Coeur Mining, Inc. · NYSE:CDE
Coeur Mining — RBC Capital Markets Global Mining & Materials Conference 2018
75 slides from Coeur Mining's conference presentation, June 2018
Slide 1: RBC Capital Markets Global Mining & Materials Conference
RBC Capital Markets Global Mining & Materials Conference June 2018 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 company strategies, expectations regarding environmental, social and governance (“ESG”) initiatives, production, co
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: Who We Are
Who We Are Based in the U.S., Coeur Mining is one of the world’s largest primary silver producers, a significant producer of gold, and has repositioned its portfolio with a focus on sustainable, high-quality cash flow $1.5B market cap 1 $24M 90-day ADTV 1 K ENSINGTON S ILVERTIP $233M of liquidity 2
Slide 5: Our Strategic Objectives
Our Strategic Objectives Become “Leader of the Pack” Establish Low Cost Production in • Tremendous progress over the last five years Top Jurisdictions has made Coeur an attractive precious metals company • North America-focused, U.S.-centric • Quality growth, strong returns, operational portfolio co
Slide 6: Transformation Driven by High-Quality Growth
Transformation Driven by High-Quality Growth Organic Initiatives Complementary Portfolio Enhancements • Organizational overhaul • Acquired the Wharf gold mine from Goldcorp in 2015 • Investments to increase production scale • Acquired Paramount Gold & Silver Corp1 in 2015 and/or grade at Palmarejo,
Slide 7: Palmarejo: A Confluence of Strategic Successes
Palmarejo: A Confluence of Strategic Successes 2017 represented the culmination of synergistic M&A, development of higher- margin production, and high-return exploration • 2014: Renegotiated FNV Underground Transition and Grades gold stream agreement Silver grade (oz/t) Gold grade (oz/t) 5.62 (took
Slide 8: Wharf: A Case Study for Successful M&A
Wharf: A Case Study for Successful M&A Acquired in early 2015, Wharf has already generated a return on investment of approximately 20%1, driven by operational improvements, targeted investments in exploration, and several technical and modeling enhancements $13.9 ($1.7) Free Cash Flow2 $11.9 ($M) $7
Slide 9: A Transformed Portfolio with Improved Risk Profile
A Transformed Portfolio with Improved Risk Profile 2010 2018E3 6% 12% Palmarejo Rochester 26% 14% 36% Kensington Asset Mix 26.1M 47% 37.7M Wharf AgEqOz2 AgEqOz2 Silvertip 19% San Bartolomé 10% Other1 10% 19% U.S. 20% Mexico 46% Canada Geographic Mix 12% Bolivia 26% 52% Australia 2% Argentina 36% 6%
Slide 10: High-Quality Growth Generating Positive FCF
High-Quality Growth Generating Positive FCF1 Silver Equivalent2 Production Adjusted EBITDA4 (M oz) ($M) 34% 29% 37.7 35.1 21% 30.1 30.8 11% $203.3 26.3 $194.9 $117.7 $58.9 Adjusted EBITDA4 Silver Gold Lead Zinc Adjusted EBITDA margin4 2014 2015 2016 2017 2018E3 2014 2015 2016 2017 Capital Expenditur
Slide 11: Re-Scoped Mine Plan Doubles Rochester's NAV
Re-Scoped Mine Plan1 Doubles Rochester’s NAV A re-scoped mine plan and PEA incorporates the positive economic impact expected from the potential addition of HPGR technology to Rochester’s crushing circuit beginning in early 2019 2017 TR 2018 PEA Highlights of Expected HPGR Impact Mine Life 2031 2038
Slide 12: Improved Economics Expected at Kensington
Improved Economics Expected at Kensington Kensington’s updated technical report demonstrates the strong potential impact of a relatively small amount of high-grade mill feed on overall mine economics Highlights of Kensington Technical Report Continued Exploration Potential • 13% increase in expected
Slide 13: Significant Margin and Cash Flow Growth Expected
Significant Margin and Cash Flow Growth Expected Over the near- to medium-term, strong organic opportunities are expected to drive significant margin and cash flow growth 2017 Target / Potential Silvertip1 0 tpd mining rate 1,000 tpd Ramp-up to steady-state production 0 avg. annual AgEqOz1 productio
Slide 14: Outlook Conveys Quality Growth
