of cost or market (“LCM”) adjustment at Rochester primarily due to lower silver prices. On an adjusted basis1, Coeur reported EBITDA of $18 million, cash flow from operating activities before changes in working capital of $(1) million and net loss from continuing operations of $45 million, or $0.16 per share. Key Highlights Solid production results and stronger fourth quarter expected to result in full-year production levels within 2022 guidance ranges – Third quarter gold and silver production totaled 83,438 and 2.4 million ounces, respectively. Quarter-over-quarter production growth at Rochester, Wharf and Kensington was offset by lower production at Palmarejo. Production levels are expected to increase at all four operating locations during the fourth quarter and finish the year within Coeur’s full-year guidance range of 315,000 - 353,000 ounces of gold and 9.0 - 11.0 million ounces of silver Recently installed pre-screens at Rochester providing intended benefit – Pre-screens were successfully installed between the secondary and tertiary crushers at the existing Rochester operation during the third quarter, which is driving enhanced operational flexibility and helping to generate a lower average size of crushed material and improved pad permeability. These learnings and results will be incorporated into the operating plan for the Rochester expansion and used to optimize Rochester’s life of mine plan Rochester expansion on track; capital estimate updated to incorporate pre-screens – Construction of the Rochester expansion remains on track to be completed mid-2023 with pre-commissioning, commissioning and ramp-up taking place in the second half of next year. At quarter-end, the project was 61% complete, $575 million of the estimated capital had been committed, and $443 million of the estimated capital cost had been incurred. The Company has increased the total capital by 9 - 12% to $650 - $670 million to reflect recently completed final estimates for the add...

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