Coeur Mining, Inc. · NYSE:CDE
Coeur Mining — Investor Day (December 2022)
108 slides from Coeur Mining's investor day presentation, Dec 15, 2022
Slide 1: 2022 Investor Day
2022 Investor Day December 2022 NYSE: CDE NYSE: CDE 1 JC 2016
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward‐looking statements within the meaning of securities legislation in the United States and Canada, including statements involving strategic priorities and company strategies, expectations regarding environmental, social and governance (“ESG”) in
Slide 3: Cautionary Statements (cont.)
Cautionary Statements (cont.) Cautionary Statements Regarding Company Outlook In connection with Coeur’s regular planning process, Coeur’s management prepared certain unaudited financial and operating projections, some portions of which are included in this presentation. These projections were not p
Slide 4: Introduction to Coeur Video
Introduction to Coeur Video NYSE: CDE 4 JC 2016
Slide 5: Agenda
Agenda Mitchell J. Krebs • Strategy President & Chief Executive Officer Jeane Hull • Board Update Newest Board Member Michael “Mick” Routledge • Operations & Projects Senior Vice President & Chief Operating Officer Aoife M. McGrath • Exploration Senior Vice President, Exploration Emilie C. Schou
Slide 6: Company Overview & Strategy
Company Overview & Strategy Mitchell J. Krebs President & Chief Executive Officer NYSE: CDE 6 JC 2016
Slide 7: Company Overview
Company Overview Headquartered in Chicago, IL, Coeur Mining is a well-diversified, growing precious metals producer with a focus on generating sustainable, high-quality cash flow from its North American asset base U.S. organic growth offers unique near-term catalyst Company Snapshot Listing: NYSE: C
Slide 8: Overview of Strategy
Overview of Strategy Coeur Mining aims to be America’s premier, growing provider of precious and critical metals Balanced, prospective asset base in mining Growth from investments in exploration friendly jurisdictions and expansions - Unique U.S. centric model - - Sector leading near-term expected g
Slide 9: Why Coeur?
Why Coeur? • Aim to be America’s premier intermediate precious metals producer – Growing source of strategically important domestic resources • Positioned for growth – Near term: Transformational Rochester expansion nearing completion – Medium term: Sector-leading multi-year exploration investme
Slide 10: Message From Newest Board Member
Message From Newest Board Member NYSE: CDE 10 JC 2016
Slide 11: Operations & Projects
Operations & Projects Michael “Mick” Routledge Senior Vice President & Chief Operating Officer NYSE: CDE 11 JC 2016
Slide 12: Portfolio Overview
Portfolio Overview Coeur’s operations reflect the Company’s strategy of owning a balanced, safe and unique portfolio of American-based precious metals assets Palmarejo Rochester Kensington Wharf Snapshot Chihuahua, Nevada, Alaska, South Dakota, Location Mexico United States United States United Stat
Slide 13: Operational Framework and Commitment to Safety
Operational Framework and Commitment to Safety Coeur deploys a rigorous planning process to help facilitate the methodical execution of its strategic operational objectives, while maintaining a steadfast commitment to the health and safety of its workforce Management Operating System Strategic Objec
Slide 14: Operational Framework and Commitment to Safety (cont.)
