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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Coeur Mining Inc | NYSE:CDE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.05 | 1.04% | 4.84 | 5.08 | 4.764 | 4.90 | 6,442,693 | 01:00:00 |
Delaware (State or other jurisdiction of incorporation or organization) | 1-8641 (Commission File Number) | 82-0109423 (IRS Employer Identification No.) |
Exhibit No. | Description |
Exhibit 99.1 | Press Release dated February 10, 2016 |
COEUR MINING, INC. | |
Date: February 10, 2016 | By: /s/ Peter C. Mitchell |
Name: Peter C. Mitchell Title: Senior Vice President and Chief Financial Officer |
Exhibit No. | Description |
Exhibit 99.1 | Press Release dated February 10, 2016 |
• | Silver equivalent1 production totaled 9.5 million ounces. Silver production was 4.0 million ounces and gold production was 91,551 ounces as previously announced on January 11, 2016 |
• | Adjusted all-in sustaining costs were $13.55 per realized silver equivalent ounce1. Using a 60:1 equivalence, adjusted all-in sustaining costs were $15.66 per silver equivalent ounce1 |
• | Adjusted costs applicable to sales were $11.71 per realized silver equivalent ounce1. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $12.65 |
• | Adjusted EBITDA1 was $13.9 million |
• | Capital expenditures totaled $30.0 million, driven by development of the Jualin deposit at Kensington and development of the Guadalupe and Independencia underground deposits at Palmarejo |
• | Wharf's gold equivalent production increased 38% to 32,231 ounces, leading to a 22% decline in costs applicable to sales per gold equivalent ounce1 to $556 and quarterly free cash flow3 of $16.9 million |
• | Reduced total debt by approximately $54 million, or approximately 10%, at significant discount to par, resulting in a $16 million gain |
• | Cash and equivalents of $200.7 million at December 31, 2015 |
• | Non-cash impairment charge of $313.3 million ($276.5 million net of tax) was recorded to reduce the carrying values of the Palmarejo and San Bartolomé mines, the Endeavor silver stream, and certain royalty assets to reflect lower gold and silver prices |
• | Silver equivalent1 production totaled 35.6 million ounces, at the high-end of Company guidance and 11% higher than 2014. Silver production was 15.9 million ounces, at the high-end of Company guidance. Gold production was 327,908 ounces, in-line with Company guidance and 31% higher than 2014 |
• | Adjusted all-in sustaining costs were $14.32 per realized silver equivalent ounce1, a 22% reduction from 2014. Using a 60:1 equivalence, adjusted all-in sustaining costs were $16.16 per silver equivalent ounce1, a 16% reduction from 2014 |
• | Adjusted costs applicable to sales were $11.87 per realized silver equivalent ounce1, a 13% reduction from 2014. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $12.75, a 10% reduction from 2014 |
• | Adjusted costs applicable to sales per gold ounce1 at Kensington were $798, 16% lower than 2014 and the lowest since production began in 2010 |
• | General and administrative expenses were $32.8 million, below Company guidance and down 20% compared to 2014 |
• | Adjusted EBITDA1 was $101.2 million, a 19% increase over 2014 despite 18% and 9% lower average realized prices for silver and gold, respectively |
• | Capital expenditures were $95.2 million, at the low-end of Company guidance, and consisted primarily of underground development at the Guadalupe and Independencia deposits at Palmarejo, development of the Jualin deposit at Kensington, and expansion of the crushing facility at Rochester |
(Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 | ||||||||||||||
Revenue | $ | 646.1 | $ | 164.2 | $ | 162.6 | $ | 166.3 | $ | 153.0 | $ | 635.7 | $ | 140.6 | |||||||
Costs Applicable to Sales | $ | 479.7 | $ | 125.3 | $ | 120.2 | $ | 119.1 | $ | 115.1 | $ | 477.9 | $ | 126.5 | |||||||
General and Administrative Expenses | $ | 32.8 | $ | 8.8 | $ | 6.7 | $ | 8.5 | $ | 8.8 | $ | 40.8 | $ | 9.0 | |||||||
Adjusted EBITDA1 | $ | 101.2 | $ | 13.9 | $ | 31.4 | $ | 34.7 | $ | 23.7 | $ | 85.0 | $ | 7.8 | |||||||
Net Income (Loss) | $ | (367.2 | ) | $ | (303.0 | ) | $ | (14.2 | ) | $ | (16.7 | ) | $ | (33.3 | ) | $ | (1,186.9 | ) | $ | (1,079.1 | ) |
Net Income (Loss) Per Share | $ | (2.83 | ) | $ | (2.28 | ) | $ | (0.11 | ) | $ | (0.12 | ) | $ | (0.32 | ) | $ | (11.59 | ) | $ | (10.53 | ) |
Adjusted Net Income (Loss)1 | $ | (96.6 | ) | $ | (38.6 | ) | $ | (21.8 | ) | $ | (14.5 | ) | $ | (19.2 | ) | $ | (110.7 | ) | $ | (37.5 | ) |
Adjusted Net Income (Loss)1 Per Share | $ | (0.75 | ) | $ | (0.27 | ) | $ | (0.16 | ) | $ | (0.11 | ) | $ | (0.19 | ) | $ | (1.08 | ) | $ | (0.37 | ) |
Weighted Average Shares | 129.6 | 145.0 | 135.5 | 135.0 | 102.6 | 102.4 | 102.4 | ||||||||||||||
Cash Flow From Operating Activities | $ | 113.5 | $ | 44.4 | $ | 36.2 | $ | 36.9 | $ | (4.0 | ) | $ | 53.5 | $ | 0.7 | ||||||
Capital Expenditures | $ | 95.2 | $ | 30.0 | $ | 23.9 | $ | 23.7 | $ | 17.6 | $ | 64.2 | $ | 20.1 | |||||||
Cash, Equivalents & Short-Term Investments | $ | 200.7 | $ | 200.7 | $ | 205.7 | $ | 205.9 | $ | 179.6 | $ | 270.9 | $ | 270.9 | |||||||
Total Debt2 | $ | 490.4 | $ | 490.4 | $ | 546.0 | $ | 547.7 | $ | 513.5 | $ | 468.5 | $ | 468.5 | |||||||
Average Realized Price Per Ounce - Silver | $ | 15.46 | $ | 14.27 | $ | 14.66 | $ | 16.23 | $ | 16.77 | $ | 18.87 | $ | 16.40 | |||||||
Average Realized Price Per Ounce - Gold | $ | 1,143 | $ | 1,093 | $ | 1,116 | $ | 1,179 | $ | 1,204 | $ | 1,252 | $ | 1,186 | |||||||
Silver Ounces Produced | 15.9 | 4.0 | 3.8 | 4.3 | 3.8 | 17.2 | 4.3 | ||||||||||||||
Gold Ounces Produced | 327,908 | 91,551 | 85,769 | 80,855 | 69,734 | 249,384 | 64,534 | ||||||||||||||
Silver Equivalent Ounces Produced1 | 35.6 | 9.5 | 9.0 | 9.1 | 8.0 | 32.2 | 8.3 | ||||||||||||||
Silver Ounces Sold | 16.5 | 4.4 | 4.0 | 4.0 | 4.1 | 17.4 | 4.6 | ||||||||||||||
Gold Ounces Sold | 335,882 | 92,032 | 91,118 | 84,312 | 68,420 | 242,655 | 52,785 | ||||||||||||||
Silver Equivalent Ounces Sold1 | 36.7 | 9.9 | 9.5 | 9.1 | 8.2 | 32.0 | 7.9 | ||||||||||||||
Silver Equivalent Ounces Sold (Realized)1 | 41.3 | 11.3 | 10.9 | 10.1 | 9.0 | 33.5 | 8.4 | ||||||||||||||
Adjusted Costs Applicable to Sales per AgEq Ounce1 | $ | 12.75 | $ | 12.65 | $ | 12.07 | $ | 12.56 | $ | 13.71 | $ | 14.13 | $ | 14.43 | |||||||
Adjusted Costs Applicable to Sales per Realized AgEq Ounce1 | $ | 11.87 | $ | 11.71 | $ | 11.00 | $ | 11.75 | $ | 12.90 | $ | 13.68 | $ | 13.67 | |||||||
Adjusted Costs Applicable to Sales per AuEq Ounce1 | $ | 764 | $ | 663 | $ | 783 | $ | 816 | $ | 797 | $ | 940 | $ | 792 | |||||||
Adjusted All-in Sustaining Costs per AgEq Ounce1 | $ | 16.16 | $ | 15.66 | $ | 15.17 | $ | 16.60 | $ | 17.66 | $ | 19.23 | $ | 19.25 | |||||||
Adjusted Costs Applicable to Sales per Realized AgEq Ounce 1 | $ | 14.32 | $ | 13.55 | $ | 13.14 | $ | 14.81 | $ | 16.05 | $ | 18.34 | $ | 18.04 |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Underground Operations: | |||||||
Tons mined | 701,662 | 189,383 | 190,399 | 172,730 | 149,150 | 744,599 | 187,730 |
Average silver grade (oz/t) | 4.06 | 3.96 | 4.11 | 3.90 | 4.34 | 5.40 | 4.49 |
Average gold grade (oz/t) | 0.08 | 0.06 | 0.10 | 0.09 | 0.07 | 0.10 | 0.06 |
