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Coeur d’Alene Mines: Coeur Reports First Quarter 2016 Results

The following excerpt is from the company's SEC filing.

14% Decline in Adjusted AISC

Drives 46% Growth in Quarterly Adjusted EBITDA

$34.6 million

Chicago, Illinois

- April 27, 2016 - Coeur Mining, Inc. (the “Company” or “Coeur”)

(NYSE: CDE) reported first quarter 2016 revenue of

$148.4 million

, adjusted EBITDA

, adjusted net loss

per share, and cash flow from operating activities of

$6.6 million

. The Company sold

3.5 million

ounces of silver and

79,091

ounces of gold and during the quarter.

Adjusted all-in sustaining costs per realized silver equiv alent ounce

$13.73

dropped 14% compared to the same quarter last year (9% decline assuming a constant 60:1 ratio). Adjusted costs applicable to sales per realized silver equivalent ounce

$11.08

declined 14% compared with the first quarter last year (12% decline assuming a constant 60:1 ratio). Adjusted costs applicable to sales per gold equivalent ounce

declined 10% compared to the first quarter last year.

Highlights

Silver production was

3.4 million

ounces and gold production was

78,072

ounces, or

8.1 million

silver equivalent ounces

, as previously announced on April 7, 2016

Silver sales were

ounces and gold sales were

8.3 million

Adjusted all-in sustaining costs were

. Using a 60:1 equivalence, adjusted all-in sustaining costs were

$16.05

per silver equivalent ounce

Adjusted costs applicable to sales were

. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce

$12.05

, a 16% increase from the fourth quarter 2015

Capital expenditures totaled

$22.2 million

, driven by development of the Jualin deposit at Kensington and the Guadalupe and Independencia underground deposits at Palmarejo

Cash and equivalents of

$173.4 million

Expected total consideration of $24.8 million from sales of non-core assets

"I am pleased with our strong cost performance in the first quarter, which is tracking at the low-end of cost guidance set at the beginning of the year," said Mitchell J. Krebs, Coeur's President and Chief Executive Officer. "These sustained lower operating costs, combined with the positive momentum we have seen in silver and gold prices so far this year, have led to a 16% increase in adjusted EBITDA

to $34.6 million.

"We have made significant progress repositioning our assets through industry-leading cost reductions, operational efficiency improvements, and the focus on higher-quality, higher-margin silver and gold ounces, which is reflected in this quarter's results. As underground production rates continue to accelerate at the Guadalupe and Independencia deposits at Palmarejo, ore placement rates at Rochester increase, development of higher-grade mineralization at Kensington progresses, and with the first full-year of contribution from the Wharf mine which we acquired last year, we are well-positioned to generate strong free cash flow later this year."

Financial Highlights (Unaudited)

(Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics)

1Q 2016

4Q 2015

3Q 2015

2Q 2015

1Q 2015

Revenue

Costs Applicable to Sales

General and Administrative Expenses

Net Income (Loss)

(303.0

Net Income (Loss) Per Share

Adjusted Net Income (Loss)

Weighted Average Shares

Cash Flow From Operating Activities

Capital Expenditures

Cash, Equivalents & Short-Term Investments

Total Debt

Average Realized Price Per Ounce – Silver

Average Realized Price Per Ounce – Gold

Silver Ounces Produced

Gold Ounces Produced

91,551

85,769

80,855

69,734

Silver Equivalent Ounces Produced

Silver Ounces Sold

Gold Ounces Sold

92,032

91,118

84,312

68,420

Silver Equivalent Ounces Sold

Silver Equivalent Ounces Sold (Realized)

Adjusted Costs Applicable to Sales per AgEq Ounce

Adjusted Costs Applicable to Sales per Realized AgEq Ounce

Adjusted Costs Applicable to Sales per AuEq Ounce

Adjusted All-in Sustaining Costs per AgEq Ounce

Adjusted All-in Sustaining Costs per Realized AgEq Ounce

Financial Results

The Company realized average silver and gold prices of

$15.16

$1,178

during the first quarter, which were 6% and 8% higher, respectively, compared with the fourth quarter and 10% and 2% lower, respectively, compared to last year's first quarter.

