Slide 1: 2009 Full Year Results
2009 Full Year Results February 25, 2010 1
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward‐looking statements within the meaning of securities legislation in the United States, Canada, and Australia, including statements regarding anticipated operating results. Such statements are subject to numerous assumptions and uncertainties, ma
Slide 3: 2009 Highlights
2009 Highlights • 2009 silver production of 17.7 million ounces, an all‐time company high, up 47.3% over 2008 • Gold production of 72,112 ounces, up 56.4% from 2008 • Year‐end mineral reserves of 269 million ounces of silver and 2.9 million ounces of gold, representing 9% and 26% increases, respecti
Slide 4: Operations Update
COEUR i) “4 Operations Update
Slide 5: Palmarejo Entering First Full Year of Operations
Palmarejo Entering First Full Year of Operations • Expect 2010 production of 7.9 million oz of silver and 109,000 oz of gold at average cash operating cost of under $2.50/oz of silver • 50% increase in silver reserves and 54% increase in gold reserves in 20091 • Silver recovery improved from mid 50’
Slide 6: San Bartolomé-Building Consistency
San Bartolomé‐Building Consistency • Year end proven and probable reserves of 120 million ounces • Milling and processing improvements underway • Optimizing ore washing & screening • Improving mill feed grade • Recovery rates continue to exceed budgeted levels 6
Slide 7: Expected 3Q Start-up at Kensington
Expected 3Q Start‐up at Kensington • Expect 40,000 oz of gold production in 2010 • Year end proven/probable reserves of 1.5 million gold oz • Construction of pipeline to tailings facility progressing • Commissioning of processing plant underway • Onsite worker camp nearing completion Approximately 4
Slide 8: Expected 3Q Start-up at Kensington
Expected 3Q Start‐up at Kensington The coarse fill of the embankment has been completed to its final elevation of 690 feet 8
Slide 9: Expected 3Q Start-up at Kensington
Expected 3Q Start‐up at Kensington New camp completed and occupancy permit issued 9
Slide 10: Planned Rochester Resumption of Mining
Planned Rochester Resumption of Mining • New reserves of 25.9 million Ag oz and 233,000 Au oz • 6 years of incremental production beginning 2011: • Average 2.5 million silver oz/yr • Average 33,000 gold oz/yr • Future upside potential • M&I of 54.8 million silver oz • M&I of 409,000 gold oz • Residu
Slide 11: Cerro Bayo & Martha
Cerro Bayo & Martha • Continue to advance rationalization of smaller mines • Martha produced 3.7 million ounces of silver during 2009 at an average cash operating cost of $6.19 per ounce, representing a record year for the operation • Exploration activities at Cerro Bayo during 2009 totaled $3.2 mil
Slide 12: Exploration Update
COEUR i) “4 Exploration Update
Slide 13: Mineral Reserve and Resource Growth
Mineral Reserve and Resource Growth Gold (thousands of ounces) Silver (millions of ounces) 89 1,312 1,164 67 90 236 1,181 1,227 181 1,875 132 1,387 2,871 248 269 2,275 216 1,475 2007 2008 2009 2007 2008 2009 Proven & Probable Reserves Proven & Probable Reserves Measured and Indicated Resources Measu
Slide 14: Exploration Priorities