Surface Operations: | |||||||
Tons mined | 888,432 | 102,018 | 247,071 | 257,862 | 281,481 | 1,342,608 | 320,802 |
Average silver grade (oz/t) | 3.64 | 3.86 | 3.56 | 3.47 | 3.79 | 3.30 | 2.90 |
Average gold grade (oz/t) | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 |
Processing: | |||||||
Total tons milled | 1,616,668 | 301,274 | 427,635 | 435,841 | 451,918 | 2,135,088 | 510,813 |
Average recovery rate – Ag | 84.3% | 95.4% | 87.9% | 78.5% | 78.7% | 77.5% | 80.2% |
Average recovery rate – Au | 80.6% | 88.8% | 84.7% | 76.2% | 73.9% | 80.5% | 78.7% |
Silver ounces produced (000's) | 5,149 | 1,126 | 1,422 | 1,247 | 1,354 | 6,558 | 1,444 |
Gold ounces produced | 70,922 | 14,326 | 22,974 | 18,127 | 15,495 | 86,673 | 15,237 |
Silver equivalent ounces produced1 (000's) | 9,404 | 1,985 | 2,800 | 2,335 | 2,284 | 11,758 | 2,358 |
Silver ounces sold (000's) | 5,448 | 1,465 | 1,425 | 1,228 | 1,330 | 6,640 | 1,375 |
Gold ounces sold | 73,218 | 18,719 | 25,000 | 15,706 | 13,793 | 92,030 | 16,255 |
Silver equivalent ounces sold1 (000's) | 9,841 | 2,588 | 2,925 | 2,170 | 2,158 | 12,162 | 2,350 |
Silver equivalent ounces sold1 (realized) (000's) | 10,862 | 2,840 | 3,325 | 2,374 | 2,323 | 12,746 | 2,545 |
Revenues | $169.1 | $41.6 | $49.2 | $38.9 | $39.4 | $244.0 | $42.2 |
Costs applicable to sales | $138.5 | $39.8 | $34.1 | $30.1 | $34.5 | $187.3 | $48.1 |
Adjusted costs applicable to sales per AgEq ounce1 | $13.03 | $13.48 | $11.40 | $13.21 | $14.56 | $15.26 | $15.70 |
Adjusted costs applicable to sales per realized AgEq ounce 1 | $11.81 | $12.04 | $10.01 | $12.07 | $13.52 | $13.77 | $14.49 |
Exploration expense | $4.5 | $0.5 | $1.1 | $1.8 | $1.1 | $6.7 | $1.5 |
Cash flow from operating activities | $52.7 | $20.3 | $22.9 | $9.7 | $(0.2) | $54.6 | $(3.2) |
Sustaining capital expenditures | $5.5 | $(1.4) | $1.1 | $2.7 | $3.1 | $16.4 | $5.5 |
Development capital expenditures | $30.5 | $7.0 | $9.4 | $8.0 | $6.1 | $9.7 | $5.4 |
Total capital expenditures | $36.0 | $5.6 | $10.5 | $10.7 | $9.2 | $26.1 | $10.9 |
Free cash flow (before royalties) | $16.7 | $14.7 | $12.4 | $(1.0) | $(9.4) | $28.5 | $(14.1) |
Royalties paid | $39.2 | $8.8 | $10.2 | $9.8 | $10.4 | $48.4 | $10.0 |
Free cash flow3 | $(22.5) | $5.9 | $2.2 | $(10.8) | $(19.8) | $(19.9) | $(24.1) |
• | Fourth quarter adjusted costs applicable to sales per realized silver equivalent ounce1 were $12.04. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $13.48 in the fourth quarter 2015 |
• | Full-year 2015 adjusted costs applicable to sales per realized silver equivalent ounce1 were $11.81. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $13.03, 15% lower than 2014 |
• | Fourth quarter free cash flow before royalties of $14.7 million reached the highest level since the third quarter of 2014 when silver and gold prices averaged $19.46 and $1,260 per ounce. Full-year free cash flow before royalties totaled $16.7 million, despite $36.0 million in capital expenditures during the year |
• | Recent modifications to the processing plant have significantly improved recovery rates. Fourth quarter recovery rates were 95.4% for silver and 88.8% for gold compared to 80.2% and 78.5%, respectively, during last year's fourth quarter |
• | Mining and processing of ore from the Independencia deposit has now begun after reaching this new ore body in early January as planned. Mining rates are expected to climb throughout 2016 to 1,000 tons per day by year-end |
• | With active open pit mining operations to be completed during the first quarter of 2016, underground production levels are expected to increase throughout the year as mining rates from Independencia accelerate. By mid-2017, the Company expects daily underground mining rates to reach a combined 4,000 tons per day from the higher-grade, higher-margin Guadalupe and Independencia deposits |
• | In 2016, Palmarejo is expected to produce 3.8 - 4.3 million ounces of silver and 67,000 - 72,000 ounces of gold at costs applicable to sales per silver equivalent ounce1 of $12.50 - $13.50 |
• | 2016 capital expenditures are expected to be approximately $40 million and consist mostly of underground development at Guadalupe and Independencia as well as capitalized exploration drilling intended to convert mineralized material to reserves |
• | Employee headcount is down 17% to 765 employees compared to the beginning of 2014 when operations began the transition to higher-grade underground mining activities |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Ore tons placed | 16,414,302 | 4,411,590 | 4,128,868 | 3,859,965 | 4,013,879 | 14,739,808 | 3,876,944 |
Average silver grade (oz/t) | 0.63 | 0.60 | 0.59 | 0.61 | 0.74 | 0.57 | 0.60 |
Average gold grade (oz/t) | 0.003 | 0.003 | 0.003 | 0.003 | 0.004 | 0.004 | 0.004 |
Silver ounces produced (000's) | 4,631 | 1,107 | 1,086 | 1,294 | 1,144 | 4,189 | 1,170 |
Gold ounces produced | 52,588 | 11,564 | 10,892 | 16,411 | 13,721 | 44,888 | 15,764 |
Silver equivalent ounces produced1 (000's) | 7,786 | 1,800 | 1,740 | 2,279 | 1,967 | 6,882 | 2,116 |
Silver ounces sold (000's) | 4,900 | 1,125 | 1,304 | 1,120 | 1,351 | 3,922 | 1,154 |
Gold ounces sold | 57,963 | 11,587 | 13,537 | 15,085 | 17,754 | 39,803 | 14,131 |
Silver equivalent ounces sold1 (000's) | 8,378 | 1,821 | 2,116 | 2,025 | 2,416 | 6,310 | 2,002 |
Silver equivalent ounces sold1 (realized) (000's) | 9,187 | 2,004 | 2,333 | 2,221 | 2,629 | 6,563 | 2,171 |
Revenues | $143.9 | $29.0 | $34.6 | $36.3 | $44.0 | $123.8 | $36.0 |
Costs applicable to sales | $104.0 | $22.8 | $25.4 | $24.4 | $31.4 | $91.5 | $28.7 |
Adjusted costs applicable to sales per AgEq ounce1 | $12.36 | $12.37 | $12.01 | $12.01 | $12.95 | $14.49 | $13.82 |
Adjusted costs applicable to sales per realized AgEq ounce 1 | $11.27 | $11.19 | $10.89 | $10.94 | $11.91 | $13.77 | $12.75 |
Exploration expense | $1.3 | $0.1 | $— | $0.5 | $0.7 | $2.6 | $0.6 |
Cash flow from operating activities | $32.1 | $0.4 | $6.5 | $8.8 | $16.4 | $13.7 | $10.2 |
Sustaining capital expenditures | $10.3 | $5.3 | $1.8 | $2.4 | $0.8 | $11.9 | $2.7 |
Development capital expenditures | $15.0 | $5.5 | $3.5 | $3.5 | $2.5 | $— | $— |
Total capital expenditures | $25.3 | $10.8 | $5.3 | $5.9 | $3.3 | $11.9 | $2.7 |
Free cash flow3 | $6.8 | $(10.4) | $1.2 | $2.9 | $13.1 | $1.8 | $7.5 |
• | Full-year silver equivalent production of 7.8 million ounces increased 13% from 2014, reflecting the second consecutive year of double-digit growth |
• | Fourth quarter adjusted costs applicable to sales per realized silver equivalent ounce1 were $11.19, a 3% increase versus the third quarter of 2015 and a 12% decline from last year's fourth quarter. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $12.37, up 3% from the third quarter, but down 10% from the fourth quarter of 2014 |
• | Full-year 2015 adjusted costs applicable to sales per realized silver equivalent ounce1 were $11.27, 18% lower than 2014. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce1 were $12.36, down 15% compared to 2014 as a result of a greater number of tons placed |
