Coeur Mining, Inc. · NYSE:CDE
Coeur Mining — Investor Day (December 2020)
109 slides from Coeur Mining's investor day presentation, Dec 17, 2020
Slide 1: 2020 Investor Day
2020 Investor Day December 2020 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, expectations regarding environmental, social and governance (“ESG”) initiatives, anticipated
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: Management Participants & Agenda
Management Participants & Agenda Mitchell J. Krebs Thomas S. Whelan Michael “Mick” Routledge Terry F.D. Smith President & Senior Vice President & Senior Vice President & Senior Vice President & Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Development Officer Casey M.
Slide 6: Company Overview
Company Overview Headquartered in Chicago, IL, Coeur Mining (NYSE: CDE) is a well-diversified, growing precious metals producer with a repositioned portfolio, focused on generating sustainable, high-quality cash flow from its North American assets Five Three Cash Flow & Returns Committed Best-in-cla
Slide 7: Key Messages
Key Messages Rebuilt Coeur has established a healthy culture, developed a solid strategy, and Foundation assembled a strong, aligned team to deliver consistent results Industr y The Company is an industry leader in environmental, social and Leader in ESG governance practices Transformational The exp
Slide 8: Strategy
Strategy Mitchell J. Krebs President & Chief Executive Officer NYSE: CDE 8 JC 2016
Slide 9: Compelling Strategy Aligned with Stockholder Priorities
Compelling Strategy Aligned with Stockholder Priorities Coeur’s strategy is to safely and responsibly discover, develop and operate a balanced portfolio of quality precious metals assets in low-risk jurisdictions to maximize cash flow, returns and net asset value Priorities • U.S.-based and NYSE-l
Slide 10: Balanced, Low-Risk Portfolio of Precious Metals Assets
Balanced, Low-Risk Portfolio of Precious Metals Assets Metal Sales 2010 YTD 20201 12% Palmarejo 23% Rochester 35% Kensington Asset $516M 45% $557M Wharf 28% San Bartolomé 29% Other2 5% 13% 10% 15% U.S. Mexico 45% Bolivia Geography Australia 28% 65% Argentina 2% 35% 10% Ov er $420 m i llion o f U . S
Slide 11: Multiple High-Impact Organic Growth Opportunities
Multiple High-Impact Organic Growth Opportunities Coeur has multiple high-impact exploration, expansion and optimization opportunities embedded in its portfolio, which it is prioritizing and pursing based on the Company’s capital allocation framework Exploration Expansion Optimization Near-Mine New
Slide 12: Environmental, Social & Governance
Environmental, Social & Governance Casey M. Nault Senior Vice President, General Counsel & Secretary NYSE: CDE 12 JC 2016
Slide 13: What Matters to Coeur
What Matters to Coeur Environmental • Training and Development • Climate Change • Health, Safety & Security • Green House Gas Emissions Society • Water Stewardship • Investment in Local Communities • Waste Minimization • Indigenous Rights • Biodiversity • Human Rights • Tailings Management Governanc
Slide 14: Recent ESG Accomplishments
Recent ESG Accomplishments Coeur is committed to being an industry leader in its environmental, social and governance practices, exemplified by the Company’s accomplishments in protecting its people, places and planet Developed TCFD Completed Community Completed Pay Reporting Road Relations Assessme
Slide 15: Governance: Goals & Highlights
Governance: Goals & Highlights Goal: Maintain Best-in-class Governance • Proactively conduct off-season outreach to institutional stockholders of at least 0.15% of outstanding shares (~60% of shares outstanding) to solicit feedback on ESG and executive compensation programs and practices • Gover
Slide 16: 2020 Incentive Plan
2020 Incentive Plan • Coeur’s incentive plans are highly aligned with its strategic objectives and purpose statement • Added Return on Invested Capital and Major Project Execution measures for 2020 TRIFR % Reduction PROTECT AIP 20% % Decline in Permit Exceedances Three-Year Growth in Reserves and
Slide 17: Social: Goals & Highlights – Our People
Social: Goals & Highlights – Our People Goal: Maintain Coeur as an Employer of Choice • Safety: Zero harm; 7.5% reduction in three-year trailing average total reportable injury frequency rate • Culture: Strengthen culture, employee engagement and retention • Diversity: Foster an inclusive work
Slide 18: Social: Goals & Highlights – Our Communities
Social: Goals & Highlights – Our Communities Goal: Make a Positive Impact on the Communities in Which We Work • Human rights: Develop a formal grievance process by 2021 Highlights Across Coeur’s Operations Palmarejo • Community par tner for 17+ years • Provides general health care to the communit
