Coeur Mining, Inc. · NYSE:CDE

Coeur Mining — Raymond James Institutional Investor Conference 2014

55 slides from Coeur Mining's conference presentation, Mar 4, 2014

  1. Slide 1: Raymond James Institutional Investor Conference

    Raymond James Institutional Investor Conference Peter C. Mitchell, Sr. Vice President and Chief Financial Officer JW Marriot Grande Lakes, Orlando Palazzo A: 4:35 p.m. local time, March 4, 2014

  2. Slide 2: Cautionary Statements

    Cautionary Statements This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated production, costs, expenses, capital and exploration expenditures, growth, cash flow, rates of return,

  3. Slide 3: Maximizing Opportunities to Drive Returns

    Maximizing Opportunities to Drive Returns 2 of the Top 10 Largest Primary Silver Mines Significant Gold Production Largest Well-Capitalized with U.S.-based Strong Liquidity Silver Producer Current Assets Provide Diversified Production Base & Strong Operating Attractive, Value- Cash Flow Creating Gro

  4. Slide 4: Expanding Portfolio of Precious Metals Assets

    Expanding Portfolio of Precious Metals Assets Silver Ounces Gold Ounces Total1 Kensington Mine, Alaska (000s) (000s) 2013: 114,821 oz Au Proven & Probable Reserves 255,396 2,233 2014E: 105,000 - 112,000 oz Au Measured & Indicated 386,297 2,461 Resources Inferred Resources 96,423 1,058 Rochester Mine

  5. Slide 5: Diverse Base of Cash-Flowing Assets and Development Projects

    Diverse Base of Cash-Flowing Assets and Development Projects Deploying capital in high-return projects enables cycle of cash flow generation Operating Mines Time Needed to Provide Cash Flow Develop New to Fund Drilling Assets Robust Early-Stage Exploration Projects Program Frees up Capital Increases

  6. Slide 6: Returns-Driven Approach Differentiates Coeur

    Returns-Driven Approach Differentiates Coeur Coeur’s Strategy Standard Business Model  Assets generate > 15% IRR  Return expected to compensate  Jurisdictions with low political risk investors for level of risk  Diverse asset base  High risk = high expected return  Low financial leverage; stro

  7. Slide 7: 2014 Goals and Strategic Priorities

    2014 Goals and Strategic Priorities Attain New Heights in  Empower employees to own success through standardized systems and aligned incentives Safety, Environmental &  Focus on establishing and maintaining trust through sustained engagement with Community Relations stakeholders  Share best pract

  8. Slide 8: Substantial and Sustainable Annual Production Base

    Substantial and Sustainable Annual Production Base 2013 Silver Production by Mine (millions of ounces) 2013 Gold Production by Mine 0.7 2.8 Palmarejo Palmarjo 7.6 San Bartolomé 114,821 116,536 Rochester Rochester 5.9 Endeavor Kensington 30,860 Silver Production Gold Production 262,217 220,000- 19.1

  9. Slide 9: Financial Highlights

    Financial Highlights Net Metal Sales Flexible Balance Sheet $1,021 $895 Liquidity $100.0 $206.7 $ in millions $746 $515 Debt $306.1 $2.5 $300 $0 $50 $100 $150 $200 $250 $300 $ in millions Long-term Debt Revolving Credit Facility 2009 2010 2011 2012 2013 Short-term Debt Cash & Cash Equivalents EBITDA

  10. Slide 10: Summary of Precious Metals Fundamentals

    Summary of Precious Metals Fundamentals  Primary drivers behind fall in precious metals prices are QE tapering, improved economic outlook, and more attractive returns from other asset classes  In contrast to gold ETFs, where holdings declined to a 3 year low, silver ETF holdings rose throughout th

  11. Slide 11: Silver Supply & Demand Overview

    Silver Supply & Demand Overview World Silver Supply World Silver Demand Mine Production Net Government Sales Industrial Applications Photography Scrap Producer Hedging Jewelry Silverware Coins & Medals Producer De-Hedging Implied Net Disinvestment Implied Net Investment 1,200 1,200 1,000 1,000 800 8

  12. Slide 12: Update on Silver End Market Demand

    Update on Silver End Market Demand 2003 Actual 2013 Forecast Net Investment Producer 4% De-hedging 2% Investment Jewelry & Industrial 24% Net Industrial Silverware 42% Producer 45% 31% De-hedging Jewelry & 3% Silverware Photography 23% 22% Photography 5% Practical Applications of Silver  Solar pane