Operational Framework and Commitment to Safety (cont.) The Company has multiple systems and processes in place aimed at achieving the highest level of safety for its employees and the environment Process safety management (PSM) Critical Risk Management (CRM) • Disciplined framework for managing the
Slide 15: Business Improvement: Project Delivery Mechanism
Business Improvement: Project Delivery Mechanism Coeur implemented this system to advance projects to enhance its project execution and delivery capabilities. In 2022, the system has been broadened to business improvement in GHG emissions, critical focus groups and machine learning 1 2 3 4 Value Con
Slide 16: Business Improvement: 2022 Project Profiles
Business Improvement: 2022 Project Profiles Business Improvement projects are on-track to exceed a targeted $25 million of cost savings in 2022 Kensington Rochester • 2022 Cost Savings Target: $6 million • 2022 Cost Savings Target: $6 million • 2022 Cost Savings Projection (Locked-in): $5 - $8 milli
Slide 17: Rochester Expansion Project Update
Rochester Expansion Project Update NYSE: CDE 17 JC 2016
Slide 18: Rochester Expansion Update
Rochester Expansion Update The Rochester expansion is approximately 69%1 complete with construction remaining on track to be wrapped up mid-2023 and pre-commissioning, commissioning and ramp-up taking place in the second half of next year Construction Completion Date Key 2022 Milestones Stage VI Lea
Slide 19: Maintaining Focus on Safe Project Execution
Maintaining Focus on Safe Project Execution Coeur has maintained a strong focus on safe project construction execution at POA 11 since site work began in 2020 • Construction commenced in August 2020 • More than 1.2 million on-site hours worked safely by multiple contractors • A major milestone of
Slide 20: Aerial View of Rochester Expansion
Aerial View of Rochester Expansion As shown below, tremendous progress has been made on the Rochester expansion since construction began in August 2020 300M Ton Stage VI Leach Pad Contingency Ponds Electrical Substation Note: For additional information on the expansion of Rochester, please refer to
Slide 21: Project Spotlight: Crusher Corridor
Project Spotlight: Crusher Corridor Highlighted below is the significant advancements made to date on the new crusher corridor, including the integration of pre-screens Primary Crusher Primary Stockpile Reclaim Secondary Crusher Secondary Stockpile Reclaim Pre-screen Tertiary Crusher Crusher Corrido
Slide 22: Significant Achievements Reducing Completion Risk
Significant Achievements Reducing Completion Risk Construction on the expansion at Rochester continues to advance with solid environmental and safety performance. Coeur has achieved significant milestones that reduce the overall completion risk for the project • Leach pad construction is complete •
Slide 23: Significant Achievements Reducing Completion Risk (cont.)
Significant Achievements Reducing Completion Risk (cont.) • Significant equipment installations have been completed: – Merrill-Crowe process equipment – Secondary and tertiary crushers – Electrical e-houses and switchgear • Bulk materials purchases are nearing completion with deliveries to support
Slide 24: Additional Construction Photos
Additional Construction Photos Merrill-Crowe Substation & e-House Merrill-Crowe Processing Facility Pregnant & Barren Solutions Tanks & Pumps Solutions Corridor Merrill-Crowe Plant, Solutions Corridor, Substation Secondary Crusher Area Primary Crushed Ore Conveyor Tertiary Crusher Area Note: For add
Slide 25: Rochester POA 11 Update
Rochester POA 11 Update NYSE: CDE 25 JC 2016
Slide 26: Silvertip Update
Silvertip Update NYSE: CDE 26 JC 2016
Slide 27: Silvertip: Review of 2022 Project Work