Slide 19: Environmental: Goals & Highlights
Environmental: Goals & Highlights Goals: Improve Overall Impact Coeur Has on the Environment and Reduce Costs Over Time • Develop organization-wide greenhouse gas (“GHG”) emissions reduction targets by 2021 • Conducted climate disclosures gap assessment during 2020, and enhance climate-related dis
Slide 20: Enhancing Coeur's ESG Disclosures
Enhancing Coeur’s ESG Disclosures Coeur is committed to being an ESG disclosure leader, including transparent and clear communication of performance and progress following SASB and TCFD frameworks Sustainable Accounting Standards Board (“SASB”)1 • Focused on industry-specific financially material i
Slide 21: Culture & Organization
Culture & Organization Emilie C. Schouten Senior Vice President, Human Resources NYSE: CDE 21 JC 2016
Slide 22: Culture at Coeur
Culture at Coeur 2019 Coeur Culture Survey says we are… • SAFE • ETHICAL • PROUD 93% 92% 92% I feel safe performing my job If I see something unsafe, I am Coeur is committed to minimizing comfortable saying something its impact on the environment global benchmark 81%1 global benchmark 80%1 global
Slide 23: Coeur Leadership Principles
Coeur Leadership Principles A successful leader at Coeur Mining … PROTECT DEVELOP DELIVER OUR PEOPLE, PLACES, PLANET QUALITY RESOURCES, GROWTH, PLANS IMPACTFUL RESULTS THROUGH TEAMWORK Lives our safety culture Pays attention to details Collaborates with other teams Works with integrity and follows D
Slide 24: Coeur's Culture of Diversity and Development
Coeur’s Culture of Diversity and Development Females Diversity Local Hires Average Age 10% 18% 71% 40.3 66% females are Increased non-white 62% in Average age maintained managers and above population yr/yr since 2017 2018 since 2017 U.S. Veterans/Active Military IMPACT Training Participants employed
Slide 25: Coeur's Proactive COVID-19 Response
Coeur’s Proactive COVID-19 Response NYSE: CDE 25 JC 2016
Slide 26: Operations & Projects
Operations & Projects Michael “Mick” Routledge | Terry F.D. Smith Senior Vice President & Chief Operating Officer | Senior Vice President & Chief Development Officer NYSE: CDE 26 JC 2016
Slide 27: Operations & Projects: Strategic Partnership
Operations & Projects: Strategic Partnership Michael “Mick” Routledge Terry F.D. Smith Senior Vice President & Senior Vice President & Chief Operating Officer Chief Development Officer Operational Health, safety & Project Business planning & environmental execution Development execution programs Sel
Slide 28: Portfolio Overview
Portfolio Overview Coeur’s operations reflect the Company’s strategy of owning a balanced, safe and unique portfolio of North American-based precious metals assets Palmarejo Rochester Kensington Wharf Silvertip Snapshot Chihuahua, Nevada, Alaska, South Dakota, British Columbia, Location Mexico Unite
Slide 29: Operations & Projects: Strategic Alignment
Operations & Projects: Strategic Alignment Coeur has strong strategic alignment across its business given the Company’s holistic approach to planning, including consistent foundational elements that drive a team-based approach to achieving near- and long-term goals No Harm to People or Environment K
Slide 30: 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 Operations Planning Framework Management Op
Slide 31: Business Improvement: Project Delivery Mechanism
Business Improvement: Project Delivery Mechanism Coeur recently implemented a new system to advance projects, utilizing a simple stage gate process, to enhance its project execution and delivery capabilities 1 2 3 4 Value Concept Business case Planning and documented and developed and Results Genera
Slide 32: Business Improvement: 2020 Project Profiles
Business Improvement: 2020 Project Profiles Significant production improvements have been possible at each operation through a series of targeted process changes Primary Project Goals Accomplishments1 • Increase metallurgical recoveries by 2% and 1% for gold • Increased global metallurgical recove
Slide 33: Rochester: Expansion Overview
Rochester: Expansion Overview NYSE: CDE 33 JC 2016
Slide 34: Rochester: Near-Term Performance Update
Rochester: Near-Term Performance Update Coeur is taking a diligent approach towards improving operational performance on the Stage IV leach pad, leveraging continuous feedback to strengthen short interval controls and enhance near-term production visibility • Recovery model • Column data Modelin
Slide 35: Rochester: Near-Term Performance Update (cont.)
