\n| \n Silver Ounces Sold<\/b><\/p>\n<\/td>\n | \n 2.6<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Financial Results<\/b><\/p>\n \nSecond quarter 2021 revenue totaled $214.9 million compared to $202.1 million in the prior period and $154.2 million in the second quarter of 2020. The Company produced 87,275 and 2.6 million ounces of gold and silver, respectively, during the quarter. Metal sales totaled 88,501 ounces of gold and 2.6 million ounces of silver.\n<\/p>\n \nAverage realized gold and silver prices for the quarter were $1,651 and $26.60 per ounce, respectively, compared to $1,664 and $26.19 per ounce in the prior period. Gold and silver sales accounted for 68% and 32% of quarterly revenue, respectively. The Company\u2019s U.S. operations accounted for approximately 60% of second quarter revenue, consistent with the prior period.\n<\/p>\n \nCosts applicable to sales2<\/sup> increased to $132.6 million, largely due to higher throughput rates, an increase in maintenance costs, higher consumable costs and a non-cash inventory charge at Rochester.\n<\/p>\n\nGeneral and administrative expenses for the quarter totaled $10.5 million compared to $11.6 million in the prior period, reflecting lower employee-related expenses. Full-year general and administrative expenses are expected to be slightly higher at $40 – $45 million (previous guidance of $37 – $41 million) largely driven by increased accruals for previously-granted long-term performance share awards.\n<\/p>\n \nCoeur invested approximately $18.6 million ($12.4 million expensed and $6.2 million capitalized) in exploration during the quarter, compared to roughly $14.9 million ($9.7 million expensed and $5.2 million capitalized) in the prior period, reflecting an increase in drilling activity across most sites. Notably, the Company completed approximately 320,400 feet (97,675 meters) of expansion and infill drilling during the period, establishing a new Company record. See the \u201cOperations\u201d and \u201cExploration\u201d sections for additional detail on the Company\u2019s exploration activities.\n<\/p>\n \nOperating costs related to COVID-19 mitigation and response efforts totaled $2.3 million during the second quarter, compared to $3.0 million in the prior period. These costs were primarily driven by employee-related expenses at Kensington and Palmarejo, and are included in \u201cPre-development, reclamation, and other expenses\u201d on the Company\u2019s income statement. Coeur continues to implement and maintain rigorous health and safety protocols across its operations and in surrounding communities aimed at limiting the exposure and transmission of COVID-19 while minimizing business interruptions.\n<\/p>\n \nThe Company recorded an income tax expense of $15.3 million during the second quarter. Cash income and mining taxes paid during the period totaled approximately $12.4 million.\n<\/p>\n \nQuarterly operating cash flow totaled $58.1 million compared to $(4.4) million in the prior period, largely driven by higher metal sales and favorable changes in working capital. Changes in working capital during the quarter were $26.6 million, compared to $(45.9) million in the prior period.\n<\/p>\n \nCapital expenditures during the second quarter were $78.2 million compared to $59.4 million in the prior period, primarily driven by increased investment at Rochester and Silvertip. Investment related to the POA 11 expansion project at Rochester totaled $33.2 million during the quarter, compared to $28.1 million in the first quarter. Sustaining and development capital expenditures accounted for approximately 38% and 62%, respectively, of the Company\u2019s total capital investment during the quarter.