Outlook Conveys Quality Growth Silver Equivalent Production Adjusted EBITDA1 (M oz) ($M) $355 51.3 48.1 $310 42.6 44.0 $315 39.4 45.8 $250 42.6 $240 $280 39.4 40.2 $220 36.0 $225 $205 $210 CAGR2 Total %Δ2 CAGR2 Total %Δ2 2014A - 2022P 8% 85% 2014A - 2022P 24% 469% 2017A - 2022P 7% 38% 2017A - 2022P
Slide 15: Balance Sheet Outlook
Balance Sheet Outlook Strong growth in EBITDA1 and FCF1 is expected to enable deleveraging, with total debt-to-EBITDA1 expected to be approximately 1.0x at the end of 2022 Assumptions Total Debt ($M) • Metal prices of $1350/oz Au, $17.50/oz Ag, $425 $1.40/lb Zn and $1.13/lb Pb $410 $415 $380 $360 $4
Slide 16: Disciplined, Near-Mine Exploration
Disciplined, Near-Mine Exploration… Coeur has accelerated its exploration activity as a result of encouraging drill results, particularly at Palmarejo and Kensington. Aggressive drilling efforts commenced at Silvertip during 4Q Total Exploration Investment 2018E1 Exploration Investment By Site ($M)
Slide 17: Generating Significant Reserve & Resource Additions
…Generating Significant Reserve & Resource Additions Each of the Company’s operations has shown year-over-year growth in reserves. Companywide measured and indicated resources grew 41% and inferred resources expanded 40% year-over-year +13.8 341.9 Proven and Probable Reserves +7.4 N/A (M AgEqOz1) +2
Slide 18: Strong and Flexible Balance Sheet
Strong and Flexible Balance Sheet Coeur successfully refinanced its 7.875% senior notes due 2021 with 5.875% senior notes due 2024 and established a $200 million revolver Total Debt Leverage Ratios1 ($M) 24% 5.5x $546.0 $414.0 3.4x 2.1x Total debt-to-LTM adjusted EBITDA2 1.3x Net debt-to-LTM adjuste
Slide 19: Continued Improvement in Credit Ratings
Continued Improvement in Credit Ratings • Since 2015, Coeur’s credit ratings have $M March 31, 2018 improved multiple notches 5.875% senior notes due 2024 245.3 Revolving credit facility 115.0 • The Company remains focused on preserving Capital lease obligations 53.7 its peer-leading credit profile
Slide 20: A Long History of Corporate Responsibility
A Long History of Corporate Responsibility “We have been doing ESG long before people were talking about ESG.” – Mitchell J. Krebs THE AIR PROTECT LEADING CORPORATE GOVERNANCE REDUCTION IN SPILLS DEVELOP LOCAL COMMUNITIES DELIVER SUSTAINABLE COMMUNITY PROGRAMS & INVESTMENTS: HEALTH, EDUCATION, ECONO
Slide 21: Looking Ahead
Looking Ahead • Silvertip – Commercial production expected to be achieved by mid-year – Milling rates anticipated to climb to 1,000 tonnes (1,100 tons) per day in 1Q 2019 – Updated NI 43-101 Technical Report anticipated during 2H • Rochester – De-commissioning of one crusher and installation of firs
Slide 22: Coeur Mining Is Uniquely Positioned
Coeur Mining Is Uniquely Positioned U.S.-listed, incorporated and based Stockholder-friendly corporate governance policies Balanced North American, U.S.-centric portfolio Attractive size and scale Platform and capabilities for quality growth Strong and flexible balance sheet Discipline
Slide 23: 2018 Guidance
2018 Guidance1 2018 Production Outlook Silver (K oz) Gold (oz) Zinc (K lbs) Lead (K lbs) AgEqOz2 (K oz) Palmarejo 6,500 – 7,100 110,000 – 115,000 - - 13,100 – 14,000 Rochester 4,200 – 4,700 45,000 – 50,000 - - 6,900 – 7,700 Kensington - 115,000 – 120,000 - - 6,900 – 7,200 Wharf - 85,000 – 90,000 - -
Slide 24: Executive Compensation and Governance
Executive Compensation and Governance NYSE: CDE 24 JC 2016
Slide 25: Significantly Improved Corporate Governance Profile
Significantly Improved Corporate Governance Profile Corporate Governance Enhancements Since 2010 2010 2018 Independent Board Chairman X ✔ Entire Board of Directors is independent other than CEO X ✔ Gender diversity on the Board X ✔ Majority voting standard for uncontested Director elections X ✔ Robu
Slide 26: 2017 CEO Compensation Tied to Stockholder Returns
2017 CEO Compensation Tied to Stockholder Returns 60% of compensation linked to stock performance (Based 100% on Company Performance) NYSE: CDE 26 JC 2016
Slide 27: 2018 Incentive Plan Aligned with Strategic Objectives
