Coeur Mining, Inc. Q3 FY2024 earnings call

• Strong Q3 results with free cash flow inflection point, driven by production increases, higher gold and silver prices. - Announced acquisition of Silvercrest with 1 million ounces of silver and 432,000 ounces of gold, expecting formal shareholder votes by year-end and close late Q1 2025. - Rochester on track to achieve full-year guidance, focusing on optimizing operations. - Palmarejo, Kensington, and Wharf all on track for strong finishes. - Paid down $50M of revolving credit, net debt to EBITDA ratio below 2x for the first time in three years.

Rochester: Production of silver and gold increased ~20% compared to prior quarter. Achieved targeted tons placed since July, with double-digit percentage decreases in mining, processing, and G&A costs. Palmarejo: Gold production up 8%, silver up 14%, generated strong free cash flow. Completed Hidalgo portal work and made progress on newly acquired claims. Kensington: Higher gold price drove $18M free cash flow in Q3. Underground development on track to wrap up by mid-2025. Wharf: Gold production set an all-time record high (nearly 34,000 ounces) in Q3, generating $49M free cash flow, with two new exploration targets showing strong potential.

• Reconfirmed company-wide full-year guidance ranges. - Expect strong Q4 with higher production, positive free cash flow, and further debt reduction. - Anticipate Silvercrest acquisition closing late Q1 2025. - Plan to fully repay revolving credit by mid-2025 and start building cash balance thereafter.

• Need for shareholder votes and regulatory approvals (e.g., Mexico's Copacay approval) for Silvercrest acquisition. - Uncertainties in metal price fluctuations impacting financial results.

Q: About Rochester's leach cycle tracking.

A: Recoveries are tracking as modeled based on crush sizes, with recoveries expected to improve as crush size is dialed in to the five-eighths target.

Q: Remaining hurdles for Silvercrest acquisition.

A: Both companies' shareholder votes around year-end, and obtaining Mexico's Copacay approval, with the transaction expected to close late Q1 2025.

Q: Cash balance and debt repayment.

A: Cash balance likely to stay in current range during revolver repayment, and start building post-revolver repayment by mid-2025.