Silvertip: Review of 2022 Project Work During 2022, Coeur conducted order of magnitude assessment studies on multiple throughput scenarios to narrow down the preferred path forward for Silvertip • Coeur began the year assessing the opportunity to continue enhancing the economics of a potential expa
Slide 28: Silvertip: Current Path Forward
Silvertip: Current Path Forward The Company still anticipates a potential expansion and restart of Silvertip would slot in following the completion of POA 11, allowing for an acute focus on successful completion of the Rochester expansion while maximizing balance sheet flexibility • Plan to begin d
Slide 29: Exploration
Exploration Aoife M. McGrath Senior Vice President, Exploration NYSE: CDE 29 JC 2016
Slide 30: Executive Summary
Executive Summary • Highly successful exploration investment of approximately $240 million over past five years – ~0.5M ounces of net gold and ~85M ounces of net silver P+P reserves added1 – ~2M ounces of net gold and ~113M ounces of net silver M+I resources added1 – ~2M ounces of net gold and ~32M
Slide 31: Impacts of Coeur's Exploration Investment
Impacts of Coeur’s Exploration Investment Year-End 2016 Exploration Targets Year-End 2021 Exploration Targets Reser ve Definition 7 15 5 M&I Resource 10 3 Inferred Resources 4 9 Advanced Exploration 9 Follow-up 19 Target 23 Identified 24 Target 39 12 Generative 20 Total Total Rochester Wharf Palmare
Slide 32: Key Long-Term Exploration Objectives
Key Long-Term Exploration Objectives Coeur continues to put a strong emphasis on internal growth through the drill bit with the long-term objectives focusing on additional life of mine additions on currently large, underexplored, land packages at Palmarejo, Rochester and Silvertip Large land package
Slide 33: Kensington Exploration Update
Kensington Exploration Update NYSE: CDE 33 JC 2016
Slide 34: Kensington Video
Kensington Video Note: For complete tables of all drill results published in 2022, please refer to the following link: NYSE: CDE 34 https://coeur.com/_resources/pdfs/2022-12-15-Exploration-Update-Appendix.pdf. JC 2016
Slide 35: Silvertip Exploration Update
Silvertip Exploration Update NYSE: CDE 35 JC 2016
Slide 36: Silvertip Land Package
Silvertip Land Package North Berg Camp Silvertip Mountain Resource Footprint Brinco Hill UG Portal Saddle Zone Mag Low Resource Growth Tour Ridge Trident Creek NYSE: CDE 36 JC 2016
Slide 37: Silvertip: Location and Geological Setting
Silvertip: Location and Geological Setting Silvertip Summary Geology Regional Setting Sentinal Mt. Silvertip Tricorne Mt Smoke Mt • Silvertip is located in northern British Columbia, Canada, some 50 miles west of Watson Lake, Yukon Hamlet Mt. • The 37,650ha project area is 100% owned by Coeur Silv
Slide 38: Silvertip: Grade Comparison
Silvertip: Grade Comparison1,2 Silvertip’s grades are amongst some of the highest in the world for similar Ag, Pb and ZN CRD deposits La Platosa/Saltierra Burgin Kipushi Silvertip Plomosas Plomosas Shafter Stratoni McArthur River Burgin La Platosa/Saltierra Florida Canyon La Parrilla Silvertip Silve
Slide 39: Silvertip: Resource Growth Since Acquisition
Silvertip: Resource Growth Since Acquisition Between 2018 to 2021 Coeur invested approximately $42 million in exploration and drilled roughly 241,656 meters 20171 M+I: ~2.3M tonnes Inferred: ~0.5M tonnes ¯ 20211 P+P: 1.6M tonnes M+I: ~2.6M tonnes Discovery North ¯ Inferred: ~2.1M tonnes Central Disc
Slide 40: Silvertip Video
Silvertip Video1,2 Note: For complete tables of all drill results published in 2022, please refer to the following links: NYSE: CDE 40 https://coeur.com/_resources/pdfs/2022-12-15-Exploration-Update-Appendix.pdf. (1) Assumes conversion rate of short ton to metric tonne of 0.907185. (2) Assumes conve