\n<\/p>\n \nThe Company satisfied the remaining $7.1 million obligation under its prepayment agreement at Kensington and exercised an option to receive an additional $15.0 million prepayment, resulting in a net cash inflow of approximately $7.9 million in the second quarter. Coeur expects the $15.0 million cash outflow under the arrangement to occur over the next two quarters.\n<\/p>\n Strategic Investment in Victoria<\/b><\/p>\n \nDuring the second quarter, Coeur entered into an agreement to acquire roughly 11.1 million outstanding common shares of Victoria (approximately 17.8% of issued and outstanding shares on an undiluted basis at time of transaction) from Orion Co-VI Ltd. (\u201cOrion\u201d) at a price of C$13.20 per share, reflecting a 5% discount to the trailing 30-day volume weighted price for the period ended May 7, 2021.\n<\/p>\n \nIn connection with the transaction, Orion received roughly 12.8 million shares of Coeur common stock (approximately 4.9% of issued and outstanding shares on an undiluted basis at time of transaction), based on the trailing 30-day volume weighted price of $9.17 per share, for the period ended May 7, 2021. The transaction was completed on May 14, 2021 for consideration of approximately $118.8 million. The value of Victoria\u2019s shares held by Coeur totaled approximately $164.7 million as of June 30, 2021.\n<\/p>\n Liquidity Update<\/b><\/p>\n \nMaintaining balance sheet flexibility remains a key element of Coeur\u2019s strategy. The Company ended the second quarter with total liquidity of approximately $389.1 million, including $124.1 million of cash and no borrowings under its $300.0 million revolving credit facility (\u201cRCF\u201d)4<\/sup>. Additionally, the aggregate borrowing capacity under its RCF may be increased by up to $100.0 million.\n<\/p>\n\nAs of June 30, 2021, the Company also had $174.4 million of strategic investments in equity securities and the full $100.0 million available under its at-the-market common stock offering program it established in April 2020.\n<\/p>\n Hedging Update<\/b><\/p>\n \nDuring the second quarter, the Company added to its hedge position by executing additional zero-cost collar hedges on 6,000 ounces of its expected 2022 gold production. Coeur previously completed its gold hedging program for 2021 and continues to proactively monitor market conditions to potentially layer in additional hedges on up to 50% of expected gold production in 2022. The Company\u2019s silver price exposure remains unhedged. An overview of the hedges currently implemented is outlined below:\n<\/p>\n \n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGold Ounces Hedged\n<\/p>\n<\/td>\n | \n \n79,350\n<\/p>\n<\/td>\n | \n \n132,000\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAvg. Ceiling ($\/oz)\n<\/p>\n<\/td>\n | \n \n$1,882\n<\/p>\n<\/td>\n | \n \n$2,038\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAvg. Floor ($\/oz)\n<\/p>\n<\/td>\n | \n \n$1,600\n<\/p>\n<\/td>\n | \n \n$1,630\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Rochester Expansion<\/b><\/p>\n \nThe Company continued to execute major construction activities on the POA 11 expansion project at Rochester during the second quarter, with overall progress approximately 31% complete at the end of the period. Key elements of the project timeline remain on schedule and are highlighted below:\n<\/p>\n \n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n Expected Start Date<\/b><\/p>\n<\/td>\n | \n Target Completion Date<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nLeach Pad (Incl. Ancillary Facilities)\n<\/p>\n<\/td>\n | \n \n2H 2020 \u2713\n<\/p>\n<\/td>\n | \n \nMid-2022\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMerrill-Crowe Process Plant\n<\/p>\n<\/td>\n | \n \n1H 2021 \u2713\n<\/p>\n<\/td>\n | \n \nYE 2022\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCrushing Circuit\n<\/p>\n<\/td>\n | \n \n1H 2021 \u2713\n<\/p>\n<\/td>\n | \n \nYE 2022\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSupporting Infrastructure\n<\/p>\n<\/td>\n | \n \n2H 2020 \u2713\n<\/p>\n<\/td>\n | \n \nMid-2022\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nCoeur began placing over-liner material on the Stage VI leach pad approximately six weeks ahead of schedule following the successful swap-out of the secondary crushing unit. The Company also mobilized a cement batch plant, began construction of a new high-voltage power line and started executing electrical substation upgrades during the period. Concrete foundation work for the Merrill-Crowe process plant and crusher corridor is expected to commence during the third quarter. Additionally, structural steel erection for the crusher corridor is expected to begin in early 2022.\n<\/p>\n \nAs of June 30, 2021, the Company has committed approximately $334 million of capital since the inception of the expansion project in the third quarter of 2020, including 76 executed contracts valued at approximately $309 million. There are six packages yet to be awarded, including two structural, mechanical, piping, electrical and instrumentation construction contracts for the Merrill-Crowe process plant and crushing circuit, respectively. The Company has begun to see signs of inflationary pressures on recent bids received for the remaining uncommitted contracts related to building materials, fuel and overall tightness in the construction market.\n<\/p>\n \nAdditionally, Coeur has elected to allocate approximately $20 million of additional capital investment to further enhance the project\u2019s economics and de-risk the execution of the project. The majority of this incremental capital is expected to be incurred in 2022.\n<\/p>\n \nThe Company is also reviewing additional optimization opportunities based on key learnings from HPGR-placed material onto the current Stage IV leach pad since late 2019. The results from this work are expected to be available during the second half of 2021.\n<\/p>\n \nCoeur secured a capital lease package for nearly $60 million during the quarter, higher than its original target of $50 million. The package is earmarked for planned equipment purchases for the project in 2021 and 2022, and has an interest rate of 5.20%.\n<\/p>\n Operations <\/b><\/p>\n \nSecond quarter 2021 highlights for each of the Company\u2019s operations are provided below.\n<\/p>\n Palmarejo, Mexico<\/b><\/p>\n\n\n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n 2Q 2021<\/b><\/p>\n<\/td>\n | \n 1Q 2021<\/b><\/p>\n<\/td>\n | \n 4Q 2020<\/b><\/p>\n<\/td>\n | \n 3Q 2020<\/b><\/p>\n<\/td>\n | \n 2Q 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Tons milled<\/b><\/p>\n<\/td>\n | \n 517,373<\/b><\/p>\n<\/td>\n | \n \n484,390\n<\/p>\n<\/td>\n | \n \n509,848\n<\/p>\n<\/td>\n | \n \n492,474\n<\/p>\n<\/td>\n | \n \n269,641\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 0.058<\/b><\/p>\n<\/td>\n | \n \n0.062\n<\/p>\n<\/td>\n | \n \n0.076\n<\/p>\n<\/td>\n | \n \n0.065\n<\/p>\n<\/td>\n | \n \n0.066\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average silver grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 3.94<\/b><\/p>\n<\/td>\n | \n \n4.07\n<\/p>\n<\/td>\n | \n \n4.30\n<\/p>\n<\/td>\n | \n \n4.37\n<\/p>\n<\/td>\n | \n \n4.46\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate \u2013 Au<\/b><\/p>\n<\/td>\n | \n 92.4%<\/b><\/p>\n<\/td>\n | \n \n95.7%\n<\/p>\n<\/td>\n | \n \n88.9%\n<\/p>\n<\/td>\n | \n \n91.3%\n<\/p>\n<\/td>\n | \n \n86.0%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate \u2013 Ag<\/b><\/p>\n<\/td>\n | \n 81.9%<\/b><\/p>\n<\/td>\n | \n \n81.3%\n<\/p>\n<\/td>\n | \n \n81.3%\n<\/p>\n<\/td>\n | \n \n82.8%\n<\/p>\n<\/td>\n | \n \n72.2%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n 27,595<\/b><\/p>\n<\/td>\n | \n \n28,605\n<\/p>\n<\/td>\n | \n \n34,511\n<\/p>\n<\/td>\n | \n \n29,296\n<\/p>\n<\/td>\n | \n \n15,223\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces produced (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 1,667<\/b><\/p>\n<\/td>\n | \n \n1,603\n<\/p>\n<\/td>\n | \n \n1,783\n<\/p>\n<\/td>\n | \n \n1,784\n<\/p>\n<\/td>\n | \n \n867\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n 30,516<\/b><\/p>\n<\/td>\n | \n \n25,687\n<\/p>\n<\/td>\n | \n \n35,359\n<\/p>\n<\/td>\n | \n \n27,252\n<\/p>\n<\/td>\n | \n \n16,924\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces sold (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 1,640<\/b><\/p>\n<\/td>\n | \n \n1,638\n<\/p>\n<\/td>\n | \n \n1,767\n<\/p>\n<\/td>\n | \n \n1,765\n<\/p>\n<\/td>\n | \n \n875\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce<\/b><\/p>\n<\/td>\n | \n $1,351<\/b><\/p>\n<\/td>\n | \n \n$1,462\n<\/p>\n<\/td>\n | \n \n$1,395\n<\/p>\n<\/td>\n | \n \n$1,446\n<\/p>\n<\/td>\n | \n \n$1,399\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per silver ounce<\/b><\/p>\n<\/td>\n | \n $26.71<\/b><\/p>\n<\/td>\n | \n \n$26.12\n<\/p>\n<\/td>\n | \n \n$24.45\n<\/p>\n<\/td>\n | \n \n$23.98\n<\/p>\n<\/td>\n | \n \n$16.35\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $85.0<\/b><\/p>\n<\/td>\n | \n \n$80.3\n<\/p>\n<\/td>\n | \n \n$92.5\n<\/p>\n<\/td>\n | \n \n$81.8\n<\/p>\n<\/td>\n | \n \n$38.0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales2<\/sup><\/b><\/p>\n<\/td>\n| \n $41.9<\/b><\/p>\n<\/td>\n | \n \n$34.0\n<\/p>\n<\/td>\n | \n \n$36.1\n<\/p>\n<\/td>\n | \n \n$34.3\n<\/p>\n<\/td>\n | \n \n$18.8\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $662<\/b><\/p>\n<\/td>\n | \n \n$621\n<\/p>\n<\/td>\n | \n \n$542\n<\/p>\n<\/td>\n | \n \n$602\n<\/p>\n<\/td>\n | \n \n$686\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AgOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $13.34<\/b><\/p>\n<\/td>\n | \n \n$10.98\n<\/p>\n<\/td>\n | \n \n$9.61\n<\/p>\n<\/td>\n | \n \n$10.06\n<\/p>\n<\/td>\n | \n \n$8.13\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $1.8<\/b><\/p>\n<\/td>\n | \n \n$1.7\n<\/p>\n<\/td>\n | \n \n$2.6\n<\/p>\n<\/td>\n | \n \n$2.0\n<\/p>\n<\/td>\n | \n \n$0.9\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $33.4<\/b><\/p>\n<\/td>\n | \n \n$13.2\n<\/p>\n<\/td>\n | \n \n$43.2\n<\/p>\n<\/td>\n | \n \n$49.7\n<\/p>\n<\/td>\n | \n \n$(3.5)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $9.8<\/b><\/p>\n<\/td>\n | \n \n$10.0\n<\/p>\n<\/td>\n | \n \n$9.0\n<\/p>\n<\/td>\n | \n \n$4.9\n<\/p>\n<\/td>\n | \n \n$4.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $\u2014<\/b><\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$(0.1)\n<\/p>\n<\/td>\n | \n \n$0.1\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $9.8<\/b><\/p>\n<\/td>\n | \n \n$10.0\n<\/p>\n<\/td>\n | \n \n$8.9\n<\/p>\n<\/td>\n | \n \n$5.0\n<\/p>\n<\/td>\n | \n \n$4.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $23.6<\/b><\/p>\n<\/td>\n | \n \n$3.2\n<\/p>\n<\/td>\n | \n \n$34.3\n<\/p>\n<\/td>\n | \n \n$44.7\n<\/p>\n<\/td>\n | \n \n$(8.0)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational<\/i><\/p>\n\n- \nSecond quarter gold and silver production totaled 27,595 and 1.7 million ounces, respectively, compared to 28,605 and 1.6 million ounces in the prior period. Gold and silver production in the second quarter of 2020 totaled 15,223 and 0.9 million ounces, respectively, reflecting a temporary suspension to comply with a COVID-19-related government decree\n<\/li>\n