First quarter revenue decreased 10% compared with the fourth quarter and 3% compared with the first quarter 2015 to

, primarily due to fewer silver and gold ounces sold from Palmarejo as a result of reduced mining rates as the operation transitions from predominantly open pit mining to entirely higher-grade underground mining. Production began from the Independencia deposit in late January and mining rates are expected to climb during each remaining quarter of the year. Silver contributed

of metal sales and gold contributed

during the first quarter.

First quarter general and administrative expenses were

$8.3 million

, 6% lower compared to the first and fourth quarters last year. First quarter capital expenditures of

were 26% lower compared to the fourth quarter and 26% higher than the first quarter last year due to development of the Jualin deposit at Kensington and development of the Guadalupe and Independencia deposits at Palmarejo. First quarter

exploration expense totaled

$1.7 million

for discovery of new silver and gold mineralization, which was flat compared to the fourth quarter and 59% lower than the first quarter 2015.

First quarter adjusted EBITDA

, a 16% increase compared to the fourth quarter, primarily due to lower operating costs and higher metal prices, and up 46% compared to the first quarter last year as a result of lower costs and the addition of the Wharf mine. At March 31, 2016, LTM adjusted EBITDA

$126.5 million

, an 8% increase from year-end 2015 and a 58% increase from the same period last year.

Adjusted net loss

per share, in the first quarter, compared to an adjusted net loss

of $38.6 million, or $0.27 per share, in the fourth quarter and $19.2 million, or $0.19 per share, in the first quarter 2015. The first quarter adjusted net loss primarily excludes fair value adjustments to royalty obligations, a $3.9 million reduction in carrying value of the Endeavor silver stream and El Gallo royalty, and stock-based compensation. First quarter cash flow from operating activities was

, lower than the fourth quarter 2015 as a result of lower metal sales and a $16.6 million increase in working capital, primarily due to payment of accrued interest and an increase in ore inventory on the leach pad at Rochester.

Operations

Highlights of first quarter 2016 results for each of the Company's operating segments are provided below.

Palmarejo, Mexico

(Dollars in millions, except per ounce amounts)

Underground Operations:

Tons mined

215,642

189,383

190,399

172,730

149,150

Average silver grade (oz/t)

Average gold grade (oz/t)

Surface Operations:

35,211

102,018

247,071

257,862

281,481

Processing:

Total tons milled

246,533

301,274

427,635

435,841

451,918

Average recovery rate – Ag

Average recovery rate – Au

Silver ounces produced (000's)

Gold ounces produced

14,668

14,326

22,974

18,127

15,495

Silver equivalent ounces produced

Silver ounces sold (000's)

Gold ounces sold

12,899

18,719

25,000

15,706

13,793

Silver equivalent ounces sold

(realized) (000's)

Revenues

Costs applicable to sales

per AgEq ounce

$11.54

$13.48

$11.40

$13.21

$14.56

Adjusted costs applicable to sales per realized AgEq ounce

$10.18

$12.04

$10.01

$12.07

$13.52

Exploration expense

Cash flow from operating activities

$(0.2)

Sustaining capital expenditures

$(1.4)

Development capital expenditures

Total capital expenditures

Free cash flow (before royalties)

$(5.4)

$(1.0)

$(9.4)

Royalties paid

$(14.5)

$(10.8)

$(19.8)

Production was in-line with expectations as the transition to lower-tonnage, higher-grade, higher-margin underground operations from two ore sources - Guadalupe and Independencia - remains on-track

First quarter adjusted costs applicable to sales per realized silver equivalent ounce