Slide 41: Silvertip: Drilling Continues to Extend Mineralized Zones
Silvertip: Drilling Continues to Extend Mineralized Zones Silvertip Cross-section (looking NE) Discovery Zone Update • Recent drilling explores for chimney structures implicated in the formation of Clastic shale the Discovery Zone manto • Preliminary results confirm at least one chimney occurs benea
Slide 42: Silvertip: Five-Year Growth Plan
Silvertip: Five-Year Growth Plan Skytem Geophysics – Conductivity shown in Plan View • Will be a balance between expansion of near mine resource and assessment of the broader mineralizing Saddle Zone system Tour Ridge Deposit Open to the North • Near mine expansion will focus on already establishe
Slide 43: Silvertip: Geologic Model
Silvertip: Geologic Model Simplified CRD Model District Ag+Pb+Zn Targets SILVERTIP – Current Extent SPOKE SILVERTIP Magnetic Low Multiple Chimneys and POSSIBLE Stacked Manto PORPHYRY Horizons Expected SOURCE (HUB) HUB Skarn and Porphyry Tour Ridge Potential near source Country Rock Trident Creek SPO
Slide 44: Silvertip: Significant District Upside Potential
Silvertip: Significant District Upside Potential Target Model • Several “ingredients” are needed to form economic CRD systems in the district: Sentinal Mt. – Close proximity (<4km) to a fertile intrusive center (mineralizing fluid source) – Favorable N-S and NE structures (chimney style fluid Silv
Slide 45: Organization & Culture
Organization & Culture Emilie C. Schouten Senior Vice President, Human Resources NYSE: CDE 45 JC 2016
Slide 46: Human Capital Management and Culture at Coeur
Human Capital Management and Culture at Coeur 2021 Coeur Culture Survey with 93% participation; responders say we are… • SAFE • ETHICAL • ENGAGED • PROUD A MEASURE OF INCLUSION: 81% of females at Coeur feel included as a part of their team 78% of females at Coeur feel encouraged to speak up at
Slide 47: Labor Market and Workforce Planning
Labor Market and Workforce Planning Various factors in workforce planning: Opportunities Local hires Indigenous for females equals and Native and number of Global Talent operational hiring and female mining stability development grads Aging Demographics workforce and International in local number of
Slide 48: Coeur's People Path Forward
Coeur’s People Path Forward Strategic Human Capital Investment Business Improvement, Exploration and Projects while balancing operational teams’ needs Development of Key Talent Provide career progression and unique internal development programs to retain tomorrow’s Company leaders Creative Talent Ac
Slide 49: Finance
Finance Thomas S. Whelan Senior Vice President & Chief Financial Officer NYSE: CDE 49 JC 2016
Slide 50: Coeur's Capital Allocation Framework
Coeur’s Capital Allocation Framework Mining is capital intensive and requires a disciplined approach to capital allocation with a view toward long-term reserve replacement and growth Illustrative Return Key Benefits Key Considerations Safety/ Reflects the Company’s values Environment/ − Mitigate
Slide 51: Inflationary Cost Pressures
Inflationary Cost Pressures Consistent with macro pressures and industry trends, Coeur continued to experience inflationary pressures on key consumable costs during the third quarter Diesel Cost Per Gallon/% of CAS1 Cyanide Cost Per Pound/% of CAS1 +45% +41% $1.44 $4.55 $4.33 $1.32 $1.24 $3.62 $1.02
Slide 52: Balance Sheet and Hedging Summary
Balance Sheet and Hedging Summary Liquidity Profile1 ($M) $50 $492 $46 $390 $150 $386 $10 ($30) $75 $236 $160 ($200) Revolver Letters Revolver Revolver Cash and Total Crown Total Adj. Revolver Equity ATM Total Potential Capacity of Credit Borrowings Availability Equivalents Liquidity Sterling Liquid
Slide 53: Balance Sheet and Hedging Summary (cont.)