  13. Slide 13: Key Investment Highlights

    Key Investment Highlights Well-capitalized with strong liquidity and conservative capital deployment Balance Sheet Rebalancing geopolitical Health mix and new source of anticipated stable cash flow through Coeur Asset Capital Value-Creating Growth Diversity Increased reserves and resources; large ex

  14. Slide 14: Appendix

    Appendix MINING: NYSE: CDE

  15. Slide 15: Market Highlights

    Market Highlights Research Analyst Coverage Top Stockholders Garrett Nelson, BB&T Capital Markets Donald Smith & Co. Andrew Kaip, BMO BlackRock Institutional Trust Company Graeme Jennings, Cormark Van Eck Associates Corporation Jorge Beristain, Deutsche Bank The Vanguard Group Dimensional Fund Advis

  16. Slide 16: Cash Flow Protection Strategy

    Cash Flow Protection Strategy  Coeur has implemented a targeted cash flow protection program with the following objectives:  Maintain simplicity  Protect downside metal price exposure but maintain upside exposure  Purchase put options to protect some of expected production against a sharp drop i

  17. Slide 17: 2014 Guidance

    2014 Guidance Silver Production Gold Production 7,603 6,950 Ounces in thousands 5,941 5,850 114,821 108,500 116,536 91,000 4,250 Ounces 2,799 30,860 29,500 669 550 Palmarejo San Bartolome Rochester Endeavor Kensington Palmarejo Rochester 2013 Actual 2014 Guidance Midpoint 2013 Actual 2014 Guidance M

  18. Slide 18: Capital Spending Significantly Reduced

    Capital Spending Significantly Reduced $400 $350 $300 $250 $ in millions $200 $150 $100 $50 $0 2008 2009 2010 2011 2012 2013 2014E 2014E represents the midpoint of capital expenditure guidance published by Coeur on February 20, 2014. NYSE: CDE 18

  19. Slide 19: Substantial Increase in Mineral Reserves and Resources

    Substantial Increase in Mineral Reserves and Resources Total Coeur Proven & Probable Reserves Total Coeur Silver Reserves & Resources 249 millions of tons millions of ounces 145 2009 2010 2011 2012 2013 Proven & Probable Reserves Measured & Indicated Resources Inferred Resources 2012 Year End 2013 Y

  20. Slide 20: 4Q 2013 Operational Highlights and 2014 Outlook

    4Q 2013 Operational Highlights and 2014 Outlook Palmarejo, Mexico San Bartolomé, Bolivia Rochester, Nevada Kensington, Alaska •Silver production increased 4% •4Q production and cash •Silver production 20% higher •4Q production increased 29% from 3Q operating costs1 in-line with 3Q than 3Q and gold p

  21. Slide 21: Palmarejo: Improving Operational Consistency and Cash Flow

    Palmarejo: Improving Operational Consistency and Cash Flow $15.55 $13.39 $14.97 $12.88 $12.89 $13.73 $11.36 $10.36 $11.51 $9.89 $10.90 $7.55 $13.66 $4.80 $3.75 $2.20 $3.25 $2.79 $0.65 $(1.16) $(0.85) $(2.13) $(2.27) $(3.68) 2.7 2.4 2.5 2.4 2.3 2.0 1.9 2.0 1.7 1.8 1.6 1.6 35,486 ounces 33,389 34,108

  22. Slide 22: San Bartolomé: Expect Continued Stable Production in 2014

    San Bartolomé: Expect Continued Stable Production in 2014 $15.26 $14.14 $13.97 $13.91 $13.06 $13.25 $12.43 $11.34 $10.66 $10.65 $13.41 $13.27 $12.89 $13.11 $9.52 $10.08 $12.80 $12.13 $11.05 $9.32 $9.18 $10.21 $9.13 $8.73 2.1 2.0 1.7 1.7 1.6 ounces 1.5 1.5 1.4 1.5 1.5 1.5 1.3 1Q'11 2Q'11 3Q'11 4Q'11

  23. Slide 23: Kensington: Significant Production Growth and Lower Costs in 2013

    Kensington: Significant Production Growth and Lower Costs in 2013 $2,709 $1,807 $1,348 $1,298 $1,065 $989 $924 $973 $2,587 $1,055 $1,115 $988 $747 $1,469 $1,129 $1,234 $1,126 $1,002 $890 $667 $874 $676 $856 $871 37,404 28,717 29,049 25,758 25,687 24,391 25,206 23,676 23,162 21,572 ounces 13,299 7,44