, a 15% decline from the fourth quarter as a result of fewer waste tons mined and lower processing costs. Using a 60:1 equivalence, adjusted costs applicable to sales per silver equivalent ounce

Recent modifications to the processing plant have significantly improved recovery rates. First quarter recovery rates were

for silver and

for gold compared to

, respectively, during last year's first quarter

With active open pit mining operations to be completed in the second quarter 2016, underground production levels are expected to increase throughout the year as mining rates from Independencia accelerate to 1,000 tons per day by year-end 2016. 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 3.9 - 4.4 million ounces of silver and 67,000 - 72,000 ounces of gold at costs applicable to sales per silver equivalent ounce

of $12.50 - $13.50 (based on a 60:1 equivalence)

Rochester, Nevada

Ore tons placed

4,374,459

4,411,590

4,128,868

3,859,965

4,013,879

10,460

11,564

10,892

16,411

13,721

11,672

11,587

13,537

15,085

17,754

Adjusted costs applicable to sales per AgEq ounce

$12.61

$12.37

$12.01

$12.95

$11.29

$11.19

$10.89

$10.94

$11.91

$(1.2)

$(10.4)

Silver equivalent production

was 14% lower than the prior quarter due to poor weather and timing of recoveries from the Stage III leach pad. Production levels increased significantly in March as expected and are anticipated to continue to climb throughout the year

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 second quarter 2016

In 2016, Rochester is expected to produce 4.8 - 5.3 million ounces of silver and 48,000 - 55,000 ounces of gold at costs applicable to sales per silver equivalent ounce

of $11.25 - $12.25 (based on a 60:1 equivalence)

Kensington, Alaska

Tons milled

159,360

159,666

165,198

170,649

164,951

31,974

33,713

28,799

29,845

33,909

31,648

29,989

28,084

36,607

36,873

per gold ounce

$(5.0)

Consistent production and costs achieved in the first quarter with 31,974 gold ounces produced at adjusted costs applicable to sales per gold ounce

Development of the high-grade Jualin deposit is progressing and is over one-third complete

In 2016, Kensington is expected to produce 115,000 - 125,000 ounces of gold at costs applicable to sales per gold ounce

of $825 - $875

Wharf, South Dakota

974,663

1,147,130

1,149,744

887,409

415,996

Average plant recovery rate – Au

20,970

31,947

23,104

16,472

Gold equivalent ounces produced

21,186

32,231

23,427

16,794

22,872

31,202

24,815

17,131

Gold equivalent ounces sold

23,122

31,485

25,132

17,348

$(7.2)

$(7.3)

Lower production compared to prior quarter as expected due to timing of recoveries from the current leach pad. Higher production is expected during remainder of 2016

in the first quarter. Process plant efficiencies have led to significantly higher plant recovery rates since Coeur acquired the operation in February 2015, which have positively impacted unit costs

In 2016, Wharf is expected to produce 90,000 - 95,000 ounces of gold at costs applicable to sales per gold equivalent ounce

of $650 - $750

San Bartolomé, Bolivia

407,806

475,695

373,201

457,232

406,951

per silver ounce

$12.56

$12.48

$14.41

$13.26

$14.47

Adjusted costs applicable to sales per silver ounce

in the first quarter, consistent with the prior quarter and down 13% compared the to the same quarter last year as a result of the recent increase in lower-cost, higher-grade, third-party ore purchases

Approximately one-third of first quarter silver production was derived from higher-grade, third-party ore purchases. Coeur expects the proportion to remain between 25 - 30% during the remainder of 2016

Average recovery rate increased from 84.9% in the fourth quarter to 93.1% in the first quarter, partially as a result of process improvements, including the recently implemented oxygen injection system in the agitated leach circuit

In 2016, San Bartolomé is expected to produce 5.8 - 6.1 million ounces of silver at costs applicable to sales per silver ounce

of $13.50 - $14.25

Coeur Capital

86,863

198,927

191,913

191,175

185,299

Metal sales

Royalty revenue

Costs applicable to sales (Endeavor silver stream)