Balance Sheet and Hedging Summary (cont.) Recent Balance Sheet Initiatives & Key Financial Priorities • Sold southern Nevada holdings for cash consideration of $150 million received on November 4th • Sold $40 million of Victoria Gold investment Recent Balance • Amended RCF agreement to include hi
Slide 54: Three-Year Outlook Reflects Near-Term Inflection Point
Three-Year Outlook Reflects Near-Term Inflection Point1 Gold Production Silver Production (K oz) (M oz) +15% ~360 - 400 +51% ~14.5 - 17.5 ~13.0 - 15.0 ~340 - 380 ~335 - 365 ~10.4 - 12.0 ~325 - 335 ~9.5 - 10.1 2022E 2023E 2024E 2025E 2022E 2023E 2024E 2025E Cost Applicable to Sales2 Development Capit
Slide 55: Environmental, Social & Governance
Environmental, Social & Governance Casey M. Nault Senior Vice President, General Counsel & Chief ESG Officer NYSE: CDE 55 JC 2016
Slide 56: Coeur's ESG Evolution
Coeur’s ESG Evolution • Launched initiative as a pillar of business strategy with mandate and backing from the Board of Directors and CEO 2018 • Cross-functional executive committee established and dedicated ESG leader hired • Initial baseline materiality assessment identified 16 ESG-related items m
Slide 57: Recent ESG Accomplishments
Recent ESG Accomplishments Coeur is committed to being an industry leader in its ESG practices, exemplified by the Company’s recent accomplishments Published GHG emissions Conducted site-specific Korie Hickel, Director ESG, Mitch Krebs, President & target: 35% reduction in net scenario analyses and
Slide 58: What Matters to Coeur
What Matters to Coeur Coeur strives to be an industry leader in ESG, integrating factors into each aspect of its operations, activities and strategic decision making as the Company looks to the future. The following list includes material environmental, social and governance issues that matter to Co
Slide 59: 2022 ESG Goals and Targets
2022 ESG Goals and Targets Environment: Lessen Coeur’s overall environmental impact and reduce costs over time •GHG emissions: 35% reduction in net intensity by end of 2024 compared to base-year (increase targeted reduction from 25% by 2025) •Permit discharge exceedances: Sustain low incident freq
Slide 60: Precious Metals Are Coeur to Everyday Life
Precious Metals Are Coeur to Everyday Life Coeur is an important part of the supply chains for gold and silver. Due to their unique properties, gold and silver have numerous innovative uses that shape the way we live today and enable a more sustainable, healthier tomorrow Au Coeur’s Palmarejo, Roche
Slide 61: Conclusion
Conclusion Mitchell J. Krebs President & Chief Executive Officer NYSE: CDE 61 JC 2016
Slide 62: Why Coeur?
Why Coeur? • Aim to be America’s premier intermediate precious metals producer – Growing source of strategically important domestic resources • Positioned for growth – Near term: Transformational Rochester expansion nearing completion – Medium term: Sector-leading multi-year exploration investme
Slide 63: Appendix
Appendix NYSE: CDE 63 JC 2016
Slide 64: Three-Year Outlook Key Assumptions
Three-Year Outlook Key Assumptions Metals Prices ($/oz) 2022E 2023E 2024E 2025E Gold Price $1,879 $1,8661 $1,800 $1,800 Silver Price $21 $22 $22 $22 (1) Inclusive of 112,500 gold ounces hedged at an average forward price of $1,982 per ounce. NYSE: CDE 64 JC 2016
Slide 65: Palmarejo
Palmarejo The Palmarejo gold-silver complex is located in the state of Chihuahua, Mexico, consisting of a legacy open pit mine, current underground mining and processing operations as well as several other deposits and exploration targets Asset Overview Share of Companywide 2022E2 Production Ownersh
Slide 66: Palmarejo (cont.)
Palmarejo (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $948 Capital expenditures $12.50 $12.43 $12.97 $11.25 $34.3 $855 $32.9 $12.67 $704 $730 $653 $23.2 $22.3 1,843 1,708 29 29 1,813 1,795 27 1,612 $13.6 24 25 $12.9 $10.1 $10.8 $8.5 $
Slide 67: Rochester
Rochester The Rochester mine is an open pit, heap leach silver-gold operation, located in northern Nevada, which is currently undergoing a significant expansion that is expected to drive a step-change in production and cash flow Asset Overview Share of Companywide 2022E2 Production Ownership 100% Go
Slide 68: Rochester (cont.)
Rochester (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,720 $1,763 $1,821 Operating cash flow $1,665 $1,707 $74.0 Capital expenditures $22.68 $53.9 $21.76 $22.06 $20.85 $47.0 $18.46 $40.1 $33.1 739 757 689 745 655 8 9 6 7 6 ($9.1) ($9.5) ($13.7) ($12.3)
Slide 69: Kensington
Kensington The Kensington mine is an underground gold operation located in southeast Alaska, consisting of the Kensington Main deposit, Raven deposit, Jualin deposit, as well as other nearby deposits and exploration targets Asset Overview Share of Companywide 2022E2 Production Ownership 100% Gold Em
Slide 70: Kensington (cont.)
