Stronger quarter-over-quarter revenue and cost performance
Rochester expansion now complete; significant production increase now underway
Chicago, Illinois - November 8, 2023 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE)
today reported third quarter 2023 financial results, including revenue of $195 million and cash flow from
operating activities of $(2) million. The Company reported GAAP net loss from continuing operations of
$21 million, or $0.06 per share. On an adjusted basis1
, Coeur reported EBITDA of $31 million, cash flow
from operating activities before changes in working capital of $14 million and net loss from continuing
operations of $19 million, or $0.05 per share.
Key Highlights
• Increased revenue and adjusted EBITDA driven by stronger gold production and lower costs –
Revenue increased 10% and adjusted EBITDA increased 38% quarter-over-quarter, due to a 15%
quarter-over-quarter increase in gold production and a 13% quarter-over-quarter decline in adjusted
costs applicable to sales per gold ounce
• Rochester expansion project now complete – First production from the new leach pad and process
plant was achieved in mid-September. The legacy crushing circuit is now being decommissioned in
preparation of mining expected to begin in that location in 2024
• Material step-up in Rochester production now occurring – During the month of October,
Rochester recovered 537,000 ounces of silver and 8,050 ounces of gold, which is more than double the
year-to-date monthly average silver production and more than triple the year-to-date monthly average
gold production
• Gold production and cost guidance updated; silver guidance remains unchanged – A stronger
anticipated fourth quarter at Wharf is expected to offset adjusted gold production guidance at
Kensington. The low end of total 2024 production guidance remains unchanged and the overall range
has narrowed to 304,000 - 342,500 ounces. Additionally, Kensington cost guidance has been revised to
reflect the impact of revised production expectations. Silver full-year production guidance of 10 - 12 million ounces remains unchanged
• Balance sheet and hedging initiati .... see & read morte on
https://s201.q4cdn.com/254090064/files/doc_earnings/2023/q3/earnings-result/2023-3Q-Earnings-Release-Final.pdf