There are now three cash-flowing royalties and streams, one non-cash-flowing royalty, 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 March 31, 2016, the Company has received 6.2 million ounces

Silver production received from the stream on the Endeavor mine declined following a decision by the operator to significantly cut production due to lower lead and zinc prices

First quarter exploration expense totaled

. Coeur's exploration program used 3 drill rigs during the first quarter, including one drill at each of Palmarejo, Kensington, and Rochester. This work resulted in completion of over 12,579 feet (3,834 meters) of combined core and reverse circulation drilling. Drilling programs gained momentum toward the end of the quarter, with the second and third quarters expected to be the most active for exploration drilling.

Exploration expense is expected to total $11 - $13 million in 2016, with an additional $11 - $13 million of capital allocated to resource conversion. Exploration continues to be driven by the focus on the discovery of high-grade deposits located near existing operations, with the near-term focus on:

Expanding resources in the Guadalupe-Independencia corridor, including deeper areas of the Guadalupe and Independencia deposits and the recently identified Los Bancos and Nación veins, as well as drilling at the nearby La Bavisa vein

Infill and expansion drilling of the higher-grade East Rochester deposit, which is expected to be the focus of a revised economic analysis in 2016

Underground infill and expansion drilling of the high-grade Jualin deposit at Kensington, as well as four zones within the Kensington Main deposit, proximal to current mining activities

Non-Core Asset Sales

On March 31, 2016, Coeur sold its 2.0% net smelter returns "NSR" royalty on the Cerro Bayo mine to the operator, Mandalay Resources Corporation, for total consideration valued at approximately $5.7 million on the closing date, consisting of $4.0 million in cash and 2.5 million Mandalay shares

On April 19, 2016, Coeur closed the sale of its 2.5% NSR royalty on the La Cigarra project to Kootenay Silver Inc. for total consideration valued at approximately $3.6 million on the closing date, consisting of $500,000 in cash and 9.6 million Kootenay shares.

On April 19, 2016, Coeur sold its tiered NSR royalty on the El Gallo mine to the operator, a subsidiary of McEwen Mining Inc., for total consideration of approximately $6.3 million, including $1 million in contingent consideration payable in mid-2018.

Coeur also entered into a definitive agreement to sell its Martha assets in Argentina to Hunt Mining Corp. for total cash consideration of $3.0 million, including $1.5 million at the time of closing and $1.5 million on the one-year anniversary of the closing. The transaction is expected to close in the second quarter of 2016.

Coeur has reached principal terms to sell its interest in the royalty on the Correnso mine for expected consideration of $5.5 million (on a 100% basis after completing the buyout of Coeur's joint venture partner in New Zealand), plus a contingent payment of $700,000 payable in 2017 tied to resource conversion. The transaction is subject to negotiation and execution of definitive agreements and is expected to close in the second quarter 2016.

Full-Year 2016 Outlook

Coeur's 2016 guidance is shown below. Companywide production and cost guidance is unchanged from the original guidance provided on February 10, 2016. Following a decision by the operator of the Endeavor mine to significantly curtail production due to lower lead and zinc prices, Coeur revised the production outlook from the Endeavor silver stream lower but expects to increase production at Palmarejo, Rochester, and San Bartolomé for the remainder of 2016, leaving total silver and silver equivalent production guidance unchanged from the February 10, 2016 guidance.