Kensington (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,610 Operating cash flow2 Capital expenditures $1,399 $1,455 $1,150 $1,111 $21.0 $19.4 34 29 28 28 $10.8 23 $9.4 $8.0 $8.8 $7.9 $7.1 $6.3 $0.8 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 3Q 2021 4Q 202
Slide 71: Wharf
Wharf The Wharf mine is an open pit, heap leach gold operation located in western South Dakota. The property consists of several areas of adjoining gold mineralization, which have been mined as a series of open pits Asset Overview Share of Companywide 2022E2 Production Ownership 100% Gold Employees1
Slide 72: Wharf (cont.)
Wharf (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $1,357 $1,233 Capital expenditures $1,118 $24.9 $1,104 $971 28 20 22 20 $10.3 18 $8.4 $6.9 $5.5 $4.2 $1.0 $1.4 $0.5 $0.5 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 3Q 2021 4Q 2021 1Q 2022
Slide 73: Silvertip
Silvertip The Silvertip development project is one of the highest-grade silver-zinc-lead deposit in the world. The site is located in northern British Columbia, Canada and sits within a highly prospective land package Asset Overview Ownership 100% Employees1 101 Claims 98,834 net acres Type Undergro
Slide 74: Non-GAAP Reconciliations
Non-GAAP Reconciliations NYSE: CDE 74 JC 2016
Slide 75: Non-GAAP to U.S. GAAP Reconciliation
Non-GAAP to U.S. GAAP Reconciliation Costs Applicable to Sales Unaudited 3 months ended September 30, 2022 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $51,271 $57,681 $50,65
Slide 76: Non-GAAP to U.S. GAAP Reconciliation
Non-GAAP to U.S. GAAP Reconciliation Costs Applicable to Sales Unaudited 3 months ended June 30, 2022 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $58,800 $42,914 $48,680 $26
Slide 77: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended March 31, 2022 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $52,611 $36,985 $4
Slide 78: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 12 months ended December 31, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $189,717 $151,
Slide 79: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended December 31, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $48,719 $42,939
Slide 80: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended September 30, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $47,763 $36,34
Slide 81: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited LTM Adjusted EBITDA ($ thousands) 3Q 2022 2Q 2022 1Q 2022 4Q 2021 3Q 2021 Net income (loss) ($137,956) ($135,280) ($25,700) ($31,322) ($8,682) Interest expense, net of capitalized interest 18,881 16,186 16,109 16,451 17,959 Income tax provision
Slide 82: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Leverage Ratios ($ thousands) 3Q 2022 2Q 2022 1Q 2022 4Q 2021 3Q 2021 Cash and cash equivalents $75,389 $74,159 $73,330 $56,664 $85,020 Total debt 635,679 547,500 485,488 487,501 442,426 Net debt 560,290 473,341 412,158 430,837 357,406 LTM adjus
Slide 83: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Three-Year Outlook Costs Applicable to Sales ($ thousands, except metal sales and per ounce amounts) 2022E 2023E 2024E 2025E Costs applicable to sales, including amortization (U.S. GAAP) $723,956 $837,998 $887,099 $818,661 Amortization (113,857)
Slide 84: Reserves and Resources
Reserves and Resources 2021 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 3,754,000 0.066 4.39 247,000 16,480,000 Rochester Nevada, USA 386,008,000 0.00
Slide 85: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2021 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 3,696,000 0.053 3.89 195,000 14,373,000 Ro
Slide 86: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2021 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 4,713,000 0.052 3.70 246,000 17,453,000 Rochester Nevada, USA 128,410,000 0.0
Slide 87: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Reserves: (1) The Mineral Reserve estimates are current as of December 31, 2021 and are reported using the definitions in Item 1300 of Regulation S–K (17 CFR Part 229) (SK1300) and were prepared by the company’s technical staff. (2) Assumed metal
Slide 88: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Resources: (1) Mineral Resource estimates are reported exclusive of Mineral Reserves, are current as of December 31, 2021, and are reported using definitions in SK1300 on a 100% ownership basis. Mineral Resource estimates were prepared by the Comp