2018 Incentive Plan Aligned with Strategic Objectives TRIFR1 % Reduction (with potential modifier PROTECT for top/bottom quartile performance vs. top tier U.S. metals companies) AIP2 15% % Reduction in Significant Spills DEVELOP Three-Year Growth in Reserves and PSU3 50% Measured & Indicated Resourc
Slide 28: Diverse Board Led by Independent Chair
Diverse Board Led by Independent Chair • Nine out of ten Directors are independent (all except CEO); all four main committees comprised of independent directors only • Two new directors appointed in February 2018 having skills and experiences that complement other directors • Balance of newer and lo
Slide 29: Appendix
Appendix NYSE: CDE 29 JC 2016
Slide 30: Industry-Leading Safety Performance
Industry-Leading Safety Performance In 2017, Coeur achieved the National Mining Association CORESafety certification Since 2012, the Company’s injury frequency rates are significantly below industry averages Lost-Time Injury Frequency Rate Total Reportable Injury Frequency Rate Industry average1 Ind
Slide 31: Impact of Select U.S. Tax Reforms
Impact of Select U.S. Tax Reforms Recent U.S. tax reform is not expected to meaningfully impact near-term cash flows. In the long-term, Coeur expects to benefit from these reforms Once U.S. NOLs are used, Coeur expects to benefit Lower statutory corporate tax rate from a lower tax rate on future tax
Slide 32: Tax Rates by Jurisdiction
Tax Rates by Jurisdiction • As of year-end 2017, Coeur had U.S. NOLs of $370 million • Statutory corporate tax rates by country – United States: 21% – Mexico: 30% – Canada: 27% • Corporate income and mining taxes by jurisdiction – Nevada – Net Proceeds Tax is 5% – South Dakota – Severance Tax is 10%
Slide 33: Building on 2017's Exploration Success
Building on 2017’s Exploration Success 2017 exploration program highlights: 2018 expected exploration priorities include: • $41.9M of total exploration investment • Targeting $40M - $50M2 – $30.3M of expense, $11.6M of capitalized – $20M - $25M of both exploration expense and capitalized exploration
Slide 34: Capital Expenditures Outlook
Capital Expenditures Outlook Capital Expenditures by Mine 2018 capital expenditures are expected to total (% companywide total) $120M - $140M1 • $90M - $100M of sustaining capital expenditures, 13% 22% including $20M - $25M of capitalized exploration 25% 6% 32% • Palmarejo ($30M - $35M), Kensington
Slide 35: Silvertip
Silvertip Ownership 100% Claims 90,156 net acres Type Underground Silvertip British Columbia, Canada Crushing, grinding, flotation Processing processing, concentrate thickening Metals Lead concentrate, zinc concentrate 2018E1 Production Share of 2017 R&R3 2017 Reserves and Resources3 (AgEqOz2) (AgEq
Slide 36: Overview of Initial Silvertip Mine Plan
Overview of Initial Silvertip Mine Plan1 Operating Parameters2 Costs Assumptions2 Units LOM Units LOM Total ore production M tonnes 2.7 Pre-production capex US$M $25 - $35 Initial mine life Years 7.5 Sustaining capex US$M $55 - $65 Average production rate tpd 1,000 Operating costs Average annual pro
Slide 37: Notes to Initial Silvertip Mine Plan
Notes to Initial Silvertip Mine Plan Notes to the Silvertip summary mine plan: (a) This economic analysis is preliminary in nature and is based upon the current resource estimate as set out in this presentation which includes inferred mineral resources. Inferred resources are considered too speculat
Slide 38: Palmarejo
Palmarejo Ownership 100% Claims 112,520 net acres Type Underground Crushing, grinding, flotation, CIL, Processing Merrill-Crowe precipitation, refining Metals Silver and gold doré Mine life ~6 years Palmarejo Chihuahua, Northern Mexico 2018E1 Production Share of 2017 R&R3 2017 Reserves and Resources
Slide 39: Palmarejo (cont.)
Palmarejo (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $11.21 $9.76 Operating cash flow $9.68 $8.01 Capital expenditures $10.11 $7.54 $8.87 $8.68 $52.1 $50.5 $6.64 $6.94 2,346 38 2,013 31 1,908 29 30 $27.3 1,531 1,457 24 $18.8 $18.5 $11.2 $9.3 $6.2 $5.5 $
Slide 40: Rochester
Rochester Ownership 100% Claims 16,494 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 ~21 years Nevada, U.S. 2018E1 Production Share of 2017 R&R3 2017 Reserves and Resources3 (AgEqO
Slide 41: Rochester (cont.)