2016 Production Outlook

(silver and silver equivalent ounces in thousands)

3,875 - 4,400

7,895 - 8,720

4,750 - 5,250

7,630 - 8,550

5,750 - 6,050

175 - 200

6,900 - 7,500

80 - 100

5,480 - 5,800

14,630 - 16,000

320,000 - 347,000

33,830 - 36,820

2016 Cost Outlook

(dollars in millions, except per ounce amounts)

2016 Guidance

2015 Result

Costs Applicable to Sales per Silver Equivalent Ounce

Palmarejo

$13.03

Rochester

$12.36

Costs Applicable to Sales per Silver Ounce

San Bartolomé

$13.63

Costs Applicable to Sales per Gold Ounce

Kensington

Costs Applicable to Sales per Gold Equivalent Ounce

Wharf

$90 - $100

$28 - $32

Exploration Expense

All-in Sustaining Costs per Silver Equivalent Ounce

$16.00 - $17.25

$16.16

Conference Call Information

Coeur will report its full operational and financial results for first quarter 2016 on April 27, 2016 after the New York Stock Exchange closes for trading. There will be a conference call on April 28, 2016 at 11:00 a.m. Eastern time.

Dial-In Numbers: (855) 560-2581 (US)

(855) 669-9657 (Canada)

(412) 542-4166 (International)

Conference ID: Coeur Mining

A replay of the call will be available through May 13, 2016.

Replay numbers:

(877) 344-7529 (US)

(855) 669-9658 (Canada)

(412) 317-0088 (International)

Conference ID: 100 83 340

About Coeur

Coeur Mining is the largest U.S.-based silver producer and a significant gold producer with five precious metals mines in the Americas employing approximately 2,000 people. Coeur produces from its wholly owned operations: the Palmarejo silver-gold complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the San Bartolomé silver mine in Bolivia. The Company also has a non-operating interest in the Endeavor mine in Australia in addition to royalties on the Zaruma mine in Ecuador and the Correnso mine in New Zealand. In addition, the Company has two silver-gold exploration projects - the La Preciosa project in Mexico and the Joaquin project in Argentina. The Company also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. The Company owns strategic investment positions in several silver and gold development companies with projects in North and South America.

Cautionary Statement

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated cash flow, production, costs, capital expenditures, expenses, mining rates, recovery rates, development activity at Palmarejo and Kensington, permitting and expansion projects at Rochester, ore purchases at San Bartolomé, and exploration efforts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that anticipated production, cost and expense levels are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeur's production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages (including those involving third parties), the uncertainties inherent in the estimation of gold and silver reserves and resources, changes that could result from Coeur's future acquisition of new mining properties or businesses, the absence of control over and reliance on third parties to operate mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of access to any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent reports on Forms 10-K and 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

Dana Willis, Coeur's Director, Resource Geology and a qualified person under Canadian National Instrument 43-101, supervised the preparation of the scientific and technical information concerning Coeur's mineral projects in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, Canadian investors should refer to the Technical Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.

Non-U.S. GAAP Measures

We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non-U.S. GAAP financial measures, including adjusted EBITDA, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce, all-in sustaining costs, and adjusted all-in sustaining costs. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe adjusted EBITDA, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce, all-in sustaining costs, and adjusted all-in sustaining costs are important measures in assessing the Company's overall financial performance.

1. Adjusted EBITDA, adjusted net income (loss), all-in sustaining costs, adjusted all-in sustaining costs, costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce), and adjusted costs applicable to sales per silver equivalent ounce are non-GAAP measures. Please see tables in the Appendix for the reconciliation to U.S. GAAP. For purposes of silver and gold equivalence, a 60:1 silver to gold ratio is assumed except where noted as average realized prices.