  24. Slide 24: Rochester: Major Capital Projects Completed; Higher Production Expected

    Rochester: Major Capital Projects Completed; Higher Production Expected in 2014 $36.71 $37.99 $23.35 $23.50 $35.83 $17.08 $16.87 $15.30 $31.71 $15.62 $12.34 $16.41 $15.68 $15.76 $13.54 $14.75 $15.76 $15.44 $11.83 $9.83 $9.58 $10.28 $4.34 $2.17 819 828 844 12,055 712 713 10,120 10,599 648 595 8,742 9

  25. Slide 25: Non-GAAP to U.S. GAAP Reconciliation: EBITDA

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) EBITDA EBITDA Reconciliation FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 Net income (loss) ($650,563) $48,677 $93,499 ($91,308) ($27,066) (Gain) loss on sale of discontinued operations, -- -- -- 2,095 (25,537) net of income taxes (Income) loss from discon

  26. Slide 26: Non-GAAP to U.S. GAAP Reconciliation: All-In Sustaining Costs

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) All-In Sustaining Costs in thousands except per ounce costs FY 2013 4Q 2013 3Q 2013 2Q 2013 1Q 2013 FY 2012 Costs applicable to sales (U.S. GAAP) $463,663 $100,227 $131,728 $142,924 $88,784 $454,562 Treatment and refining costs 10,462 2,815 2,590 1,95

  27. Slide 27: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Year ended December 31, 2013 Bartolomé Total cash operating cost (Non-U.S. GAAP) $16,919 $77,308 $109,055 $65,132 $-- $8,077

  28. Slide 28: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended December 31, 2013 Bartolomé Total cash operating cost (Non-U.S. GAAP) $1,300 $19,647 $27,947 $22,584 $--

  29. Slide 29: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended September 30, 2013 Bartolomé Total cash operating cost (Non-U.S. GAAP) $5,354 $19,559 $28,707 $21,329 $--

  30. Slide 30: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended June 30, 2013 Bartolomé Total cash operating cost (Non-U.S. GAAP) $6,639 $19,636 $25,819 $12,450 ($16) $2

  31. Slide 31: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended March 31, 2013 Bartolomé Total cash operating cost (Non-U.S. GAAP) $3,618 $18,465 $26,582 $8,769 $33 $2,5

  32. Slide 32: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Year Ended December 31, 2012 Bartolomé Total cash operating cost (Non-U.S. GAAP) $10,958 $69,771 $111,499 $26,959 $16,094 $1

  33. Slide 33: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended December 31, 2012 Bartolomé Total cash operating cost (Non-U.S. GAAP) $11,732 $18,765 $30,588 $1,795 ($16

  34. Slide 34: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended September 30, 2012 Bartolomé Total cash operating cost (Non-U.S. GAAP) $6,878 $18,504 $31,660 $7,853 $4,4

  35. Slide 35: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended June 30, 2012 Bartolomé Total cash operating cost (Non-U.S. GAAP) ($2,009) $16,249 $29,083 $7,008 $5,942

  36. Slide 36: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended March 31, 2012 Bartolomé Total Cash Operating Cost (Non-U.S. GAAP) ($5,643) $16,253 $20,168 $10,303 $5,70

  37. Slide 37: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended December 31, 2011 Bartolomé Total Cash Operating Cost (Non-U.S. GAAP) ($8,743) $68,277 $96,234 $31,978 $1

  38. Slide 38: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended September 30, 2011 Bartolomé Total Cash Operating Cost (Non-U.S. GAAP) ($2,607) $19,120 $25,000 $12,912 $

  39. Slide 39: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended June 30, 2011 Bartolomé Total Cash Operating Cost (Non-U.S. GAAP) $(8,719) $15,211 $23,789 $1,446 $3,922

  40. Slide 40: Non-GAAP to U.S. GAAP Reconciliation

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Cash Operating Costs (In thousands except ounces and per ounce costs) San Palmarejo Kensington Rochester Martha Endeavor Total Three months ended March 31, 2011 Bartolomé Total Cash Operating Cost (Non-U.S. GAAP) $8,311 $15,615 $23,410 $3,429 $4,399 $

