Coeur’s Five Operations Contribute To Record Second Quarter

CHICAGO, IL – Coeur Mining, Inc. reported strong production and cost performance drove margin expansion. Each of Coeur’s five operations generated strong production increases and delivered positive free cash flow. Quarterly silver production of 4.7 million ounces was 27% higher quarter-over-quarter and 79% higher year-over-year. Gold production increased 25% quarter-over-quarter and 38% year-over-year to 108,487 ounces. This is the fourth consecutive quarter of positive free cash flow, which increased more than eightfold versus the prior quarter to a record $146 million. Adjusted EBITDA increased 64% versus the prior quarter to a record $244 million, bringing the last twelve-month (LTM) total to $635 million. Fifth consecutive quarter of net income, which totaled a record $71 million.
The Rochester Mine, Nevada, crushed ore rates continued to increase – The newly-expanded Rochester silver and gold operation in Nevada crushed 6.7 million tons during the quarter, representing an increase of 24% compared to the previous quarter, reflecting steady increases in crushing circuit availability. Rochester silver and gold production increased 50% and 79%, respectively, compared to the second quarter of 2024 and remains on track to deliver on its full-year guidance ranges.
Reaffirming full-year production and cost guidance – Coeur remains positioned to deliver guided 2025 production of 380,000 – 440,000 ounces of gold and 16.7 – 20.3 million ounces of silver, which represent year-over-year expected increases of 20% and 62% for gold and silver, respectively.
“Coeur’s record second quarter reflects strong contributions from all five of our North American gold and silver operations, including the first full quarter from the recently acquired Las Chispas mine, in Mexico,” said Mitchell J. Krebs, Chairman, President and Chief Executive Officer. “Together with the benefit of higher gold and silver prices, we saw a step change in our financial results in the quarter, including an impressive $146 million of free cash flow, while we eliminated the remaining balance on our RCF2 and began buying back shares.
Looking ahead to the second half of the year, we expect even higher gold and silver production levels consistent with our re-affirmed 2025 production and cost guidance. We remain uniquely positioned to leverage higher gold and silver prices, which is expected to lead to over $800 million of full-year 2025 adjusted EBITDA and over $400 million of full-year 2025 free cash flow.”