2. Operating cash flow is after a $16.6 million increase in working capital.

3. Includes capital leases. Net of debt issuance costs and premium received.

4. Free cash flow is defined as cash flow from operating activities less capital expenditures and royalty payments.

For Additional Information:

Rebecca Hussey, Manager, Investor Relations

(312) 489-5827

www.coeur.com

Coeur Mining, Inc. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Loss)

Three months ended March 31,

In thousands, except share data

148,387

152,956

COSTS AND EXPENSES

Costs applicable to sales(1)

101,555

115,062

Amortization

27,964

33,090

General and administrative

Write-downs

Pre-development, reclamation, and other

Total costs and expenses

148,176

168,015

OTHER INCOME (EXPENSE), NET

Fair value adjustments, net

(8,695

(4,884

Interest expense, net of capitalized interest

(11,120

(10,765

Other, net

(2,511

Total other income (expense), net

(18,501

(18,160

Income (loss) before income and mining taxes

(18,290

(33,219

Income and mining tax (expense) benefit

(2,106

NET INCOME (LOSS)

(20,396

(33,287

OTHER COMPREHENSIVE INCOME (LOSS), net of tax:

Unrealized gain (loss) on equity securities, net of tax of $(1,011) and $578 for the three months ended March 31, 2016 and 2015, respectively

Reclassification adjustments for impairment of equity securities, net of tax of $(586) for the three months ended March 31, 2015

Reclassification adjustments for realized loss on sale of equity securities

Other comprehensive income (loss)

(18,765

(33,274

NET INCOME (LOSS) PER SHARE

Diluted

Condensed Consolidated Statements of Cash Flows

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income (loss)

Adjustments:

Accretion

Deferred income taxes

(2,105

(2,184

Stock-based compensation

Impairment of equity securities

(1,435

Changes in operating assets and liabilities:

Receivables

Prepaid expenses and other current assets

(1,327

Inventory and ore on leach pads

(7,822

Accounts payable and accrued liabilities

(13,574

(15,758

CASH PROVIDED BY OPERATING ACTIVITIES

(3,449

CASH FLOWS FROM INVESTING ACTIVITIES:

(22,172

(17,620

Acquisitions, net

(102,018

(1,730

Purchase of investments

Sales and maturities of investments

CASH USED IN INVESTING ACTIVITIES

(18,646

(121,417

CASH FLOWS FROM FINANCING ACTIVITIES:

Issuance of notes and bank borrowings

53,500

Payments on debt, capital leases, and associated costs

(5,971

(8,594

Gold production royalty payments

(9,131

(10,368

CASH PROVIDED BY FINANCING ACTIVITIES

(15,382

34,115

Effect of exchange rate changes on cash and cash equivalents

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

(27,325

(91,274

Cash and cash equivalents at beginning of period

200,714

270,861

Cash and cash equivalents at end of period

173,389

179,587

Condensed Consolidated Balance Sheets

December 31,

ASSETS

In thousands, except share data

CURRENT ASSETS

82,929

85,992

78,597

81,711

Ore on leach pads

72,703

67,329

13,130

10,942

420,748

446,688

NON-CURRENT ASSETS

Property, plant and equipment, net

220,948

195,999

Mining properties, net

574,104

589,219

49,294

44,582

Restricted assets

13,221

11,633

Equity securities

24,114

24,768

Deferred tax assets

14,389

14,892

TOTAL ASSETS

1,325,098

1,332,489

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

46,955

48,732

Accrued liabilities and other

42,037

53,953

16,801

10,431

Royalty obligations

21,183

24,893

Reclamation

130,439

140,080

NON-CURRENT LIABILITIES

494,300

479,979

83,902

83,197

Deferred tax liabilities

146,845

147,132

Other long-term liabilities

58,118

55,761

789,519

770,933

Common stock, par value $0.01 per share; authorized 300,000,000 shares, issued and outstanding 153,240,428 at March 31, 2016 and 151,339,136 at December 31, 2015

Additional paid-in capital

3,026,871

3,024,461

Accumulated other comprehensive income (loss)

(2,091

(3,722

Accumulated deficit

(2,621,172

(2,600,776

405,140

421,476

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

Adjusted EBITDA Reconciliation

(Dollars in thousands except per share amounts)

LTM 1Q 2016

LTM 1Q 2015

(354,292

(303,000

(14,219

(16,677

(1,151,980

46,058

11,758

12,446

10,734

45,257

(3,810

(1,314

(14,241

Income tax provision (benefit)