Rochester: Near-Term Performance Update (cont.) The Company continues to leverage the use of inter-lift liners in order to maximize the placement of HPGR-crushed ore on shallower portions of the Stage IV leach pad • Phase 1 and 2 installed as an environmental mitigation controls in 2Q 2020 • Phase
Slide 36: Rochester: Near-Term Performance Update (cont.)
Rochester: Near-Term Performance Update (cont.) Rochester is using the Stage IV leach pad to fully optimize HPGR technology, which is expected to simplify the crushing process, improve silver recoveries, and ultimately deliver higher production rates and improved margins Recoverable Placed vs. Produ
Slide 37: Rochester: Expansion Expected to Unlock Significant Value
Rochester: Expansion Expected to Unlock Significant Value1 Coeur expects Rochester to generate over $100 million in average annual free cash flow post-expansion2,3, leading to an after-tax NAV5% of $634 million with an internal rate of return of 31% based solely on proven and probable reserves Low t
Slide 38: Rochester: Expansion Overview Video
Rochester: Expansion Overview Video NYSE: CDE 38 JC 2016
Slide 39: Rochester: Scope of Expansion
Rochester: Scope of Expansion The expansion of Rochester includes the construction of a new leach pad, a crushing facility equipped with two HPGR units, a Merrill-Crowe process plant, and related infrastructure to support the extension of its mine life Three-stage crushing circuit, including two HPG
Slide 40: Rochester: Expansion Capital and Funding Summary
Rochester: Expansion Capital and Funding Summary The expansion of Rochester is technically sound, has a solid funding plan and compelling economics, and is expected to fundamentally reshape Coeur Rochester Expansion Capital Breakdown1 Funding Strategy • Cash on balance sheet Crushing Circuit Cash o
Slide 41: Rochester: Expansion Project Timeline
Rochester: Expansion Project Timeline Coeur began initial construction on the expansion of Rochester in August 2020, with major construction projects scheduled to begin in 2021 and be largely completed by late 2022 2019 2020 2021 2022 2023 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Ramp-up to Leac
Slide 42: Rochester: Reserve and Resource Summary
Rochester: Reserve and Resource Summary Coeur’s exploration success has led to significant increases in Rochester reserves, leading to a longer mine life with opportunities for continued growth Proven & Probable Reserves Resources Silver (M oz) Measured & Indicated Inferred 185.5 Gold (K oz) 1,219 8
Slide 43: Rochester: Net Asset Value Sensitivities
Rochester: Net Asset Value Sensitivities1 Silver Price ($/oz) (30%) (20%) (10%) Base2 +10% +20% +30% $13.62 $15.56 $17.51 $19.45 $21.40 $23.35 $25.29 $1,081 (30%) ($191) ($29) $132 $292 $452 $612 $772 $1,235 (20%) ($76) $86 $246 $406 $566 $726 $886 $1,390 (10%) $39 $200 $360 $520 $680 $839 $999 Gold
Slide 44: Silvertip: Status Update
Silvertip: Status Update NYSE: CDE 44 JC 2016
Slide 45: Silvertip: Investment Thesis and Key Learnings
Silvertip: Investment Thesis and Key Learnings The key elements of Coeur’s acquisition strategy for Silvertip remain intact, further supported by the Company’s rigorous technical work completed in 2020 and exploration success to expand the resource Acquisition Rationale Investment Thesis Key Learnin
Slide 46: Silvertip: Key Outcomes of Pre-Feasibility Study
Silvertip: Key Outcomes of Pre-Feasibility Study The primary goal of the pre-feasibility study was to build a mine plan that supports a safe operation with strong environmental compliance, a high level of reliability, the ability to withstand market downturns and can be a meaningful long-term busine
Slide 47: Silvertip: Proposed Flowsheet and Key Improvements