Slide 89: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Resources (cont.): (9) Wilco Open Pit Mineral Resource estimates are reported using an equivalent gold cutoff of 0.20 ounces per ton assuming a silver to gold ratio of 60:1. Resources are reported in-situ and contained withed a conceptual measured
Slide 90: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2020 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 4,040,000 0.067 4.29 270,000 17,344,000 Rochester Nevada, USA 396,867,
Slide 91: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2020 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 1,840,000 0.052 3.67 95,000 6,746,000 Roch
Slide 92: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2020 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 4,345,000 0.064 3.34 280,000 14,525,000 Rochester Nevada, USA 226,049,000 0.0
Slide 93: Reserves and Resources
Reserves and Resources 2019 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 1,093,000 0.093 5.17 102,000 5,649,000 Rochester Nevada, USA 249,815,000 0.003
Slide 94: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2019 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 870,000 0.055 3.69 48,000 3,210,000 Roches
Slide 95: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2019 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 6,469,000 0.057 4.07 367,000 26,341,000 Rochester Nevada, USA 171,042,000 0.0
Slide 96: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2018 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 1,283,000 0.084 4.97 108,000 6,376,000 Rochester Nevada, USA 228,413,0
Slide 97: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2018 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 604,000 0.086 4.77 52,000 2,880,000 Roches
Slide 98: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2018 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 5,875,000 0.065 4.36 384,000 25,609,000 Rochester Nevada, USA 235,062,000 0.0
Slide 99: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 1,571,000 0.073 3.81 115,000 5,978,000 Rochester Nevada, USA 195,724,0
Slide 100: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 629,000 0.051 3.07 32,000 1,928,000 Roches
Slide 101: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 7,336,000 0.050 4.23 369,000 31,061,000 Rochester Nevada, USA 131,570,000 0.0
Slide 102: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) PROVEN RESERVES Palmarejo Mexico 1,569,000 0.080 4.44 126,000 6,971,000 Rochester Nevada, USA 143,686,000 0.004 0.48 503,000 68,369,000 Kensing
Slide 103: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) MEASURED RESOURCES Palmarejo Mexico 818,000 0.061 3.20 50,000 2,618,000 Rochester Nevada, USA 39,732,000 0.003 0.59 13
Slide 104: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) INFERRED RESOURCES Palmarejo Mexico 4,726,000 0.055 4.35 258,000 20,540,000 Rochester Nevada, USA 67,778,000 0.003 0.52 178,000 35,554,000 Kensington Ala
Slide 105: Executive Leadership
Executive Leadership Mitchell J. Krebs – President and Chief Executive Officer. During his twenty-year tenure with Coeur, Mr. Krebs has led nearly $2 billion in capital raising and debt restructuring activities and has facilitated over $2 billion of acquisitions and divestitures. Mr. Krebs was previ
Slide 106: Board of Directors
Board of Directors Robert E. Mellor – Independent Chairman of the board of Monro, Inc. (auto service provider) since June 2017, and appointed Interim Chief Executive Officer from August 2020 to April 2021. Previously Mr. Mellor was lead independent director from April 2011 to June 2017 and a member
Slide 107: Board of Directors (cont.)
Board of Directors (cont.) Eduardo Luna – Chairman of the Board of Rochester Resources Ltd., Mr. Luna has spent over forty years in the precious metals mining industry and has held prior senior executive and board positions at several companies including Industrial Peñoles, Goldcorp Inc., Luismin SA
Slide 108: Contact Information
Contact Information Corporate Office Coeur Mining, Inc. 104 S. Michigan Ave., Suite 900 Chicago, IL 60603 Main Telephone +1 (312) 489-5800 Stock Ticker NYSE: CDE Website www.coeur.com Contact Jeff Wilhoit Director, Investor Relations investors@coeur.com NYSE: CDE 108 JC 2016