• | Placed 16.4 million tons under leach during 2015, representing an increase of 11% compared to 2014 and 33% compared to 2013. Anticipate placing nearly 20 million tons under leach in 2016. This increase is due to recent investments made to expand the crushing facility, increase capacity of the existing Stage III leach pad, and upgrade the mining fleet, including the transition from loaders to a hydraulic shovel and the commissioning of a new fleet of 150 ton haul trucks during the first half of 2016 |
• | Approval for POA 10, which will allow for the expansion of the Stage IV leach pad and construction of new Stage V leach pad, is expected in the first half of 2016. Minimal preparatory work for the Stage V leach pad is expected later this year with major construction activity planned for 2017 |
• | In 2016, Rochester is expected to produce 4.7 - 5.2 million ounces of silver and 48,000 - 55,000 ounces of gold at costs applicable to sales per silver equivalent ounce1 of $11.25 - $12.25 |
• | Capital expenditures in 2016 are expected to be approximately $12 million and will consist mostly preparatory work for the Stage V leach pad as well as capitalized exploration |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Tons milled | 660,464 | 159,666 | 165,198 | 170,649 | 164,951 | 635,960 | 167,417 |
Average gold grade (oz/t) | 0.20 | 0.22 | 0.19 | 0.18 | 0.24 | 0.20 | 0.21 |
Average recovery rate | 94.9% | 96.0% | 93.9% | 94.9% | 94.8% | 94.0% | 94.2% |
Gold ounces produced | 126,266 | 33,713 | 28,799 | 29,845 | 33,909 | 117,823 | 33,533 |
Gold ounces sold | 131,553 | 29,989 | 28,084 | 36,607 | 36,873 | 110,822 | 22,399 |
Revenues | $148.7 | $31.7 | $30.5 | $42.5 | $44.0 | $137.0 | $26.0 |
Costs applicable to sales | $105.6 | $23.7 | $25.0 | $27.5 | $29.4 | $105.3 | $18.9 |
Adjusted costs applicable to sales per gold ounce1 | $798 | $777 | $842 | $745 | $797 | $951 | $792 |
Exploration expense | $2.6 | $0.3 | $0.2 | $0.4 | $1.7 | $8.0 | $2.8 |
Cash flow from operating activities | $37.7 | $4.5 | $8.9 | $12.0 | $12.3 | $26.6 | $(3.7) |
Sustaining capital expenditures | $14.8 | $5.5 | $1.0 | $4.2 | $4.1 | $15.6 | $3.3 |
Development capital expenditures | $9.0 | $4.0 | $4.5 | $0.5 | $— | $0.6 | $0.6 |
Total capital expenditures | $23.8 | $9.5 | $5.5 | $4.7 | $4.1 | $16.2 | $3.9 |
Free cash flow3 | $13.9 | $(5.0) | $3.4 | $7.3 | $8.2 | $10.4 | $(7.6) |
• | All-time high gold production of 126,266 ounces in 2015 at adjusted costs applicable to sale per ounce1 of $798, the lowest since operations began in 2010 |
• | Fourth quarter adjusted costs applicable to sales per gold ounce1 of $777 declined 8% compared to the third quarter due to higher grade and a higher recovery rate |
• | Development the high-grade Jualin deposit remains on-schedule. The decline has now advanced over 2,000 feet, representing nearly 30% of the total required development to reach the ore body |
• | Underground drilling to increase confidence levels of existing Jualin resource and expand the size of the ore body is expected to begin in the first quarter of 2016 |
• | Implemented ore sorting technology to the mill flow sheet in November to improve recovery rates going forward. Capital investment was $1.8 million and payback expected to be achieved in the second quarter of this year |
• | In 2016, Kensington is expected to produce 115,000 - 125,000 ounces of gold at costs applicable to sales per gold ounce1 of $825 - $875 |
• | Capital expenditures in 2016 are estimated to be approximately $30 million and consist mostly of underground development of the Jualin deposit, further development of the Kensington and Raven ore bodies, as well as capitalized exploration |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Ore tons placed | 3,600,279 | 1,147,130 | 1,149,744 | 887,409 | 415,996 | — | — |
Average silver grade (oz/t) | 0.23 | 0.21 | 0.21 | 0.30 | — | — | — |
Average gold grade (oz/t) | 0.030 | 0.032 | 0.035 | 0.025 | 0.020 | — | — |
Average plant recovery rate - Au | 90.2% | 97.3% | 92.8% | 76.7% | 85.9% | — | — |
Silver ounces produced (000's) | 56 | 18 | 19 | 19 | — | — | — |
Gold ounces produced | 78,132 | 31,947 | 23,104 | 16,472 | 6,609 | — | — |
Gold equivalent ounces produced1 | 79,061 | 32,231 | 23,427 | 16,794 | 6,609 | — | — |
Silver ounces sold (000's) | 49 | 17 | 19 | 13 | — | — | — |
Gold ounces sold | 73,148 | 31,202 | 24,815 | 17,131 | — | — | — |
Gold equivalent ounces sold1 | 73,965 | 31,485 | 25,132 | 17,348 | — | — | — |
Revenues | $84.1 | $35.7 | $28.0 | $20.4 | $— | — | — |
Costs applicable to sales | $52.2 | $17.8 | $17.8 | $16.6 | $— | — | — |
Adjusted costs applicable to sales per gold equivalent ounce1 | $706 | $556 | $716 | $970 | $— | — | — |
Exploration expense | $0.1 | $0.1 | $— | $— | $— | — | — |
Cash flow from operating activities | $32.0 | $18.1 | $12.9 | $8.2 | $(7.2) | — | — |
Sustaining capital expenditures | $3.2 | $1.2 | $0.7 | $1.2 | $0.1 | — | — |
Development capital expenditures | $— | $— | $— | $— | $— | — | — |
Total capital expenditures | $3.2 | $1.2 | $0.7 | $1.2 | $0.1 | — | — |
Free cash flow3 | $28.8 | $16.9 | $12.2 | $7.0 | $(7.3) | — | — |
• | Fourth quarter production up 38% compared to third quarter of 2015, leading to lower unit costs and a 39% increase in free cash flow to $16.9 million |
• | Adjusted costs applicable to sales per gold equivalent ounce1 were $556 in the fourth quarter, a 22% drop compared to the prior quarter, as a result of strong crushing rates and improved process plant efficiencies, which have led to significantly higher plant recovery rates |
• | Free cash flow3 totaled $28.8 million in 2015 (since acquisition closed in February), making Wharf the Company's largest source of free cash flow |
• | Gold equivalent production during the ten months of ownership in 2015 totaled 79,061 ounces at average adjusted costs applicable to sales per gold equivalent ounce1 of $706 |
• | In 2016, Wharf is expected to produce 90,000 - 95,000 ounces of gold at costs applicable to sales per gold equivalent ounce1 of $650 - $750 |
• | Capital expenditures are expected to be approximately $8 million in 2016, consisting primarily of equipment purchases and capitalized exploration |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Tons milled | 1,713,079 | 475,695 | 373,201 | 457,232 | 406,951 | 1,749,423 | 454,135 |
Average silver grade (oz/t) | 3.75 | 3.84 | 3.76 | 3.73 | 3.65 | 3.80 | 3.77 |
Average recovery rate | 84.6% | 84.9% | 84.0% | 87.6% | 81.6% | 88.1% | 88.0% |
Silver ounces produced (000's) | 5,436 | 1,550 | 1,178 | 1,495 | 1,213 | 5,852 | 1,507 |
Silver ounces sold (000's) | 5,495 | 1,564 | 1,202 | 1,439 | 1,290 | 6,276 | 1,987 |
Revenues | $84.7 | $22.4 | $17.4 | $23.4 | $21.5 | $117.7 | $32.6 |
Costs applicable to sales | $75.8 | $20.0 | $17.5 | $19.2 | $19.1 | $89.7 | $29.6 |
Adjusted costs applicable to sales per silver ounce1 | $13.63 | $12.48 | $14.41 | $13.26 | $14.47 | $14.29 | $14.38 |
Exploration expense | $0.1 | $— | $0.1 | $— | $— | $0.1 | $— |
Cash flow from operating activities | $26.1 | $10.0 | $5.7 | $5.4 | $5.0 | $38.0 | $2.3 |
Sustaining capital expenditures | $6.2 | $2.5 | $1.8 | $1.0 | $0.9 | $7.9 | $2.0 |
Development capital expenditures | $— | $— | $— | $— | $— | $— | $— |
Total capital expenditures | $6.2 | $2.5 | $1.8 | $1.0 | $0.9 | $7.9 | $2.0 |
Free cash flow3 | $19.9 | $7.5 | $3.9 | $4.4 | $4.1 | $30.1 | $0.3 |