(24,225

(17,811

(8,260

(454,487

138,625

36,190

35,497

38,974

155,067

(197,644

19,480

(287,104

34,357

35,623

(1,399,019

13,147

(1,391

(1,546

(5,786

(2,754

(10,170

Corporate reorganization costs

Transaction-related costs

Inventory adjustments

14,738

317,783

313,337

1,472,721

126,489

34,565

29,820

31,365

34,712

80,245

23,690

Adjusted Net Income (Loss) Reconciliation

(2,446

(3,384

(2,618

Accretion of royalty obligation

276,510

Gain on sale of non-core assets

(1,880

(Gain) loss on debt extinguishments

(16,187

Deferred tax asset valuation allowance

Foreign exchange (gain) loss on deferred taxes

(1,288

(1,844

(10,092

(1,305

Adjusted net income (loss)

(6,617

(38,568

(21,814

(14,526

(19,232

Adjusted net income (loss) per share

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce

for Three Months Ended March 31, 2016

In thousands except per ounce amounts

Costs applicable to sales, including amortization (U.S. GAAP)

28,327

27,798

19,251

76,331

32,767

19,512

52,279

128,610

14,655

12,400

27,055

21,038

22,485

17,497

61,676

24,418

15,461

39,879

1,702,290

1,779,377

1,384,391

122,694

4,988,752

8,274,952

54,770

Costs applicable to sales per ounce

Adjusted costs applicable to sales per ounce

Costs applicable to sales per realized ounce

Adjusted costs applicable to sales per realized ounce

Treatment and refining costs

16,710

Project/pre-development costs

All-in sustaining costs

134,747

Kensington and Wharf silver equivalent ounces sold

3,286,200

Consolidated silver equivalent ounces sold

All-in sustaining costs per silver equivalent ounce

Adjusted all-in sustaining costs per silver equivalent ounce

All-in sustaining costs per realized silver equivalent ounce

for Three Months Ended December 31, 2015

47,207

27,716

24,372

101,874

33,298

25,033

58,331

160,205

18,200

16,749

34,949

39,781

22,772

20,061

83,674

23,795

17,787

41,582

125,256

2,588,185

1,820,471

1,564,155

192,768

6,165,579

9,885,699

29,988

32,014

62,002

16,567

160,985

3,720,120

for Three Months Ended September 30, 2015

42,710

32,167

21,009

97,270

33,472

23,419

56,891

154,161

19,783

14,141

33,924

34,093

25,436

17,483

77,487

24,973

17,777

42,750

120,237

2,924,947

2,116,353

1,201,959

95,260

6,338,519

9,512,459

52,899

146,569

3,173,940

for Three Months Ended June 30, 2015

Total Silver

Total Gold

Total Combined

39,158

29,779

24,428

96,569

40,136

20,123

60,259

156,828

21,556

12,684

16,175

37,731

30,112

24,392

19,157

75,013

27,452

16,632

44,084

119,097

2,169,960

2,024,856

1,439,388

209,130

5,843,334

9,067,614

53,738

13,625

152,344

3,224,280

for Three Months Ended March 31, 2015

41,824

38,235

23,818

105,769

40,973

146,742

20,126

11,554

31,680

34,491

31,392

19,127

85,643

29,419

2,157,612

2,416,103

1,289,867

117,863

5,981,445

8,193,825

10,909

148,358

Kensington silver equivalent ounces sold

2,212,380

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Quarterly report [Sections 13 or 15(d)] - April 27, 2016
Coeur d'Alene Mines: Form, Schedule Or Registration Statement No Filing Party: Date Filed: Explanatory Note - April 18, 2016
Coeur d'Alene Mines: Coeur Reports First Quarter 2016 Production Results Chicago, Illinois - April 7, 2016
Automatic shelf registration statement of securities of well-known seasoned issuers - March 29, 2016