Silvertip: Proposed Flowsheet and Key Improvements Recover y improvements with carbon Recover y improvements removal and reagent conditioning with reagent conditioning Potential lead pre-float (situational) Lead concentrate grade improvements Zinc concentrate grade with additional retention time and
Slide 48: Silvertip: Metallurgy Update
Silvertip: Metallurgy Update Metallurgical test work has demonstrated strong recoveries and concentrate grades. Combining improved revenues (recovery, con grade), better margins (scale and reliability) and a longer mine life (exploration, lower cut-off grade) has the potential to create a compelling
Slide 49: Silvertip: Next Steps
Silvertip: Next Steps Coeur has made significant progress to advance Silvertip; however, additional steps are required for the Company to further de-risk the project and enhance the economics of a potential restart Front-End Engineering and Design Scoping and Project risk reduction phase with capita
Slide 50: Exploration
Exploration Hans J. Rasmussen Senior Vice President, Exploration NYSE: CDE 50 JC 2016
Slide 51: Committed to a Higher-Level of Exploration Investment
Committed to a Higher-Level of Exploration Investment1 Coeur expects to maintain its commitment to a higher-level of exploration investment, while maintaining its results-driven focus on high-return targets Total Exploration Investment 2021E–2023E Exploration Investment ($M) Expensed Capitalized ~$6
Slide 52: Key Exploration Objectives
Key Exploration Objectives Coeur exceeded its internal expectations in 2020 while executing the largest exploration program in Company history. Recognizing the need for a multi-year commitment, each site has proposed an aggressive drilling program for 2021 with a continued focus on resource growth D
Slide 53: Rochester: Exploration Update
Rochester: Exploration Update Coeur’s primary focus of the exploration program at Rochester in 2020 has been expansion drilling at East Rochester as well as infill drilling beneath the open pit to further improve the economics of the upcoming expansion Expansion Program • 12 directional and two con
Slide 54: Rochester: Successful Reserve and Resource Growth
Rochester: Successful Reserve and Resource Growth Rochester East Additional mineralization, 2018 2020 strip reduction opportunity Rochester Deeps/North Layback 2018 2020 • Increased expansion of R&R to depth and to the north • Grades at depth are lower on average Note: See slides in appendix for a
Slide 55: Rochester: Three-Year Drilling Outlook
Rochester: Three-Year Drilling Outlook Over the next three years, Coeur plans to focus on aggressive resource expansion drilling at East Rochester as well as new targets south and west of Rochester’s existing open pit Rochester Drilling Priorities Gold Ridge Lincoln Shor t-Term Medium-Term Long-Term
Slide 56: Rochester: Expansion Priorities for 2021 and Beyond
Rochester: Expansion Priorities for 2021 and Beyond Rochester • Continue directional core program to south • Reverse circulation drilling at north East Rochester and East Packard Lincoln Hill District • Drill targeting with geochemistry, geology and geophysics • Begin Lincoln Hill District drill
Slide 57: Rochester: Expansion Priorities for 2021 and Beyond (cont.)
Rochester: Expansion Priorities for 2021 and Beyond (cont.) Gold Ridge Example1 Note the consistent gold grades, hosted in limestone of the Prita Formation above the Weaver/Rochester Formations (1) https://www.prnewswire.com/news-releases/rye-patch-hits-at-gold-ridge-564369141.html. NYSE: CDE 57 JC
Slide 58: Silvertip: Exploration Update
Silvertip: Exploration Update Coeur focused exclusively on expansion drilling at Silvertip through the first nine months of 2020. The Company has since transitioned its efforts to underground development to bolster exploration efforts and help facilitate follow-up drilling of encouraging results rec
Slide 59: Silvertip: Exploration Update (cont.)