• | Adjusted costs applicable to sales per silver ounce1 were $12.48 in the fourth quarter, a 13% decline compared to the prior quarter. Full-year 2015 costs applicable to sales per silver equivalent ounce1 were $13.63, 5% lower than 2014 |
• | Free cash flow3 of $7.5 million in the fourth quarter almost doubled from the third quarter |
• | Coeur recently increased its purchases of higher-grade, lower-cost ore from local sources to supplement tonnage from ongoing mining activities. Approximately 30% of fourth quarter silver production was derived from third-party ore purchases, and Coeur expects the proportion to remain around 25 - 30% in 2016 |
• | Full-year 2015 silver production totaled 5.4 million ounces at adjusted costs applicable to sales of $13.63 per ounce1 |
• | In 2016, San Bartolomé is expected to produce 5.7 - 6.0 million ounces of silver at costs applicable to sales per silver ounce1 of $13.50 - $14.25 |
• | Capital expenditures in 2016 are expected to be approximately $6 million mostly for ongoing tailings impoundment expansion activities |
(Dollars in millions, except per ounce amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 |
Tons milled | 767,314 | 198,927 | 191,913 | 191,175 | 185,299 | 792,694 | 214,180 |
Average silver grade (oz/t) | 1.87 | 2.05 | 1.39 | 2.35 | 1.69 | 1.62 | 1.99 |
Average recovery rate | 43.8% | 42.1% | 45.4% | 45.4% | 42.4% | 45.6% | 44.9% |
Silver ounces produced (000's) | 629 | 171 | 121 | 204 | 133 | 590 | 191 |
Silver ounces sold (000's) | 615 | 193 | 95 | 209 | 118 | 586 | 192 |
Metal sales | $8.7 | $2.4 | $1.3 | $3.1 | $1.9 | $10.0 | $2.7 |
Royalty revenue | $6.9 | $1.5 | $1.6 | $1.8 | $2.0 | $3.2 | $0.7 |
Costs applicable to sales (Endeavor silver stream) | $3.5 | $1.0 | $0.5 | $1.4 | $0.6 | $4.2 | $1.1 |
Costs applicable to sales per silver equivalent ounce1 | $5.72 | $5.50 | $4.99 | $6.46 | $5.37 | $7.17 | $5.69 |
Cash flow from operating activities | $8.2 | $0.8 | $3.1 | $2.1 | $2.2 | $6.5 | $1.5 |
Free cash flow3 | $8.2 | $0.8 | $3.1 | $2.1 | $2.2 | $6.5 | $1.5 |
• | There are five cash-flowing royalties and streams, two non-cash-flowing royalties, and several investments in junior mining companies held in Coeur Capital or its affiliates |
• | Coeur Capital's largest source of cash flow is the silver stream on the Endeavor mine in New South Wales, Australia in which the Company owns 100% of the silver up to a total of 20.0 million payable ounces. At December 31, 2015, the Company has received 6.1 million ounces |
• | Palmarejo exploration included $4.7 million of expensed exploration and $2.1 million capitalized. The 2015 surface drilling program discovered the thickest, highest-grade silver-gold mineralization recorded to date in the deeper portions of the Guadalupe resource. With the construction of the twin declines from Guadalupe to Independencia, new discoveries at the Los Bancos and Nación veins were drilled |
• | Expensed exploration at Rochester was $1.3 million for testing areas east of the Packard Pit and East Rochester. A new zone of high-grade silver and gold mineralization was discovered at East Rochester, the economic implications of which are expected to be evaluated in 2016. Capitalized exploration totaled $1.6 million for infill drilling within the Rochester pit |
• | Expensed exploration at Kensington totaled $2.6 million and resulted in an initial resource estimate at the Jualin deposit, which was disclosed in a preliminary economic assessment in April 2015. The discovery and subsequent analysis demonstrates the robust nature of the grades at this deposit, which are three times that of the average reserve gold grades. On the back of the Jualin discovery, Raven and other veins in the district have been prioritized for future exploration. Capitalized drilling totaled $1.4 million to further define and expand the Raven vein and deeper portions of the main Kensington ore body |
• | Expanding resources in the Guadalupe-Independencia corridor, including the recently identified Los Bancos and Nación veins, as well as drilling at the nearby La Bavisa and Dana veins |
• | Infill and expansion drilling of high grade East Rochester discovery, which will be the focus of a revised economic analysis in 2016 |
• | Infill and expansion underground drilling of the Jualin Vein #4 deposit at Kensington following encouraging drill results. Additionally, underground drilling will further test a new vein, Vein #5, located beneath Vein #4 at Jualin where gold grades and thickness are believed to be very similar to Vein #4 |
• | Production is expected to be 14.6 - 16.0 million ounces of silver and 320,000 - 347,000 ounces of gold, or 33.8 - 36.8 million silver equivalent ounces1 |
• | Costs applicable to sales per silver equivalent ounce1 are expected to be $12.50 - $13.50 at Palmarejo, $11.25 - $12.25 at Rochester, and $13.50 - $14.25 at San Bartolomé |
• | Costs applicable to sales per gold ounce are expected to be $825 - $875 at Kensington and $650 - $750 per gold equivalent ounce1 at Wharf |
• | All-in sustaining costs are expected to be $16.00 - $17.25 per silver equivalent ounce1 |
• | Capital expenditures are expected to be $90 - $100 million, including $58 - $64 million of sustaining capital. Capital investment will be higher in the first half of 2016, mostly due to the development of the Guadalupe and Independencia deposits at Palmarejo and development of the Jualin deposit at Kensington |
• | General and administrative expenses are expected to be $28 - $32 million, a further reduction from 2015 |
• | Expensed exploration is expected to be $11 - $13 million for the discovery of new mineralization. An additional $11 - $13 million is planned for capitalized exploration for the definition and expansion of mineralized material |
(silver and silver equivalent ounces in thousands) | Silver | Gold | Silver Equivalent1 |
Palmarejo | 3,800 - 4,300 | 67,000 - 72,000 | 7,820 - 8,620 |
Rochester | 4,700 - 5,200 | 48,000 - 55,000 | 7,580 - 8,500 |
San Bartolomé | 5,700 - 6,000 | — | 5,700 - 6,000 |
Endeavor | 350 - 400 | — | 350 - 400 |
Kensington | — | 115,000 - 125,000 | 6,900 - 7,500 |
Wharf | 80 - 100 | 90,000 - 95,000 | 5,480 - 5,800 |
Total | 14,630 - 16,000 | 320,000 - 347,000 | 33,830 - 36,820 |
(dollars in millions, except per ounce amounts) | 2016 Guidance | 2015 Result |
Costs Applicable to Sales per Silver Equivalent Ounce1 - Palmarejo | $12.50 - $13.50 | $13.03 |
Costs Applicable to Sales per Silver Ounce1 - San Bartolomé | $13.50 - $14.25 | $13.63 |
Costs Applicable to Sales per Silver Equivalent Ounce1 - Rochester | $11.25 - $12.25 | $12.36 |
Costs Applicable to Sales per Gold Ounce1 - Kensington | $825 - $875 | $798 |
Costs Applicable to Sales per Gold Equivalent Ounce1 - Wharf | $650 - $750 | $712 |
Capital Expenditures | $90 - $100 | $95.2 |
General and Administrative Expenses | $28 - $32 | $32.8 |
Exploration Expense | $11 - $13 | $11.6 |
All-in Sustaining Costs per Silver Equivalent Ounce1 | $16.00 - $17.25 | $16.16 |
Year ended December 31, | |||||||||||
2015 | 2014 | 2013 | |||||||||
In thousands, except share data | |||||||||||
Revenue | $ | 646,086 | $ | 635,742 | $ | 745,994 | |||||
COSTS AND EXPENSES | |||||||||||
Costs applicable to sales(1) | 479,654 | 477,945 | 463,663 | ||||||||