- \nProduction during the quarter benefited from a 7% increase in mill throughput driven by a re-sequencing of the mine plan due to geotechnically-challenging conditions encountered during the first half of the year, partially offset by lower average gold and silver grades\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nSecond quarter adjusted CAS1<\/sup> for gold and silver on a co-product basis increased 7% and 21% to $662 and $13.34 per ounce, respectively, compared to the prior quarter, largely driven by slightly lower average grades, higher mining rates, underground rehabilitation activities, and comparatively higher gold sales under Palmarejo\u2019s gold stream agreement, which impacted the allocation of costs on a co-product basis\n<\/li>\n
- \nCapital expenditures remained relatively consistent quarter-over-quarter at $9.8 million, reflecting continued investment in business improvement projects, underground development and infill drilling\n<\/li>\n
- \nFree cash flow1<\/sup> in the second quarter totaled $23.6 million compared to $3.2 million in the prior period, largely driven by the payment of cash income and mining taxes in the first quarter\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nExploration investment for the second quarter totaled approximately $3.6 million ($1.8 million expensed and $1.8 million capitalized), compared to roughly $3.0 million ($1.7 million expensed and $1.3 million capitalized) in the prior period\n<\/li>\n
- \nUp to eight surface and underground core rigs were active during the quarter. A total of approximately 71,200 feet (21,675 meters) were drilled during the period, including 22,900 feet (6,975 meters) of expansion and 48,300 feet (14,700 meters) of infill drilling\n<\/li>\n
- \nInfill drilling focused on specific zones within the Independencia and Guadalupe deposits. Surface rigs targeted areas of the Hidalgo and La Patria zones (located within the Independencia and Guadalupe deposits, respectively) as well as the northern portion of the Independencia zone, while underground rigs focused on the southern portion of the Independencia zone\n<\/li>\n
- \nExpansion drilling during the quarter focused on the Hidalgo and El Ojito (located in the northeastern portion of the Independencia deposit) zones\n<\/li>\n
- \nExpansion and greenfield target generation is anticipated to continue moving north, northwest and east from the Independencia and Guadalupe deposits while infill drilling is expected to continue on the La Patria, North Independencia, Hidalgo and La Bavisa zones\n<\/li>\n
- \nIn parallel, a new initiative to evaluate, target and drill the Guazapares district (located east of the Palmarejo district and outside of the gold stream area of influence) was launched with the expectation of drilling to begin in the second half of the year\n<\/li>\n
- \nCoeur plans for nine drill rigs to be active at Palmarejo in the third quarter and expects to maintain that pace for the remainder of the year\n<\/li>\n<\/ul>\n
Other<\/i><\/p>\n\n- \nApproximately 46% (14,097 ounces) of Palmarejo\u2019s gold sales in the second quarter were sold under its gold stream agreement at a price of $800 per ounce. The Company anticipates approximately 40% – 45% of Palmarejo\u2019s gold sales for 2021 will be sold under the stream agreement\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nFull-year 2021 production is expected to be 100,000 – 110,000 ounces of gold and 6.5 – 7.8 million ounces of silver\n<\/li>\n
- \nCAS1<\/sup> are expected to be $635 – $735 per gold ounce (previously $710 – $810 per ounce) and $11.75 – $12.75 per silver ounce (previously $11.00 – $12.00 per ounce). The revised figures largely reflect an anticipated change in the allocation of costs on a co-product basis\n<\/li>\n
- \nCapital expenditures are expected to be approximately $40 – $45 million\n<\/li>\n<\/ul>\n