Exploration Priorities • 2009 total exploration spend was $18.9 million • About 80% of that budget was devoted to operating properties in the US, Chile, Argentina, and Mexico • $17.9 million in exploration in 2010 as heavy focus on organic growth continues at properties such as: • Palmarejo ($9.2 mi
Slide 15: Kensington Exploration 3D View
Kensington Exploration 3D View 15
Slide 16: Kensington-Kimberly Plan View
Kensington‐Kimberly Plan View Eas t Vein Solid Kimberly Vein at Kensington, Alaska 16
Slide 17: High Grade Kimberly Core
COFTIR Mineralized Interval (feet) Assays Hole ID. (oz/ton) From To Length True Au KMB-001 120.3 129.0 8.7 4.8 0.144 144.0 149.0 5.0 2.8 0.462 KMB-007 68.0 101.5 33.5 26.9 0.322 Incl. 88.0 94.8 6.8 5.5 1.293 KMB-013 187.5 192.5 5.0 2.1 0.335 445 456 11.0 4.6 0.536
Slide 18: Palmarejo-Guadalupe View 3D looking ENE
Palmarejo‐ Guadalupe View 3D looking ENE • Approximately 40% increase in both silver and gold reserves in expanding Palmarejo district Guadalupe • Mine plan prepared Norte by Coeur and consultant Las Animas engineering firm • Development planned for 2010 Guadalupe Main Guadalupe Vein at Palmarejo, M
Slide 19: Additional Targets within Palmarejo District
Additional Targets within Palmarejo District District with significant upside potential, $4.5 million budget for 2010 follow up work 19
Slide 20: Joaquin Exploration Phase 3
Joaquin Exploration Phase 3 • Joaquin is located about 80 kilometers north of Martha in Argentina 20
Slide 21: Joaquin Exploration-La Negra
Joaquin Exploration‐La Negra Mineralized Interval (Meters) Assays Hole I.D. From To Length True Au g/t Ag g/t DDJ-36 10,8 24,2 13,4 11,4 0,06 101 Incl 13,7 23,4 9,7 8,2 0,05 131 40,4 77,1 36,7 31,4 0,17 51 Incl 40,4 44,0 3,6 3,1 0,07 124 Incl 70,5 76,0 5,5 4,7 0,81 103 86,6 87,4 0,8 0,7 2,12 111 DDJ
Slide 22: Joaquin New High Grade North-South Structure
Joaquin New High Grade North‐South Structure High grades in North/ South trending structure; open to North 400 M Includes 3.3 m at 7,752 g/t Au and 1.17 g/t Au from 22.2m to 25.5m. Includes 4.15 m at 7,584 g/t Ag and 0.96 g/t Au from25.0 to 29.15 m. 22
Slide 23: Financial Update
COEUR i) “4 Financial Update
Slide 24: Balance Sheet Update
Balance Sheet Update (in millions) As of 12/31/08 Current % Change Cash & Equivalents $29 $75 +158% 1.25% Converts $180 $3 ‐98% 3.25% Converts $230 $148 ‐36% Floating Rate Notes $50 $0 ‐100% Senior Unsecured Notes $0 $100 ‐‐ MIC Gold Lease Facility $19 $19 ‐‐ FN Gold Royalty $0 $163 ‐‐ CS Secured Fa
Slide 25: Sales of Metal
Sales of Metal (in millions) - 100% Precious Metals Profile - $350 $300 59% Increase $250 21% $200 33% Gold $150 24% Silver $100 79% 67% 76% $50 $0 2007 2008 2009 25
Slide 26: Fourth Quarter 2009 Highlights
Fourth Quarter 2009 Highlights (in millions except for per share data) Q409 Q309 Revenue 98 84 Production Costs (57) (59) Depreciation and Depletion (28) (29) Gross Profit 13 (4) Operating Income (Loss) (4) (7) Other Income(Expense) Gain (Loss) on debt extinguishments (4) (3) Loss on derivatives, ne
Slide 27: Declining Capital Expenditure Profile
Declining Capital Expenditure Profile (in millions) $104 $109 $88 $78 $65 $55 $43 $44 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 27
Slide 28: Continued Strong Price Environment