Amortization | 143,751 | 162,436 | 229,564 | ||||||||
General and administrative | 32,834 | 40,845 | 55,343 | ||||||||
Exploration | 11,647 | 21,740 | 22,360 | ||||||||
Litigation settlement | — | — | 32,046 | ||||||||
Write-downs | 313,337 | 1,472,721 | 772,993 | ||||||||
Pre-development, reclamation, and other | 17,793 | 26,037 | 15,184 | ||||||||
Total costs and expenses | 999,016 | 2,201,724 | 1,591,153 | ||||||||
OTHER INCOME (EXPENSE), NET | |||||||||||
Fair value adjustments, net | 5,202 | 3,618 | 82,768 | ||||||||
Interest expense, net of capitalized interest | (45,703 | ) | (47,546 | ) | (41,303 | ) | |||||
Other, net | (15 | ) | (5,218 | ) | (4,985 | ) | |||||
Total other income (expense), net | (40,516 | ) | (49,146 | ) | 36,480 | ||||||
Income (loss) before income and mining taxes | (393,446 | ) | (1,615,128 | ) | (808,679 | ) | |||||
Income and mining tax (expense) benefit | 26,263 | 428,254 | 158,116 | ||||||||
NET INCOME (LOSS) | $ | (367,183 | ) | $ | (1,186,874 | ) | $ | (650,563 | ) | ||
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | |||||||||||
Unrealized gain (loss) on equity securities, net of tax of $1,446 and $5,362 for the years ended December 31, 2014 and 2013, respectively | (4,154 | ) | (2,290 | ) | (8,489 | ) | |||||
Reclassification adjustments for impairment of equity securities, net of tax of $(2,552) and $(7,087) for the years ended December 31, 2014 and 2013, respectively | 2,346 | 4,042 | 11,221 | ||||||||
Reclassification adjustments for realized loss on sale of equity securities, net of tax of $(219) and $(53) for the years ended December 31, 2014 and 2013 respectively | 894 | 346 | 83 | ||||||||
Other comprehensive income (loss) | (914 | ) | 2,098 | 2,815 | |||||||
COMPREHENSIVE INCOME (LOSS) | $ | (368,097 | ) | $ | (1,184,776 | ) | $ | (647,748 | ) | ||
NET INCOME (LOSS) PER SHARE | |||||||||||
Basic | $ | (2.83 | ) | $ | (11.59 | ) | $ | (6.65 | ) | ||
Diluted | $ | (2.83 | ) | $ | (11.59 | ) | $ | (6.65 | ) |
Year ended December 31, | |||||||||||
2015 | 2014 | 2013 | |||||||||
In thousands | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income (loss) | $ | (367,183 | ) | (1,186,874 | ) | (650,563 | ) | ||||
Adjustments: | |||||||||||
Amortization | 143,751 | 162,436 | 229,564 | ||||||||
Accretion | 14,149 | 16,246 | 20,810 | ||||||||
Deferred income taxes | (40,838 | ) | (448,905 | ) | (177,178 | ) | |||||
Loss on termination of revolving credit facility | — | 3,035 | — | ||||||||
Gain on extinguishment of senior notes | (16,187 | ) | — | — | |||||||
Fair value adjustments, net | (5,202 | ) | (3,618 | ) | (80,399 | ) | |||||
Litigation settlement | — | — | 22,046 | ||||||||
Stock-based compensation | 9,272 | 9,288 | 4,812 | ||||||||
(Gain) loss on sale of assets | — | — | (9,801 | ) | |||||||
Impairment of equity securities | 2,346 | 6,593 | 18,308 | ||||||||
Write-downs | 313,337 | 1,472,721 | 772,993 | ||||||||
Foreign exchange and other | 16,574 | 124 | (244 | ) | |||||||
Changes in operating assets and liabilities: | |||||||||||
Receivables | 17,560 | (11,611 | ) | 663 | |||||||
Prepaid expenses and other current assets | (3,063 | ) | 5,635 | (15,165 | ) | ||||||
Inventory and ore on leach pads | 19,573 | 12,971 | 4,031 | ||||||||
Accounts payable and accrued liabilities | 9,453 | 15,507 | (25,910 | ) | |||||||
CASH PROVIDED BY OPERATING ACTIVITIES | 113,542 | 53,548 | 113,967 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Capital expenditures | (95,193 | ) | (64,244 | ) | (100,813 | ) | |||||
Acquisitions, net | (110,846 | ) | (21,329 | ) | (116,898 | ) | |||||
Other | (3,979 | ) | 8 | 4,478 | |||||||
Purchase of short-term investments and equity securities | (1,880 | ) | (50,513 | ) | (8,052 | ) | |||||
Sales and maturities of short-term investments | 605 | 54,344 | 34,796 | ||||||||
CASH USED IN INVESTING ACTIVITIES | (211,293 | ) | (81,734 | ) | (186,489 | ) | |||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Issuance of notes and bank borrowings | 153,500 | 167,784 | 300,000 | ||||||||
Payments on debt, capital leases, and associated costs | (84,715 | ) | (25,902 | ) | (60,628 | ) | |||||
Gold production royalty payments | (39,235 | ) | (48,395 | ) | (57,034 | ) | |||||
Share repurchases | — | — | (27,552 | ) | |||||||
Other | (542 | ) | (509 | ) | (514 | ) | |||||
CASH PROVIDED BY FINANCING ACTIVITIES | 29,008 | 92,978 | 154,272 | ||||||||
Effect of exchange rate changes on cash and cash equivalents | (1,404 | ) | (621 | ) | (500 | ) | |||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (70,147 | ) | 64,171 | 81,250 | |||||||
Cash and cash equivalents at beginning of period | 270,861 | 206,690 | 125,440 | ||||||||
Cash and cash equivalents at end of period | $ | 200,714 | $ | 270,861 | $ | 206,690 |
December 31, 2015 | December 31, 2014 | ||||||
ASSETS | In thousands, except share data | ||||||
CURRENT ASSETS | |||||||
Cash and cash equivalents | $ | 200,714 | $ | 270,861 | |||
Receivables | 85,992 | 107,923 | |||||
Inventory | 81,711 | 114,931 | |||||
Ore on leach pads | 67,329 | 48,204 | |||||
Prepaid expenses and other | 10,942 | 15,523 | |||||
446,688 | 557,442 | ||||||
NON-CURRENT ASSETS | |||||||
Property, plant and equipment, net | 195,999 | 227,911 | |||||
Mining properties, net | 589,219 | 501,192 | |||||
Ore on leach pads | 44,582 | 37,889 | |||||
Restricted assets | 11,633 | 7,037 | |||||
Equity securities | 2,766 | 5,982 | |||||
Receivables | 24,768 | 21,686 | |||||
Deferred tax assets | 1,942 | 67,515 | |||||
Other | 14,892 | 9,915 | |||||
TOTAL ASSETS | $ | 1,332,489 | $ | 1,436,569 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
CURRENT LIABILITIES | |||||||
Accounts payable | $ | 48,732 | $ | 49,052 | |||
Accrued liabilities and other | 53,953 | 51,513 | |||||
Debt | 10,431 | 17,498 | |||||
Royalty obligations | 24,893 | 43,678 | |||||
Reclamation | 2,071 | 3,871 | |||||
140,080 | 165,612 | ||||||
NON-CURRENT LIABILITIES | |||||||
Debt | 479,979 | 451,048 | |||||
Royalty obligations | 4,864 | 27,651 | |||||
Reclamation | 83,197 | 66,943 | |||||
Deferred tax liabilities | 147,132 | 141,076 | |||||
Other long-term liabilities | 55,761 | 29,911 | |||||
770,933 | 716,629 | ||||||
STOCKHOLDERS’ EQUITY | |||||||
Common stock, par value $0.01 per share; authorized 300,000,000 shares, issued and outstanding 151,339,136 at December 31, 2015 and authorized 150,000,000 shares, issued and outstanding 103,384,408 at December 31, 2014 | 1,513 | 1,034 | |||||
Additional paid-in capital | 3,024,461 | 2,789,695 | |||||
Accumulated other comprehensive income (loss) | (3,722 | ) | (2,808 | ) | |||
Accumulated deficit | (2,600,776 | ) | (2,233,593 | ) | |||
421,476 | 554,328 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,332,489 | $ | 1,436,569 |
(Dollars in thousands except per share amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 | ||||||||||||||||||
Net income (loss) | $ | (367,183 | ) | $ | (303,000 | ) | $ | (14,219 | ) | $ | (16,677 | ) | $ | (33,287 | ) | $ | (1,155,884 | ) | $ | (1,079,038 | ) | ||||
Interest expense, net of capitalized interest | 45,703 | 11,758 | 12,446 | 10,734 | 10,765 | 47,546 | 10,566 | ||||||||||||||||||
Other, net | 15 | (14,241 | ) | 8,893 | 2,852 | 2,511 | 5,218 | (1,709 | ) | ||||||||||||||||