  41. Slide 41: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales Silver Gold (thousands except per ounce costs) San Total Full-year ended December 31, 2013 Palmarejo Rochester Endeavor Total Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $322,814 $106,39

  42. Slide 42: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales (thousands except per ounce costs) San Three months ended December 31, 2013 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $75,875,187 $25,621,471 $18,657,839 $

  43. Slide 43: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales (thousands except per ounce costs) San Three months ended June 30, 2013 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $90,776,146 $37,756,460 $25,378,504 $2,90

  44. Slide 44: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales (thousands except per ounce costs) San Three months ended December 31, 2012 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $72,477,667 $19,367,784 $25,228,080 $

  45. Slide 45: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales (thousands except per ounce costs) San Three months ended June 30, 2012 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $105,286,508 $26,842,432 $22,811,578 $4,1

  46. Slide 46: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales thousands except per ounce costs) San Three months ended December 31, 2011 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $89,604,078 $27,368,489 $5,355,775 $1,

  47. Slide 47: Non-GAAP to U.S. GAAP Reconciliation: Costs Applicable to Sales

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Costs Applicable to Sales thousands except per ounce costs) San Three months ended June 30, 2011 Palmarejo Rochester Endeavor Kensington Bartolomé Costs applicable to sales, including amortization (U.S. GAAP) $79,552,920 $19,308,200 $4,692,837 $4,137,

  48. Slide 48: Non-GAAP to U.S. GAAP Reconciliation: Co-Product Cash Cost

    Non-GAAP to U.S. GAAP Reconciliation (unaudited) Co-Product Cash Cost Per Ounce for Full-Year 2013 Co-Product Cash Cost Per Ounce for Full-Year 2012 Palmarejo Rochester Palmarejo Rochester Total cash operating costs (in thousands) $178,965 $109,263 Total cash operating costs (in thousands) $187,195

  49. Slide 49: External Growth - Strategic Investments

    External Growth - Strategic Investments  Apogee Silver (Pulacayo-Paca project, Bolivia and Cachinal project, Chile; 7.6% ownership interest):  Environmental Impact Assessment approved by Bolivia’s Ministry of Environment and Water  Caracara Silver (Princesa project, Peru; 3.2% ownership interest)

  50. Slide 50: Coeur's Mineral Reserves 2013

    Coeur’s Mineral Reserves 2013 Grade (oz/ton) Ounces (contained) Year-end 2013 Location Short tons Silver Gold Silver Gold Proven Reserves Rochester Nevada, USA 132,188,000 0.53 0.004 69,915,000 551,000 Martha Argentina - - - - - San Bartolomé Bolivia 1,206,000 2.87 - 3,456,000 - Kensington Alaska, U

  51. Slide 51: Coeur's Measured and Indicated Mineral Resources 2013

    Coeur’s Measured and Indicated Mineral Resources 2013 (Excluding Reserves) Grade (oz/ton) Ounces (contained) Year-end 2013 Location Short tons Silver Gold Silver Gold Measured Resources Rochester Nevada, USA 66,190,000 0.45 0.003 29,860,000 186,000 Martha Argentina — — — — — San Bartolomé Bolivia —

  52. Slide 52: Coeur's Inferred Mineral Resources 2013

    Coeur’s Inferred Mineral Resources 2013 Grade (oz/ton) Ounces (contained) Year-end 2013 Location Short tons Silver Gold Silver Gold Inferred Resources Rochester Nevada, USA 37,365,000 0.62 0.003 23,295,000 101,000 Martha Argentina 204,000 4.75 0.005 969,000 1,000 San Bartolomé Bolivia 3,683,000 1.26

  53. Slide 53: Executive Leadership

    Executive Leadership Mitchell J. Krebs – President and Chief Executive Officer. Mr. Krebs joined Coeur in 1995 after spending several years in the investment banking industry in New York. Mr. Krebs has held various positions in the corporate development department, including Senior Vice President of

  54. Slide 54: 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 boa

  55. Slide 55: Contact Information

    Contact Information Head Office: Coeur Mining, Inc. 104 S. Michigan Ave, Suite 900 Chicago, Illinois 60603 Main Tel: (312) 489-5800 Stock Tickers: CDE: NYSE Warrant Tickers: CDE.WS: NYSE; CDM.WT: TSX Website: www.coeur.com Bridget Freas Donna Mirandola Director, Investor Relations Director, Corporat

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