A “targeted” counterattack last night… the 10-year Treasury yield is a problem for stocks… home sales fall thanks to expensive mortgages… silver might shine more than goldIt continues to be a busy news cycle. Let’s follow up yesterday’s headline-driven Digest with another tour through the top events impacting investor portfolios.First up is last night’s Israeli counterattack on Iran.A “limited strike” to avoid escalationOvernight, Israel launched a targeted strike in the area around Isfahan in central Iran. ...

Coeur Mining, Inc. (CDE) announced that its newly expanded Rochester silver and gold mine in Nevada achieved commercial production.On Mar 7, the new three-stage crushing circuit and truck load-out facility were officially commissioned. Since then, the crusher circuit has operated at an average throughput of more than 70,000 tons per day and has topped 88,000 tons per day. This led to the declaration of commercial production by the end of the first quarter.Backed by this, the company additionally stated that ...

iShares MSCI Global Silver and Metals Miners ETF (SLVP) topped the list of best-performing ETFs in the past month, gaining 27.4%. Being a leveraged play, metal miners tend to experience more gains than their bullion cousins in a rising metal market (read: Gold ETFs Outperform in March).Though most of the stocks in the fund’s portfolio delivered strong returns, a few were up more than 25% in a month. These include Coeur Mining Inc. (CDE) , Endeavour Silver Corporation (EXK) , Silvercorp Metals (SVM) , Seabri ...

CHICAGO--(BUSINESS WIRE)--Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today announced that it has arranged a private placement (the “Offering”) of 7,704,725 flow-through common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “flow-through shares”) for gross proceeds of approximately $25 million (C$34 million), resulting in a 27% premium. The offering will be subject to a four-month hold period. The pr ...

11:00 a.m. ET, February 22, 2024 This presentation contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements involving strategic priorities and company strategies, growth, anticipated production, costs and expenses, exploration and development efforts, operations, expectations and initiatives at Palmarejo, Rochester, Kensington, Wharf and Silvertip including the Rochester expansion project, inflation and other cost pressures, capit ...

Financial Data and Key Metrics Changes - Coeur Mining's fourth quarter represented the strongest quarter in over three years, with revenues increasing by 35% due to a 29% rise in gold production and a 34% rise in silver production [1] - Adjusted EBITDA more than doubled, and fourth quarter operating cash flow reached its highest level since late 2020 [1] - The net debt to adjusted EBITDA ratio improved to 3.4 times from 4 times at the end of the third quarter [16] Business Line Data and Key Metrics Changes - Rochester produced 1.3 million ounces of silver and 20,000 ounces of gold in the fourth quarter, marking quarter-over-quarter increases of 120% and 345% respectively [27] - Palmarejo delivered over $15 million of free cash flow in the fourth quarter, its highest mark of the year, despite challenges from inflation and a strong peso [26] - Kensington showed a good recovery with expectations for higher gold production in 2024, following a strong fourth quarter [30] Market Data and Key Metrics Changes - The company anticipates lower metal sales in the first quarter due to the ramp-up at Rochester and Wharf's seasonally driven slower first quarter [36] - The exploration investment for 2024 is expected to be between $40 million to $50 million for scout and expansion drilling, and $7 million to $13 million for infill drilling [11] Company Strategy and Development Direction - The company is focused on significant U.S.-based production growth, particularly in silver, and transitioning to positive free cash flow while reducing debt [40] - Continued investment in high-return, high-impact exploration remains a key differentiator for Coeur, especially as many companies in the sector have underinvested [23] Management's Comments on Operating Environment and Future Outlook - Management highlighted that the last three years represented a period of heavy investment, and they are now at an inflection point with expected results from these investments [18] - The company is optimistic about achieving commercial throughput levels at Rochester by the end of the second quarter [28] Other Important Information - The company completed an extension of its revolving credit facility through February 2027, indicating strong external confidence from lenders [38] - Fourth quarter capital expenditures declined by 17% compared to the previous quarter due to timing of final contractor payments [37] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with a note of appreciation for participants [51][52]

CHICAGO--(BUSINESS WIRE)--Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2023 proven and probable reserves of 3.2 million ounces of gold and 243.9 million ounces of silver, net of depletion. Measured and indicated resources totaled 3.2 million ounces of gold, 196.3 million ounces of silver, 1,517 million pounds of zinc and 768.7 million pounds of lead, reflecting year-over-year increases for all metals driven by additions at Palmarejo, Rochester, Wharf and Silvertip. Inf ...