Income tax provision (benefit) | (26,263 | ) | (17,811 | ) | (8,260 | ) | (260 | ) | 68 | (459,244 | ) | (440,594 | ) | ||||||||||||
Amortization | 143,751 | 36,190 | 35,497 | 38,974 | 33,090 | 162,436 | 38,570 | ||||||||||||||||||
EBITDA | (203,977 | ) | (287,104 | ) | 34,357 | 35,623 | 13,147 | (1,399,928 | ) | (1,472,205 | ) | ||||||||||||||
Fair value adjustments, net | (5,202 | ) | (1,546 | ) | (5,786 | ) | (2,754 | ) | 4,884 | (3,618 | ) | (7,229 | ) | ||||||||||||
Corporate reorganization costs | 647 | 133 | 514 | — | — | — | — | ||||||||||||||||||
Transaction-related costs | 2,112 | 99 | — | 38 | 1,975 | — | — | ||||||||||||||||||
Gain on debt extinguishments | (15,916 | ) | (15,916 | ) | — | — | — | — | — | ||||||||||||||||
Inventory adjustments | 10,207 | 4,901 | 2,280 | 1,805 | 3,684 | 15,823 | 14,482 | ||||||||||||||||||
Write-downs | 313,337 | 313,337 | — | — | — | 1,472,721 | 1,472,721 | ||||||||||||||||||
Adjusted EBITDA | $ | 101,208 | $ | 13,904 | $ | 31,365 | $ | 34,712 | $ | 23,690 | $ | 84,998 | $ | 7,769 |
(Dollars in thousands except per share amounts) | 2015 | 4Q 2015 | 3Q 2015 | 2Q 2015 | 1Q 2015 | 2014 | 4Q 2014 | ||||||||||||||||||
Net income (loss) | $ | (367,183 | ) | $ | (303,000 | ) | $ | (14,219 | ) | $ | (16,677 | ) | $ | (33,287 | ) | $ | (1,155,884 | ) | $ | (1,079,038 | ) | ||||
Fair value adjustments, net | (4,109 | ) | (2,446 | ) | (3,384 | ) | (2,618 | ) | 4,339 | (4,323 | ) | (5,622 | ) | ||||||||||||
Stock-based compensation | 8,701 | 2,221 | 1,541 | 2,529 | 2,410 | 8,976 | 1,807 | ||||||||||||||||||
Impairment of equity securities | 2,346 | 318 | 483 | 31 | 1,514 | 6,593 | 1,979 | ||||||||||||||||||
Accretion of royalty obligation | 4,252 | 727 | 1,063 | 1,147 | 1,315 | 6,976 | 1,992 | ||||||||||||||||||
Write-downs | 276,510 | 276,510 | — | — | — | 1,021,756 | 1,021,756 | ||||||||||||||||||
(Gain) loss on debt extinguishments | (15,916 | ) | (16,187 | ) | — | 524 | (253 | ) | (426 | ) | (426 | ) | |||||||||||||
Loss on revolver termination | — | — | — | — | — | 3,035 | — | ||||||||||||||||||
Inventory adjustments | 10,207 | 4,901 | 2,280 | 1,805 | 3,684 | 15,823 | 14,482 | ||||||||||||||||||
Corporate reorganization costs | 647 | 133 | 514 | — | — | — | — | ||||||||||||||||||
Transaction-related costs | 2,112 | 99 | — | 38 | 1,975 | — | — | ||||||||||||||||||
Foreign exchange (gain) loss on deferred taxes | (14,170 | ) | (1,844 | ) | (10,092 | ) | (1,305 | ) | (929 | ) | (13,180 | ) | 5,615 | ||||||||||||
Adjusted net income (loss) | $ | (96,603 | ) | $ | (38,568 | ) | $ | (21,814 | ) | $ | (14,526 | ) | $ | (19,232 | ) | $ | (110,654 | ) | $ | (37,455 | ) | ||||
Adjusted net income (loss) per share | $ | (0.75 | ) | $ | (0.27 | ) | $ | (0.16 | ) | $ | (0.11 | ) | $ | (0.19 | ) | $ | (1.08 | ) | $ | (0.37 | ) |
Silver | Gold | Total | ||||||||||||||||||||||||||||||||||
In thousands except per ounce amounts | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Wharf | Total | ||||||||||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 170,899 | $ | 127,900 | $ | 93,625 | $ | 9,059 | $ | 401,483 | $ | 147,880 | $ | 68,575 | $ | 216,455 | $ | 617,938 | ||||||||||||||||||
Amortization | 32,423 | 23,906 | 17,798 | 5,539 | 79,666 | 42,240 | 16,378 | 58,618 | 138,284 | |||||||||||||||||||||||||||
Costs applicable to sales | $ | 138,476 | $ | 103,994 | $ | 75,827 | $ | 3,520 | $ | 321,817 | $ | 105,640 | $ | 52,197 | $ | 157,837 | $ | 479,654 | ||||||||||||||||||
Silver equivalent ounces sold | 9,840,705 | 8,377,823 | 5,495,369 | 615,022 | 24,328,919 | 36,659,759 | ||||||||||||||||||||||||||||||
Gold equivalent ounces sold | 131,553 | 73,961 | 205,514 | |||||||||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 14.07 | $ | 12.41 | $ | 13.80 | $ | 5.72 | $ | 13.23 | $ | 803 | $ | 706 | $ | 768 | $ | 13.08 | ||||||||||||||||||
Inventory adjustments | (1.04 | ) | (0.05 | ) | (0.17 | ) | — | (0.48 | ) | (5 | ) | — | (4 | ) | (0.34 | ) | ||||||||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 13.03 | $ | 12.36 | $ | 13.63 | $ | 5.72 | $ | 12.75 | $ | 798 | $ | 706 | $ | 764 | $ | 12.74 | ||||||||||||||||||
Costs applicable to sales per realized ounce | $ | 12.75 | $ | 11.32 | $ | 12.31 | $ | 11.60 | ||||||||||||||||||||||||||||
Inventory adjustments | (0.94 | ) | (0.05 | ) | (0.44 | ) | (0.30 | ) | ||||||||||||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 11.81 | $ | 11.27 | $ | 11.87 | $ | 11.30 | ||||||||||||||||||||||||||||
Costs applicable to sales | $ | 479,654 | ||||||||||||||||||||||||||||||||||
Treatment and refining costs | 4,801 | |||||||||||||||||||||||||||||||||||
Sustaining capital | 53,362 | |||||||||||||||||||||||||||||||||||
General and administrative | 32,834 | |||||||||||||||||||||||||||||||||||
Exploration | 11,647 | |||||||||||||||||||||||||||||||||||
Reclamation | 16,769 | |||||||||||||||||||||||||||||||||||
Project/pre-development costs | 5,674 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs | $ | 604,741 | ||||||||||||||||||||||||||||||||||
Silver equivalent ounces sold | 24,328,919 | |||||||||||||||||||||||||||||||||||
Kensington and Wharf silver equivalent ounces sold | 12,330,840 | |||||||||||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 36,659,759 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 16.50 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.34 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 16.16 | ||||||||||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 14.62 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.30 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 14.32 |
Silver | Gold | Total | ||||||||||||||||||||||||||||||||||
In thousands except per ounce amounts | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Wharf | Total | ||||||||||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 47,068 | $ | 27,716 | $ | 20,665 | $ | 2,579 | $ | 101,735 | $ | 33,298 | $ | 25,271 | $ | 58,569 | $ | 160,304 | ||||||||||||||||||
Amortization | 7,287 | 4,944 | 4,311 | 1,519 | 18,061 | 9,503 | 7,484 | 16,987 | 35,048 | |||||||||||||||||||||||||||
Costs applicable to sales | $ | 39,781 | $ | 22,772 | $ | 20,061 | $ | 1,060 | $ | 83,674 | $ | 23,795 | $ | 17,787 | $ | 41,582 | $ | 125,256 | ||||||||||||||||||
Silver equivalent ounces sold | 2,588,185 | 1,820,471 | 1,564,155 | 192,768 | 6,165,579 | 9,885,699 | ||||||||||||||||||||||||||||||
Gold equivalent ounces sold | 29,988 | 32,014 | 62,002 | |||||||||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 15.37 | $ | 12.51 | $ | 12.83 | $ | 5.50 | $ | 13.57 | $ | 793 | $ | 556 | $ | 671 | $ | 12.67 | ||||||||||||||||||
Inventory adjustments | (1.89 | ) | (0.14 | ) | (0.35 | ) | — | (0.92 | ) | (16 | ) | — | (8 | ) | (0.62 | ) | ||||||||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 13.48 | $ | 12.37 | $ | 12.48 | $ | 5.50 | $ | 12.65 | $ | 777 | $ | 556 | $ | 663 | $ | 12.05 | ||||||||||||||||||
Costs applicable to sales per realized ounce | $ | 13.73 | $ | 11.32 | $ | 12.56 | $ | 10.98 | ||||||||||||||||||||||||||||
Inventory adjustments | (1.69 | ) | (0.13 | ) | (0.85 | ) | (0.54 | ) | ||||||||||||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 12.04 | $ | 11.19 | $ | 11.71 | $ | 10.44 | ||||||||||||||||||||||||||||