Rochester, Nevada<\/b><\/p>\n\n\n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n 2Q 2021<\/b><\/p>\n<\/td>\n | \n 1Q 2021<\/b><\/p>\n<\/td>\n | \n 4Q 2020<\/b><\/p>\n<\/td>\n | \n 3Q 2020<\/b><\/p>\n<\/td>\n | \n 2Q 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Ore tons placed<\/b><\/p>\n<\/td>\n | \n 3,195,777<\/b><\/p>\n<\/td>\n | \n \n3,240,917\n<\/p>\n<\/td>\n | \n \n4,000,889\n<\/p>\n<\/td>\n | \n \n4,523,767\n<\/p>\n<\/td>\n | \n \n3,743,331\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average silver grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 0.38<\/b><\/p>\n<\/td>\n | \n \n0.45\n<\/p>\n<\/td>\n | \n \n0.53\n<\/p>\n<\/td>\n | \n \n0.49\n<\/p>\n<\/td>\n | \n \n0.51\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 0.003<\/b><\/p>\n<\/td>\n | \n \n0.003\n<\/p>\n<\/td>\n | \n \n0.002\n<\/p>\n<\/td>\n | \n \n0.002\n<\/p>\n<\/td>\n | \n \n0.002\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces produced (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 888<\/b><\/p>\n<\/td>\n | \n \n774\n<\/p>\n<\/td>\n | \n \n1,020\n<\/p>\n<\/td>\n | \n \n740\n<\/p>\n<\/td>\n | \n \n728\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n 7,232<\/b><\/p>\n<\/td>\n | \n \n6,904\n<\/p>\n<\/td>\n | \n \n9,590\n<\/p>\n<\/td>\n | \n \n6,462\n<\/p>\n<\/td>\n | \n \n5,159\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces sold (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 912<\/b><\/p>\n<\/td>\n | \n \n771\n<\/p>\n<\/td>\n | \n \n912\n<\/p>\n<\/td>\n | \n \n786\n<\/p>\n<\/td>\n | \n \n724\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n 7,818<\/b><\/p>\n<\/td>\n | \n \n6,934\n<\/p>\n<\/td>\n | \n \n8,672\n<\/p>\n<\/td>\n | \n \n6,834\n<\/p>\n<\/td>\n | \n \n5,278\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per silver ounce<\/b><\/p>\n<\/td>\n | \n $26.38<\/b><\/p>\n<\/td>\n | \n \n$26.34\n<\/p>\n<\/td>\n | \n \n$24.35\n<\/p>\n<\/td>\n | \n \n$24.49\n<\/p>\n<\/td>\n | \n \n$16.11\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce<\/b><\/p>\n<\/td>\n | \n $1,794<\/b><\/p>\n<\/td>\n | \n \n$1,794\n<\/p>\n<\/td>\n | \n \n$1,825\n<\/p>\n<\/td>\n | \n \n$1,882\n<\/p>\n<\/td>\n | \n \n$1,702\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $38.1<\/b><\/p>\n<\/td>\n | \n \n$32.8\n<\/p>\n<\/td>\n | \n \n$38.2\n<\/p>\n<\/td>\n | \n \n$32.1\n<\/p>\n<\/td>\n | \n \n$20.6\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales2<\/sup><\/b><\/p>\n<\/td>\n| \n $38.0<\/b><\/p>\n<\/td>\n | \n \n$24.0\n<\/p>\n<\/td>\n | \n \n$31.7\n<\/p>\n<\/td>\n | \n \n$19.1\n<\/p>\n<\/td>\n | \n \n$18.3\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AgOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $26.09<\/b><\/p>\n<\/td>\n | \n \n$19.07\n<\/p>\n<\/td>\n | \n \n$20.18\n<\/p>\n<\/td>\n | \n \n$14.98\n<\/p>\n<\/td>\n | \n \n$13.75\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $1,787<\/b><\/p>\n<\/td>\n | \n \n$1,300\n<\/p>\n<\/td>\n | \n \n$1,537\n<\/p>\n<\/td>\n | \n \n$1,148\n<\/p>\n<\/td>\n | \n \n$1,481\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $0.9<\/b><\/p>\n<\/td>\n | \n \n$0.5\n<\/p>\n<\/td>\n | \n \n$0.8\n<\/p>\n<\/td>\n | \n \n$0.5\n<\/p>\n<\/td>\n | \n \n$1.8\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $4.0<\/b><\/p>\n<\/td>\n | \n \n$(8.7)\n<\/p>\n<\/td>\n | \n \n$4.7\n<\/p>\n<\/td>\n | \n \n$2.1\n<\/p>\n<\/td>\n | \n \n$(5.6)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $7.3<\/b><\/p>\n<\/td>\n | \n \n$2.0\n<\/p>\n<\/td>\n | \n \n$2.9\n<\/p>\n<\/td>\n | \n \n$2.5\n<\/p>\n<\/td>\n | \n \n$1.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $35.0<\/b><\/p>\n<\/td>\n | \n \n$28.2\n<\/p>\n<\/td>\n | \n \n$13.9\n<\/p>\n<\/td>\n | \n \n$7.3\n<\/p>\n<\/td>\n | \n \n$4.3\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $42.3<\/b><\/p>\n<\/td>\n | \n \n$30.2\n<\/p>\n<\/td>\n | \n \n$16.8\n<\/p>\n<\/td>\n | \n \n$9.8\n<\/p>\n<\/td>\n | \n \n$5.8\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $(38.3)<\/b><\/p>\n<\/td>\n | \n \n$(38.9)\n<\/p>\n<\/td>\n | \n \n$(12.1)\n<\/p>\n<\/td>\n | \n \n$(7.7)\n<\/p>\n<\/td>\n | \n \n$(11.4)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational <\/i><\/p>\n\n- \nSilver and gold production increased 15% and 5% quarter-over-quarter to 0.9 million and 7,232 ounces, respectively. Year-over-year silver and gold production increased 22% and 40%, respectively\n<\/li>\n