Silvertip: Exploration Update (cont.) Combined, the Keda and Tour Ridge discoveries have demonstrated the potential for resource growth with over two miles (3.5 kilometers) of north- south strike length, more than triple the previous resource strike length • 2020 marks the largest and most successf
Slide 60: Crown/Sterling: Land Position of ~35,500 Net Acres
Crown/Sterling: Land Position of ~35,500 Net Acres AngloGold Silicon Project Kinross Anglo Kinross Bullfrog Gold Corp NYSE: CDE 60 JC 2016
Slide 61: Crown/C-Horst: Exploration Update
Crown/C-Horst: Exploration Update For 2020, exploration has quickly shifted focus to the new C-Horst discovery, hole CH20-002 drilled in February. Due to drill disturbance limitations, all discovery holes to date have been from only two drill platforms H o l e C H 2 0- 00 2 Note: For complete tables
Slide 62: Crown/C-Horst: Geologic Model Underway
Crown/C-Horst: Geologic Model Underway The first step in understanding the future resource and potential exploration upside is geologic modeling – with drill chips and core, Coeur’s first geological model is currently underway Ore zone Note: For complete tables of all drill results published in 2020
Slide 63: Crown/C-Horst: Highlights of Recent Drilling
Crown/C-Horst: Highlights of Recent Drilling C-Horst CH20-040 Open to South Pipeline Gulch Hole 4 TWA • 41 reverse circulation holes and three core holes completed for approximately 70,000 Mother feet (21,341 meters) Lode • Three outcropping zones of gold mineralization identified to drill south o
Slide 64: Finance
Finance Thomas S. Whelan Senior Vice President & Chief Financial Officer NYSE: CDE 64 JC 2016
Slide 65: 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 66: Summary Overview of Funding Strategy
Summary Overview of Funding Strategy Coeur plans to fund its key internal growth projects, including the expansion of Rochester, and its higher-level of exploration investment with a combination of (i) cash on hand, (ii) operating cash flow, and (iii) existing debt capacity • Capital for the expan
Slide 67: Three-Year Outlook: Operational and Financial Overview
Three-Year Outlook: Operational and Financial Overview1 Coeur’s operating and financial profile is expected to remain solid over the next two years, before improving in conjunction with the expected completion of the Rochester expansion by 2023 Production Summary Operating Cash Flow ($M) ~358 ~353 ~
Slide 68: Three-Year Outlook: Balance Sheet and Liquidity
Three-Year Outlook: Balance Sheet and Liquidity1 Coeur is targeting to maintain strong liquidity and manageable leverage levels during major construction at Rochester, supported by its flexible balance sheet Liquidity Profile ($M) 2021E 2022E 2023E • Targeting minimum year- end cash balance of Revo
Slide 69: Conclusion
Conclusion Mitchell J. Krebs President & Chief Executive Officer NYSE: CDE 69 JC 2016
Slide 70: Key Messages
Key Messages Rebuilt Coeur has established a healthy culture, developed a solid strategy, and Foundation assembled a strong, aligned team to deliver consistent results Industr y The Company is an industry leader in environmental, social and Leader in ESG governance practices Transformational The exp
Slide 71: Appendix
Appendix NYSE: CDE 71 JC 2016
Slide 72: 2020 Guidance
2020 Guidance1 Production Outlook Gold (oz) Silver (K oz) Palmarejo 100,000 – 110,000 6,000 – 7,000 Rochester 27,000 – 33,000 3,100 – 3,700 Kensington 122,500 – 130,000 - Wharf 85,000 – 95,000 - Consolidated 334,500 – 368,000 9,100 – 10,700 CAS Outlook2 Gold ($/oz) Silver ($/oz) Palmarejo (co-produc
Slide 73: Palmarejo
Palmarejo Ownership 100% Claims 67,296 net acres Type Underground Crushing, grinding, flotation, CIL, Processing Merrill-Crowe precipitation, refining Metals Silver and gold doré Mine life ~7 years Palmarejo Chihuahua, Northern Mexico Share of Companywide 2020E1 Production 2015 & 2019 Reserves & Res
Slide 74: Palmarejo (cont.)