Costs applicable to sales | $ | 125,256 | ||||||||||||||||||||||||||||||||||
Treatment and refining costs | 964 | |||||||||||||||||||||||||||||||||||
Sustaining capital | 16,567 | |||||||||||||||||||||||||||||||||||
General and administrative | 8,855 | |||||||||||||||||||||||||||||||||||
Exploration | 1,689 | |||||||||||||||||||||||||||||||||||
Reclamation | 4,963 | |||||||||||||||||||||||||||||||||||
Project/pre-development costs | 2,691 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs | $ | 160,985 | ||||||||||||||||||||||||||||||||||
Silver equivalent ounces sold | 6,165,579 | |||||||||||||||||||||||||||||||||||
Kensington and Wharf silver equivalent ounces sold | 3,720,120 | |||||||||||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 9,885,699 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 16.28 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.62 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 15.66 | ||||||||||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 14.09 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.54 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 13.55 |
Silver | Gold | Total | ||||||||||||||||||||||||||||||||||
In thousands except per ounce amounts | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Wharf | Total | ||||||||||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 42,710 | $ | 33,935 | $ | 20,665 | $ | 1,384 | $ | 99,038 | $ | 33,472 | $ | 23,419 | $ | 56,891 | $ | 155,929 | ||||||||||||||||||
Amortization | 8,617 | 8,499 | 3,526 | 909 | 21,551 | 8,499 | 5,642 | 14,141 | 35,692 | |||||||||||||||||||||||||||
Costs applicable to sales | $ | 34,093 | $ | 25,436 | $ | 17,483 | $ | 475 | $ | 77,487 | $ | 24,973 | $ | 17,777 | $ | 42,750 | $ | 120,237 | ||||||||||||||||||
Silver equivalent ounces sold | 2,924,947 | 2,116,353 | 1,201,959 | 95,260 | 6,338,519 | 9,512,459 | ||||||||||||||||||||||||||||||
Gold equivalent ounces sold | 28,084 | 24,815 | 52,899 | |||||||||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 11.66 | $ | 12.02 | $ | 14.55 | $ | 4.99 | $ | 12.22 | $ | 889 | $ | 716 | $ | 808 | $ | 12.64 | ||||||||||||||||||
Inventory adjustments | (0.26 | ) | (0.01 | ) | (0.14 | ) | — | (0.15 | ) | (47 | ) | — | (25 | ) | (0.24 | ) | ||||||||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 11.40 | $ | 12.01 | $ | 14.41 | $ | 4.99 | $ | 12.07 | $ | 842 | $ | 716 | $ | 783 | $ | 12.40 | ||||||||||||||||||
Costs applicable to sales per realized ounce | $ | 10.25 | $ | 10.90 | $ | 11.14 | $ | 10.95 | ||||||||||||||||||||||||||||
Inventory adjustments | (0.24 | ) | (0.01 | ) | (0.14 | ) | (0.21 | ) | ||||||||||||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 10.01 | $ | 10.89 | $ | 11.00 | $ | 10.74 | ||||||||||||||||||||||||||||
Costs applicable to sales | $ | 120,237 | ||||||||||||||||||||||||||||||||||
Treatment and refining costs | 820 | |||||||||||||||||||||||||||||||||||
Sustaining capital | 8,565 | |||||||||||||||||||||||||||||||||||
General and administrative | 6,694 | |||||||||||||||||||||||||||||||||||
Exploration | 2,112 | |||||||||||||||||||||||||||||||||||
Reclamation | 4,493 | |||||||||||||||||||||||||||||||||||
Project/pre-development costs | 3,648 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs | $ | 146,569 | ||||||||||||||||||||||||||||||||||
Silver equivalent ounces sold | 6,338,519 | |||||||||||||||||||||||||||||||||||
Kensington and Wharf silver equivalent ounces sold | 3,173,940 | |||||||||||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 9,512,459 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 15.41 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.24 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 15.17 | ||||||||||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 13.35 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.21 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 13.14 |
Silver | Gold | |||||||||||||||||||||||||||||||||||
In thousands except per ounce amounts | Palmarejo | Rochester | San Bartolomé | Endeavor | Total Silver | Kensington | Wharf | Total Gold | Total Combined | |||||||||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 39,158 | $ | 37,076 | $ | 24,428 | $ | 3,204 | $ | 103,866 | $ | 40,136 | $ | 20,123 | $ | 60,259 | $ | 164,125 | ||||||||||||||||||
Amortization | 9,046 | 12,684 | 5,271 | 1,852 | 28,853 | 12,684 | 3,491 | 16,175 | 45,028 | |||||||||||||||||||||||||||
Costs applicable to sales | $ | 30,112 | $ | 24,392 | $ | 19,157 | $ | 1,352 | $ | 75,013 | $ | 27,452 | $ | 16,632 | $ | 44,084 | $ | 119,097 | ||||||||||||||||||
Silver equivalent ounces sold | 2,169,960 | 2,024,856 | 1,439,388 | 209,130 | 5,843,334 | 9,067,614 | ||||||||||||||||||||||||||||||
Gold equivalent ounces sold | 36,607 | 17,131 | 53,738 | |||||||||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 13.88 | $ | 12.05 | $ | 13.31 | $ | 6.46 | $ | 12.84 | $ | 750 | $ | 971 | $ | 820 | $ | 13.13 | ||||||||||||||||||
Inventory adjustments | (0.67 | ) | (0.04 | ) | (0.05 | ) | — | (0.28 | ) | (5 | ) | (1 | ) | (4 | ) | (0.20 | ) | |||||||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 13.21 | $ | 12.01 | $ | 13.26 | $ | 6.46 | $ | 12.56 | $ | 745 | $ | 970 | $ | 816 | $ | 12.93 | ||||||||||||||||||
Costs applicable to sales per realized ounce | $ | 12.68 | 10.98 | 12.01 | $ | 11.72 | ||||||||||||||||||||||||||||||
Inventory adjustments | (0.61 | ) | (0.04 | ) | (0.26 | ) | (0.18 | ) | ||||||||||||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 12.07 | $ | 10.94 | $ | 11.75 | $ | 11.54 | ||||||||||||||||||||||||||||
Costs applicable to sales | $ | 119,097 | ||||||||||||||||||||||||||||||||||
Treatment and refining costs | 1,526 | |||||||||||||||||||||||||||||||||||
Sustaining capital | 13,625 | |||||||||||||||||||||||||||||||||||
General and administrative | 8,451 | |||||||||||||||||||||||||||||||||||
Exploration | 3,579 | |||||||||||||||||||||||||||||||||||
Reclamation | 4,036 | |||||||||||||||||||||||||||||||||||
Project/pre-development costs | 2,030 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs | $ | 152,344 | ||||||||||||||||||||||||||||||||||
Silver equivalent ounces sold | 5,843,334 | |||||||||||||||||||||||||||||||||||
Kensington and Wharf silver equivalent ounces sold | 3,224,280 | |||||||||||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 9,067,614 | |||||||||||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 16.80 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.20 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 16.60 | ||||||||||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 14.99 | ||||||||||||||||||||||||||||||||||
Inventory adjustments | $ | (0.18 | ) | |||||||||||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 14.81 |
Silver | Gold | |||||||||||||||||||||||||||
In thousands except per ounce amounts | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Total | |||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 41,824 | $ | 38,235 | $ | 23,818 | $ | 1,892 | $ | 105,769 | $ | 40,973 | $ | 146,742 | ||||||||||||||
Amortization | 7,333 | 6,843 | 4,691 | 1,259 | 20,126 | 11,554 | 31,680 | |||||||||||||||||||||
Costs applicable to sales | $ | 34,491 | $ | 31,392 | $ | 19,127 | $ | 633 | $ | 85,643 | $ | 29,419 | $ | 115,062 | ||||||||||||||
