Coeur Mining Delivers Another Quarter Of Record Results

CHICAGO, IL – Mitchell J. Krebs, Chairman, President and Chief Executive Officer of Coeur Mining, Inc., said, “The Company delivered another quarter of record financial results, driven by higher prices, balanced contributions from all five of our North American gold and silver operations along with overall strong cost control. Las Chispas experienced a particularly strong quarter, with the team continuing to exceed expectations in just its second full quarter of operations with the Company.”

Record quarterly production and solid cost performance – Operating strength across the portfolio together with higher gold and silver prices drove a second consecutive quarter of record results. Quarterly silver production of 4.8 million ounces was 1% higher quarter-over-quarter and 57% higher year-over-year. Gold production increased 3% quarter-over-quarter and 17% year-over-year to 111,364 ounces. Average realized prices for gold and silver increased 4% and 15%, respectively, compared to the second quarter, leading to further margin expansion.

Record quarterly financial results – Fifth consecutive quarter of positive free cash flow, which increased 29% versus the prior quarter to a record $189 million. Significantly bolstered liquidity position – Quarter-end cash and equivalents more than doubled to $266 million compared to the prior quarter-end. Year-to-date, the Company has repaid over $228 million of total debt and its net leverage ratio decreased to 0.1x at quarter-end with a strong net cash position expected at year-end. Nearly 10% of the Company’s share repurchase program has been completed at an average price of $11.79 per share. Full-year production and cost guidance refined – Coeur refined its full year 2025 production guidance ranges, resulting in a 1% increase in the midpoint of expected full year gold production to 415,250 ounces and a 2% decrease in the midpoint of expected full year silver production to 18.1 million ounces. Coeur also adjusted its full-year 2025 cost guidance lower at three of its five operations.

Third quarter 2025 revenue totaled $555 million compared to $481 million in the prior period and $314 million in the third quarter of 2024. The Company produced 111,364 and 4.8 million ounces of gold and silver, respectively, during the quarter. Metal sales for the quarter totaled 114,495 ounces of gold and 5.0 million ounces of silver. Gold and silver sales represented 65% and 35% of quarterly revenue, respectively, compared to 67% and 33% in the prior period. The Company’s U.S. operations accounted for approximately 55% of both third and second quarter revenue.

Third quarter gold and silver production increased to 16,540 ounces and 1.6 million ounces, respectively, compared to 16,271 gold ounces and 1.5 million silver ounces in the prior period. Production during the quarter benefited from higher mill throughput driven by the consumption of the remaining acquired stockpile and recovery of in-circuit inventory. 

Infill and expansion drilling of the Augusta vein (in the Gap Zone) commenced from the new underground ramp with excellent results received, including the discovery of the Promesa vein located between Augusta and William Tell. The high-grade Augusta discovery made earlier this year has now been traced over 450 meters along strike and 150 meters down dip, consistently yielding multi-kilo grade intercepts on a silver equivalent basis. The William Tell, William Tell Mini, North Las Chispas and La Sopresa veins continued to expand, supporting the potential for expansion of these resource zones. In the Babicanora Block, infill drilling delivered excellent results. In the fourth quarter, drilling is expected to continue on all veins detailed above and scout drilling is expected to commence on a number of targets across the district.