Palmarejo (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow Capital expenditures $686 $660 $645 $10.06 $49.7 $622 $41.4 $8.95 $602 $36.3 $8.79 $8.37 $8.13 2,029 $28.9 32 32 1,835 1,720 29 29 1,784 $7.8 $8.6 $7.1 15 867 $4.5 $5.0 ($3.5) 3Q 2
Slide 75: Rochester
Rochester Ownership 100% Claims 17,044 net acres Type Open pit and heap leach Crushing, dump heap leaching, Processing Merrill-Crowe precipitation, refining Metals Silver and gold doré Rochester Mine life ~18 years Nevada, U.S. Share of Companywide 2020E1 Production 2015, 2019 & 2020 Reserves & Reso
Slide 76: Rochester (cont.)
Rochester (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,481 Operating cash flow $1,359 Capital expenditures $1,230 $1,142 $1,148 $10.2 $9.8 $14.38 $14.98 $8.3 $14.24 $13.75 $13.25 $6.9 $5.1 $5.8 $5.0 $2.1 982 848 687 728 740 11 8 6 6 5 ($5.6) ($9.3) 3Q
Slide 77: Kensington
Kensington Ownership 100% Claims 12,336 net acres Type Underground Processing Crushing, grinding, flotation Kensington processing Alaska, U.S. Metals Gold concentrate Mine life ~3 years Share of Companywide 2020E1 Production 2015 & 2019 Reserves & Resources2 P&P Reserves M&I Resources Inferred Resou
Slide 78: Kensington (cont.)
Kensington (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,128 Operating cash flow2 Capital expenditures $976 $20.8 $928 $934 $19.2 $18.9 $822 $15.2 34 33 $14.2 32 30 27 $4.9 $4.8 $5.3 $4.3 $3.9 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 3Q 2019 4Q 2019 1Q 2
Slide 79: Wharf
Wharf Ownership 100% Claims 7,852 net acres Type Open pit and heap leach Crushing, “on-off” heap leaching, Processing spent ore neutralization, carbon absorption/desorption Wharf South Dakota, U.S. Metals Electrolytic cathodic sludge Mine life ~7 years Share of Companywide 2020E1 Production 2015 & 2
Slide 80: Wharf (cont.)
Wharf (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $1,090 Capital expenditures $39.1 $887 $802 $804 $804 33 26 26 $19.1 25 $17.6 $17.0 16 $2.6 $0.8 $0.8 $0.4 $0.3 $0.5 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 3Q 2019 4Q 2019 1Q 2020 2Q
Slide 81: Silvertip
Silvertip Ownership 100% Claims 98,834 net acres Type Underground Silvertip British Columbia, Canada Crushing, grinding, flotation Processing processing, concentrate thickening Metals Lead concentrate, zinc concentrate Mine life ~5 years 2018 & 2019 Reserves & Resources1 P&P Reserves M&I Resources I
Slide 82: Non-GAAP Reconciliations
Non-GAAP Reconciliations NYSE: CDE 82 JC 2016
Slide 83: Non-GAAP to U.S. GAAP Reconciliation for Guidance
Non-GAAP to U.S. GAAP Reconciliation for Guidance Unaudited Costs Applicable to Sales Guidance for 2020 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Costs applicable to sales, including amortization (U.S. GAAP) $179,529 $102,554 $175,424 $94,989 Amortization (44,409)
Slide 84: Non-GAAP to U.S. GAAP Reconciliation
Non-GAAP to U.S. GAAP Reconciliation Costs Applicable to Sales Unaudited 3 months ended September 30, 2020 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $46,163 $22,382 $43,053 $31,887 $1,185
Slide 85: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended June 30, 2020 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $26,095 $21,348 $43,235 $25,653 $1,
Slide 86: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended March 31, 2020 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $49,149 $19,860 $42,429 $20,267 $2
Slide 87: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 12 months ended December 31, 2019 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $201,306 $118,246 $170,194 $92
Slide 88: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended December 31, 2019 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $49,590 $31,100 $41,537 $29,818
Slide 89: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended September 30, 2019 ($ thousands, except per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $53,237 $31,999 $43,085 $25,38