Rochester (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $13.69 Operating cash flow $13.54 $13.33 $12.57 $12.77 Capital expenditures $26.1 $12.56 $12.46 $11.81 $11.89 $11.37 1,361 $13.8 1,127 1,156 19 1,157 $10.6 1,070 $9.7 $6.8 $5.7 11 11 11 10 $3.4 $2.6 $
Slide 42: Summary of Rochester PEA
Summary of Rochester PEA1 Highlights 2017 TR 2018 PEA Proven and probable reserves • Re-scoped mine plan and PEA incorporate the Mineralized material tons K tons 244,804 Mineralized material gold grade oz/t 0.003 anticipated economic benefit from: Mineralized material silver grade oz/t 0.46 Measured
Slide 43: What is HPGR?
What is HPGR? High pressure grinding rolls are relatively new to precious metals operations, although the technology has been proven in processing other materials • HPGRs have been used in the aggregates sector for decades, though early challenges associated with surface wear of the rollers delayed
Slide 44: Notes to Rochester's Re-Scoped Mine Plan and PEA
Notes to Rochester’s Re-Scoped Mine Plan and PEA (a) 2018 PEA is effective December 31, 2017 and filed March 5, 2018 and the 2017 Technical Report is effective December 31, 2016. (b) Assumed metals prices for estimated Mineral Resources included in the 2018 Technical Report were $20.00 per ounce of
Slide 45: Wharf
Wharf Ownership 100% Claims 7,852 net acres Type Open pit and heap leach Crushing, “on-off” heap leaching, Processing spent ore neutralization, carbon absorption/desorption Wharf South Dakota, U.S. Metals Electrolytic cathodic sludge Mine life ~7 years 2018E1 Production Share of 2017 R&R3 2017 Reser
Slide 46: Wharf (cont.)
Wharf (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $870 Operating cash flow Capital expenditures $737 $719 $670 $682 $17.2 $15.0 27 26 $8.6 $8.8 21 21 18 $3.1 $3.3 $0.9 $1.5 $0.3 ($1.4) 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 1Q 2017 2Q 2017 3Q 2017 4Q 20
Slide 47: Kensington
Kensington Ownership 100% Claims 12,336 net acres Type Underground Processing Crushing, grinding, flotation Kensington processing Alaska, U.S. Metals Gold concentrate Mine life ~5 years 2018E1 Production Share of 2017 R&R3 2017 Reserves and Resources3 (AgEqOz2) (AgEqOz2) Grade (oz/t) Ounces (contain
Slide 48: Kensington (cont.)
Kensington (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $1,010 Capital expenditures $952 $946 $884 $896 $16.8 35 $12.0 $11.4 26 28 $10.1 26 26 $9.3 $8.6 $7.0 $5.5 $4.5 $4.6 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 1Q 2017 2Q 2017 3Q 201
Slide 49: Non-GAAP to U.S. GAAP Reconciliation
Non-GAAP to U.S. GAAP Reconciliation Unaudited Adjusted Net Income (Loss) ($ thousands) 1Q 2018 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2017 2016 2015 2014 Net income (loss) $1,241 ($1,319) $7,625 ($16,652) ($10,955) $18,663 $55,352 ($367,183) ($1,186,874) Income (loss) from discont. ops., net of tax (550)
Slide 50: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Adjusted EBITDA ($ thousands) 1Q 2018 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2017 2016 2015 2014 Net income (loss) $1,241 ($1,319) $7,625 ($16,652) ($10,955) $18,663 $55,352 ($367,183) ($1,186,874) Income (loss) from discont. ops., net of tax (550) 12,
Slide 51: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Free Cash Flow and Cash Flow From Operating Activities per Share Free Cash Flow, Consolidated ($ thousands) 1Q 2018 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2017 2016 2015 2014 Cash flow from operating activities $15,541 $197,160 $91,811 $37,308 $24,103
Slide 52: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Leverage Ratios (for Continuing Operations in the Period Noted) LTM Adjusted EBITDA Consolidated Debt ($ thousands) 1Q 2018 3Q 2015 ($ thousands) 1Q 2018 3Q 2015 Net income (loss) ($6,683) ($1,174,213) Cash and cash equivalents $159,643 $205,708
Slide 53: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Amortization per Ounce ($ thousands, except per ounce amounts) 1Q 2018 4Q 2017 3Q 2017 2Q 2017 1Q 2017 Amortization $30,530 $44,471 $32,112 $30,433 $38,368 Consolidated silver equivalent ounces sold (average spot) 10,066,759 13,248,337 9,698,654
Slide 54: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended March 31, 2018 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $47,421 $29,136 $76,
Slide 55: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited Year ended December 31, 2017 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $219,920 $13
Slide 56: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended December 31, 2017 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $58,775
Slide 57: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended September 30, 2017 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $49,669
Slide 58: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended June 30, 2017 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $48,325 $29,
Slide 59: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended March 31, 2017 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $63,151 $32
Slide 60: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited Year ended December 31, 2016 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $117,419 $11
Slide 61: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited Year ended December 31, 2015 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.S. GAAP) $170,899 $12
Slide 62: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited Year ended December 31, 2014 Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Endeavor Total Kensington Total Costs applicable to sales, including amortization (U.S. GAAP) $256,707 $112,252 $8,514
Slide 63: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited All-in Sustaining Costs ($ thousands, except per ounce amounts) 1Q 2018 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2017 2016 2015 2014 Costs applicable to sales $99,340 $440,260 $121,983 $101,557 $102,229 $114,490 $335,375 $403,827 $388,286 Treatment and r
Slide 64: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) All-in Sustaining Costs for 2018 Guidance Unaudited Per 60:1 Silver Equivalent Ounce Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Silvertip Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.