Mineral Reserves and Resources - The company anticipates significant mineral reserve and resource estimates, with ongoing exploration efforts and capital expenditures planned for Rochester, Kensington, and Silvertip[59]. - The accuracy of mineral reserve and resource estimates is subject to uncertainties, and declines in market prices may render certain reserves uneconomic to exploit[66]. - Mineral reserve and resource estimates are subject to uncertainties and may require adjustments based on geological findings and market conditions, affecting operational plans[66]. - Key assumptions and parameters used to estimate mineral reserves and resources are detailed in the Technical Report Summaries included in the Form 10-K[84]. - Data verification procedures are in place to assess the accuracy of mineral estimates, considering various relevant factors[84]. Commodity Price Volatility - The high and low prices for gold and silver during the 12 months ended December 31, 2023, reflect the volatility of these commodities, influenced by factors such as U.S. dollar strength and geopolitical conditions[63]. - Operating costs are affected by input commodity prices, which are volatile and can fluctuate due to global competition and inflation, potentially impacting the company's operations and cash flows[64]. - The price of silver increased by 5% between April 5, 2023, and April 14, 2023, followed by a decrease of 5% on April 19, 2023, illustrating short-term price volatility not reflective of the company's operational performance[65]. - Significant declines in metal prices or failure to control production costs may lead to the suspension of mining operations, adversely affecting financial results[79]. Operational Challenges - The ramp-up of the Silvertip exploration property has been slower and less profitable than anticipated due to mill availability and maintenance challenges, as well as deteriorating market conditions for zinc and lead[73]. - The company faces risks related to supply chain disruptions from geopolitical unrest and natural disasters, which could impact commodity prices and operational stability[78]. - The company relies on refiners and smelters for processing and selling its products, and disruptions in these services could impact revenue generation[68]. Environmental and Compliance Expenditures - The company expects environmental compliance expenditures in 2024 to range from $10.4 million to $11.4 million[41]. - The company maintains insurance policies against property loss and business interruption, but coverage for environmental risks is limited, which could lead to significant liabilities[69]. Employee and Community Engagement - Employee participation in the 2023 culture assessment survey was 84%, exceeding industry benchmarks[22]. - The average employee earns over 40% more than the average employee in their local markets according to industry benchmarking[50]. - Over 60% of new hires since 2018 have come from local communities, with over 40 apprenticeships and internships provided in 2023[54]. - The company has maintained an average employee age of 40 years since 2018, with 33% of the workforce under 40[23]. - 12% of employees are female, up from 10% in 2020, with over 60% of female employees in supervisory or higher-level positions[24]. - The company has invested over 22,500 cumulative hours in leadership training and personal development for nearly 200 employees through the IMPACT training program[25]. Project Developments - The construction of the Rochester mine's significant expansion project (POA 11) was completed in Q4 2023, supporting an extended mine life[37]. - The Kensington mine received a favorable final Record of Decision for its Plan of Operations Amendment 1 on February 24, 2022, allowing for increased tailings and waste rock storage capacity[37]. - The company is evaluating the acquisition of mining concessions from a subsidiary of Fresnillo plc adjacent to the existing Palmarejo site, which may enhance growth opportunities[71].

The prospects of the Zacks Mining - Non Ferrous industry look bleak as weak demand in China has been weighing on metal prices. Industry players are also grappling with inflated costs, labor shortages and supply-chain issues. However, the demand for non-ferrous metals is expected to be supported by the energy-transition trend, which will buoy the industry.Against this backdrop, we suggest keeping a close eye on companies like Southern Copper Corporation (SCCO) , Ero Copper (ERO) , Coeur Mining (CDE) and Cent ...

CHICAGO--(BUSINESS WIRE)--Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today provided an update on expansion-related activities taking place at its Rochester silver and gold operation in Nevada. Fourth quarter production reached record levels of approximately 1.3 million ounces of silver and 19,847 ounces of gold, which represented quarter-over-quarter increases of 120% and 345% and year-over-year increases of 38% and 71%, respectively. These materially higher production levels were driven by ...