Slide 90: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Three-Year Outlook Adjusted EBITDA Consolidated Debt ($ millions) 2021E 2022E 2023E ($ millions) 2021E 2022E 2023E Net income (loss)1 ~$106 ~$51 ~$54 Cash and cash equivalents ~$70 ~$70 ~$70 Interest expense, net of capitalized interest ~23 ~22
Slide 91: Reserves and Resources
Reserves and Resources Rochester 2020 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) PROVEN RESERVES Rochester 366,799,000 0.003 0.40 969,000 146,405,000 Nevada Packard 30,068,000 0.003 0.54 78,000 16,240,000 Total Rochester N
Slide 92: Reserves and Resources (cont.)
Reserves and Resources (cont.) Rochester 2020 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) MEASURED RESOURCES Rochester 225,887,000 0.002 0.24 364,000 53,271,000 Nevada Packard 18,534,000 0.002 0.32
Slide 93: Reserves and Resources (cont.)
Reserves and Resources (cont.) Rochester 2020 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) MEASURED RESOURCES Rochester 221,115,000 0.002 0.27 397,000 59,643,000 Nevada Packard 4,935,000 0.002 0.41 11,000 2,027,000 Total Rochester Nev
Slide 94: Reserves and Resources (cont.)
Reserves and Resources (cont.) 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 249,815,0
Slide 95: 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 96: 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 97: 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 98: 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 99: 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 100: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2015 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) PROVEN RESERVES Palmarejo Mexico 802,000 0.077 6.29 62,000 5,048,000 Rochester Nevada, USA 96,520,000 0.003 0.53 316,000 51,007,000 Kensington
Slide 101: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2015 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 134,000 0.052 4.86 7,000 651,000 Rochester Nevada, USA 60,528,000 0.004 0.49 233,0
Slide 102: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2015 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) INFERRED RESOURCES Palmarejo Mexico 1,721,000 0.085 4.79 147,000 8,240,000 Rochester Nevada, USA 59,597,000 0.003 0.52 179,000 31,195,000 Kensington Alas
Slide 103: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2014 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) PROVEN RESERVES Palmarejo Mexico 1,089,000 0.043 3.37 46,000 3,670,000 Rochester Nevada, USA 89,077,000 0.004 0.56 346,000 49,786,000 Kensingto
Slide 104: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2014 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 417,000 0.062 4.48 26,000 1,870,000 Rochester Nevada, USA 72,228,000 0.003 0.45 21
Slide 105: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2014 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) INFERRED RESOURCES Palmarejo Mexico 2,065,000 0.116 4.98 240,000 10,286,000 Rochester Nevada, USA 96,039,000 0.003 0.42 263,000 40,789,000 Kensington Ala
Slide 106: 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 107: Board of Directors
Board of Directors Robert E. Mellor – Independent Chairman of the board of Monro Muffler/Brake, Inc. (auto service provider) since June 2017, and appointed Interim Chief Executive Officer in August 2020. Previously Mr. Mellor was lead independent director from April 2011 to June 2017 and a member of
Slide 108: Board of Directors (cont.)
Board of Directors (cont.) Jessica L. McDonald – Ms. McDonald has extensive leadership experience in both the public and private sectors and currently serves as a member of the Board of Directors of Hydro One Limited. She served as the President and Chief Executive Officer of BC Hydro and Power Auth
Slide 109: 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 CDE: NYSE Website www.coeur.com Contact Paul DePartout Director, Investor Relations investors@coeur.com NYSE: CDE 109 JC 2016