Silver equivalent ounces sold | 2,157,612 | 2,416,103 | 1,289,867 | 117,863 | 5,981,445 | 8,193,825 | ||||||||||||||||||||||
Gold ounces sold | 36,873 | |||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 15.99 | $ | 12.99 | $ | 14.83 | $ | 5.37 | $ | 14.32 | $ | 798 | $ | 14.04 | ||||||||||||||
Inventory adjustments | (1.43 | ) | (0.04 | ) | (0.36 | ) | — | (0.61 | ) | (1 | ) | (0.45 | ) | |||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 14.56 | $ | 12.95 | $ | 14.47 | $ | 5.37 | $ | 13.71 | $ | 797 | $ | 13.59 | ||||||||||||||
Costs applicable to sales per realized ounce | $ | 14.85 | $ | 11.94 | $ | 13.47 | $ | 12.76 | ||||||||||||||||||||
Inventory adjustments | (1.33 | ) | (0.03 | ) | (0.57 | ) | $ | — | ||||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 13.52 | $ | 11.91 | $ | 12.90 | $ | 12.76 | ||||||||||||||||||||
Costs applicable to sales | $ | 115,062 | ||||||||||||||||||||||||||
Treatment and refining costs | 1,490 | |||||||||||||||||||||||||||
Sustaining capital | 10,909 | |||||||||||||||||||||||||||
General and administrative | 8,834 | |||||||||||||||||||||||||||
Exploration | 4,266 | |||||||||||||||||||||||||||
Reclamation | 2,924 | |||||||||||||||||||||||||||
Project/pre-development costs | 4,873 | |||||||||||||||||||||||||||
All-in sustaining costs | $ | 148,358 | ||||||||||||||||||||||||||
Silver equivalent ounces sold | 5,981,445 | |||||||||||||||||||||||||||
Kensington silver equivalent ounces sold | 2,212,380 | |||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 8,193,825 | |||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 18.11 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (0.45 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 17.66 | ||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 16.46 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (0.41 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 16.05 |
Silver | Gold | |||||||||||||||||||||||||||
(Dollars in thousands except per ounce amounts) | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Total | |||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 256,707 | $ | 112,252 | $ | 109,082 | $ | 8,514 | $ | 486,555 | $ | 148,961 | $ | 635,516 | ||||||||||||||
Amortization | 69,431 | 20,790 | 19,423 | 4,308 | 113,952 | 43,619 | 157,571 | |||||||||||||||||||||
Costs applicable to sales | $ | 187,276 | $ | 91,462 | $ | 89,659 | $ | 4,206 | $ | 372,603 | $ | 105,342 | $ | 477,945 | ||||||||||||||
Silver equivalent ounces sold | 12,161,719 | 6,309,912 | 6,275,769 | 586,242 | 25,333,642 | 31,982,962 | ||||||||||||||||||||||
Gold ounces sold | 110,822 | |||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 15.40 | $ | 14.49 | $ | 14.29 | $ | 7.17 | $ | 14.71 | $ | 951 | $ | 14.94 | ||||||||||||||
Inventory adjustments | (0.14 | ) | (0.18 | ) | (0.16 | ) | — | (0.58 | ) | (11 | ) | (0.49 | ) | |||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 15.26 | $ | 14.31 | $ | 14.13 | $ | 7.17 | $ | 14.13 | $ | 940 | $ | 14.45 | ||||||||||||||
Costs applicable to sales per realized ounce | $ | 14.69 | $ | 13.94 | $ | 14.24 | $ | 14.26 | ||||||||||||||||||||
Inventory adjustments | (0.92 | ) | (0.17 | ) | (0.56 | ) | $ | (0.47 | ) | |||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 13.77 | $ | 13.77 | $ | 13.68 | $ | 13.79 | ||||||||||||||||||||
Costs applicable to sales | $ | 477,945 | ||||||||||||||||||||||||||
Treatment and refining costs | 4,943 | |||||||||||||||||||||||||||
Sustaining capital | 61,199 | |||||||||||||||||||||||||||
General and administrative | 40,845 | |||||||||||||||||||||||||||
Exploration | 21,740 | |||||||||||||||||||||||||||
Reclamation | 7,468 | |||||||||||||||||||||||||||
Project/pre-development costs | 16,588 | |||||||||||||||||||||||||||
All-in sustaining costs | $ | 630,728 | ||||||||||||||||||||||||||
Silver equivalent ounces sold | 25,333,642 | |||||||||||||||||||||||||||
Kensington silver equivalent ounces sold | 6,649,320 | |||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 31,982,962 | |||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 19.72 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (0.49 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 19.23 | ||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 18.81 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (0.47 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 18.34 |
Silver | Gold | |||||||||||||||||||||||||||
(Dollars in thousands except per ounce amounts) | Palmarejo | Rochester | San Bartolomé | Endeavor | Total | Kensington | Total | |||||||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | $ | 64,397 | $ | 34,611 | $ | 34,610 | $ | 2,678 | $ | 136,296 | $ | 27,383 | $ | 163,679 | ||||||||||||||
Amortization | 16,235 | 5,955 | 4,993 | 1,586 | 28,769 | 8,458 | 37,227 | |||||||||||||||||||||
Costs applicable to sales | $ | 48,162 | $ | 28,656 | $ | 29,617 | $ | 1,092 | $ | 107,527 | $ | 18,925 | $ | 126,452 | ||||||||||||||
Silver equivalent ounces sold | 2,350,080 | 2,001,976 | 1,985,952 | 191,983 | 6,529,991 | 7,873,931 | ||||||||||||||||||||||
Gold ounces sold | 22,399 | |||||||||||||||||||||||||||
Costs applicable to sales per ounce | $ | 20.49 | $ | 14.31 | $ | 14.91 | $ | 5.69 | $ | 16.47 | $ | 845 | $ | 16.06 | ||||||||||||||
Inventory adjustments | (4.79 | ) | (0.49 | ) | (0.53 | ) | — | (2.04 | ) | (53 | ) | (1.84 | ) | |||||||||||||||
Adjusted costs applicable to sales per ounce | $ | 15.70 | $ | 13.82 | $ | 14.38 | $ | 5.69 | $ | 14.43 | $ | 792 | $ | 14.22 | ||||||||||||||
Costs applicable to sales per realized ounce | $ | 18.92 | $ | 13.20 | $ | 15.60 | $ | 15.05 | ||||||||||||||||||||
Inventory adjustments | (4.43 | ) | (0.45 | ) | (1.93 | ) | $ | (1.72 | ) | |||||||||||||||||||
Adjusted costs applicable to sales per realized ounce | $ | 14.49 | $ | 12.75 | $ | 13.67 | $ | 13.33 | ||||||||||||||||||||
Costs applicable to sales | $ | 126,452 | ||||||||||||||||||||||||||
Treatment and refining costs | 994 | |||||||||||||||||||||||||||
Sustaining capital | 18,492 | |||||||||||||||||||||||||||
General and administrative | 9,036 | |||||||||||||||||||||||||||
Exploration | 5,783 | |||||||||||||||||||||||||||
Reclamation | 1,549 | |||||||||||||||||||||||||||
Project/pre-development costs | 3,721 | |||||||||||||||||||||||||||
All-in sustaining costs | $ | 166,027 | ||||||||||||||||||||||||||
Silver equivalent ounces sold | 6,529,991 | |||||||||||||||||||||||||||
Kensington silver equivalent ounces sold | 1,343,940 | |||||||||||||||||||||||||||
Consolidated silver equivalent ounces sold | 7,873,931 | |||||||||||||||||||||||||||
All-in sustaining costs per silver equivalent ounce | $ | 21.09 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (1.84 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per silver equivalent ounce | $ | 19.25 | ||||||||||||||||||||||||||
All-in sustaining costs per realized silver equivalent ounce | $ | 19.76 | ||||||||||||||||||||||||||
Inventory adjustments | $ | (1.72 | ) | |||||||||||||||||||||||||
Adjusted all-in sustaining costs per realized silver equivalent ounce | $ | 18.04 |
1 Year Coeur Mining Chart |
1 Month Coeur Mining Chart |
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