Continued Strong Price Environment Spot silver price per ounce Spot gold price per ounce $20 $1,150 $18 $1,050 $16 $14 Q409 $950 Q409 $12 $850 $10 $750 $8 $650 10/1/2008 11/1/2008 12/1/2008 10/1/2009 11/1/2009 12/1/2009 10/1/2008 11/1/2008 12/1/2008 10/1/2009 11/1/2009 12/1/2009 1/1/2009 2/1/2009 3/
Slide 29: Precious Metals Update
COEUR Precious Metals Update
Slide 30: Latest Metals Forecast for 2010
Latest Metals Forecast for 2010 Selected forecasts, updated 2‐14‐10 Firm 2010 Ag 2010 Au UBS $18.00 $1035 RBC $15.00 $1000 CIBC $18.00 $1200 JPM $15.45 $1040 DB $19.00 $1150 Average $17.09 $1,075 % change from Nov 09 +3% +6.4% 30
Slide 31: Multiple Forces Supporting Strong Prices
Multiple Forces Supporting Strong Prices • Continued Central Bank purchasing, plus widespread demand in China and India • Recent purchases from sovereign wealth funds and US pension funds • Recent survey showed gold is still the favored inflation hedge in Asia, more so than equities • Gold ETFs cont
Slide 32: Catalysts for Coeur in 2010
Catalysts for Coeur in 2010 • Updates on path to Q3 2010 production at Kensington • Continued silver recovery improvements at Palmarejo • Processing optimization at San Bartolomé and resolution of 4400 meter mining restriction • Exploration focus at Joaquin, Kensington, Palmarejo • New leach pad con
Slide 33: Appendix
COEUR Appendix
Slide 34: Kensington Exploration Kimberly Phase 1 Drilling; Q4 2009
Kensington Exploration Kimberly Phase 1 Drilling; Q4 2009 Mineralized Interval (feet) Assays (oz/t) Hole I.D. From To Length True Au KMB‐001 120.3 129.0 8.7 4.8 0.144 144.0 149.0 5.0 2.8 0.462 KMB‐002 No significant Mineralization KMB‐003 No significant Mineralization KMB‐004 332.0 335.0 3.0 0.9 0.1
Slide 35: Palmarejo Exploration Guadalupe; Q4 2009
Mineralized Intercept (m) Assays (g/t) Hole Id From To Length True Width Au Ag TGDH 314 246.0 249.0 3.0 2.6 2.50 37 TGDH 316 271.1 280.9 9.8 8.7 1.49 109 Including 276.7 279.8 3.1 2.8 3.42 110 TGDH 317 137.7 138.5 0.8 0.7 0.00 156 TGDH 318 430.2 450.4 20.2 19.3 1.45 98 434.0 436.9 2.9 2.8 3.71 108 I
Slide 36: Joaquin Exploration La Negra Phase 3
Mineralized Interval (Meters) Assays Hole I.D. From To Length True Au g/t Ag g/t DDJ-39 26,7 50,8 24,1 20,6 0,08 129 Incl 27,3 30,0 2,7 2,3 0,58 952 75,8 77,6 1,8 1,5 0,68 982 81,0 119,1 38,1 32,5 0,09 88 Incl 87,5 95,2 7,8 6,7 0,20 114 Incl 101,5 107,0 5,5 4,7 0,13 148 Incl 111,0 119,1 8,1 6,9 0,08
Slide 37: Joaquin Exploration La Morocha Phase 3
Mineralized Interval (Meters) Assays Hole I.D. From To Length True Au g/t Ag g/t DDJ-48 128,1 129,2 1,1 0,9 <0.01 30 141,7 142,6 0,9 0,8 0,06 30 145,0 152,6 7,6 6,4 0,40 10 156,9 158,0 1,1 0,9 0,39 6 Joaquin Exploration DDJ-49 Incl. 132,0 132,0 158,8 154,0 151,0 170,0 22,0 11,2 19,0 20,2 17,42 10,3
Slide 38: 2009 Proven and Probable Reserves
2009 Proven and Probable Reserves MINERAL RESERVES SHORT GRADE (Oz/Ton) OUNCES (000s) YEAR END 2009 LOCATION TONS (000s) SILVER GOLD SILVER GOLD PROVEN RESERVES Rochester Nevada 31,821 0.58 0.006 18,361 185 Cerro Bayo Chile 41 8.32 0.05 345 2 Martha Argentina - - - - - San Bartolome Bolivia 131 3.29
Slide 39: 2009 Mineral Resources
2009 Mineral Resources MINERAL RESOURCES SHORT TONS GRADE (Oz/Ton) OUNCES (000s) (000s) YEAR END 2009 LOCATION SILVER GOLD SILVER GOLD MEASURED RESOURCES Rochester Nevada 75,973 0.52 0.004 39,257 318 Cerro Bayo Chile 274 7.95 0.16 2,182 43 Martha Argentina 6 90.70 0.11 576 1 San Bartolome Bolivia -