Slide 65: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) All-in Sustaining Costs for 2018 Guidance Unaudited Per Spot Silver Equivalent Ounce Silver Gold ($ thousands, except per ounce amounts) Palmarejo Rochester Silvertip Total Kensington Wharf Total Total Costs applicable to sales, including amortization (U.
Slide 66: Average Spot Equivalence
Average Spot Equivalence Average Spot Prices 1Q 2018 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2017 2016 2015 2014 Average silver spot price per ounce $16.77 $17.05 $16.73 $16.84 $17.21 $17.42 $17.14 $15.68 $19.08 Average gold spot price per ounce $1,329 $1,257 $1,275 $1,278 $1,257 $1,219 $1,251 $1,160 $1,266
Slide 67: Reserves and Resources
Reserves and Resources 2017 Proven and Probable Mineral Reserves Grade Contained Location Short tons Silver (oz/t) Gold (oz/t) Lead (%) Zinc (%) Silver (oz) Gold (oz) Lead (lbs) Zinc (lbs) PROVEN RESERVES Palmarejo Mexico 1,571,000 3.81 0.073 5,978,000 115,000 Rochester Nevada, USA 195,724,000 0.45
Slide 68: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Silver (oz/t) Gold (oz/t) Lead (%) Zinc (%) Silver (oz) Gold (oz) Lead (lbs) Zinc (lbs) MEASURED RESOURCES Palmarejo Mexico 629,000 3.07 0.051 1,928,000 32,000 Roches
Slide 69: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Inferred Mineral Resources Grade Contained Location Short tons Silver (oz/t) Gold (oz/t) Lead (%) Zinc (%) Silver (oz) Gold (oz) Lead (lbs) Zinc (lbs) INFERRED RESOURCES Palmarejo Mexico 7,336,000 4.23 0.050 31,061,000 369,000 Rochester Nevada, USA 131,570,000 0.4
Slide 70: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Proven and Probable Mineral Reserves Grade (oz/ton) Ounces (contained) Location Short tons Silver Gold Silver Gold PROVEN RESERVES Palmarejo Mexico 1,569,000 4.44 0.080 6,971,000 126,000 Rochester Nevada, USA 143,686,000 0.48 0.004 68,369,000 503,000 Kensington Al
Slide 71: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Measured and Indicated Mineral Resources (excluding Reserves) Grade (oz/ton) Ounces (contained) Location Short tons Silver Gold Silver Gold MEASURED RESOURCES Palmarejo Mexico 818,000 3.20 0.061 2,618,000 50,000 Rochester Nevada, USA 39,732,000 0.59 0.003 23,281,0
Slide 72: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Inferred Mineral Resources Grade (oz/ton) Ounces (contained) Location Short tons Silver Gold Silver Gold INFERRED RESOURCES Palmarejo Mexico 4,726,000 4.35 0.055 20,540,000 258,000 Rochester Nevada, USA 67,778,000 0.52 0.003 35,554,000 178,000 Kensington Alaska, U
Slide 73: 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 74: Board of Directors
Board of Directors Robert E. Mellor – Former Chairman, Chief Executive Officer, and President of Building Materials Holding Corporation (distribution, manufacturing, and sales of building materials and component products) from 1997 to January 2010, director from 1991 to January 2010; member of the b
Slide 75: 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 Courtney R. B. Lynn VP, Investor Relations & Treasurer investors@coeur.com NYSE: CDE 75 JC 2016
Coeur Mining — RBC Capital Markets Global Mining & Materials Conference 2018 on 6ix