- \nHigher silver production was primarily driven by the breakthrough of material placed on inter-lift liners in the prior period, while gold production continued to benefit from the stacking of additional run-of-mine material during the first half of the year\n<\/li>\n
- \nCoeur successfully completed the swap-out of the secondary crushing unit, helping the Company begin placing over-liner material on the Stage VI leach pad approximately six weeks ahead of schedule. Importantly, initial results from the new crusher have shown improvements in throughput, particle size distribution and leachability\n<\/li>\n
- \nThe Company also completed the fourth phase of its inter-lift liner strategy late in the quarter, helping to facilitate the placement of HPGR-crushed ore on shallower portions of the Stage IV leach pad\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nSecond quarter costs applicable to sales2<\/sup> figures shown in the table above and highlighted below include a non-cash inventory charge of approximately $8.6 million related to a change in the Company\u2019s recovery rate assumption on the Stage IV leach pad\n<\/li>\n
- \nSecond quarter adjusted CAS1<\/sup> for silver and gold on a co-product basis totaled $26.09 and $1,787 per ounce, respectively, compared to $19.07 and $1,300 per ounce in the prior period, largely driven by the non-cash charge as well as higher diesel and maintenance costs. Excluding the non-cash charge, second quarter adjusted CAS1<\/sup> for silver and gold on a co-product basis totaled $20.13 and $1,379 per ounce, respectively\n<\/li>\n
- \nCapital expenditures increased 40% quarter-over-quarter to $42.3 million, reflecting an acceleration in the level of investment in the POA 11 expansion project as well as the ramp up of sustaining projects\n<\/li>\n
- \nFree cash flow1<\/sup> in the second quarter remained relatively consistent at $(38.3) million\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nQuarterly exploration investment totaled approximately $2.0 million ($0.9 million expensed and $1.1 million capitalized), compared to roughly $0.7 million ($0.5 million expensed and $0.2 million capitalized) in the prior period\n<\/li>\n
- \nTwo reverse circulation rigs and two core rigs were active during the quarter. Expansion drilling tested Nevada Packard, North Rochester and Lincoln Hill, while infill drilling focused on the Rochester and Nevada Packard pits. A total of approximately 27,500 feet (8,375 meters) were drilled during the period, including 12,700 feet (3,875 meters) focused on expansion and 14,800 feet (4,500 meters) focused on infill drilling\n<\/li>\n
- \nCoeur plans to have up to four drill rigs active at Rochester for the remainder of the year. One core and one reverse circulation rig are expected to focus on infill targets at East Rochester as well as in the Rochester and Nevada Packard pits. Additionally, one core and one reverse circulation rig are anticipated to focus on expansion drilling at North Rochester, the southern portion of East Rochester and East Packard\n<\/li>\n
- \nGreenfields and expansion drilling are scheduled to continue at Lincoln Hill, Independence Hill and Gold Ridge late in the third quarter\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nFull-year 2021 production is expected to be 3.2 – 4.4 million ounces of silver and 22,500 – 32,500 ounces of gold\n<\/li>\n
- \nCAS1<\/sup> in 2021 are expected to be $20.00 – $22.00 per silver ounce (previously $15.00 – $17.00 per ounce) and $1,350 – $1,500 per gold ounce (previously $1,180 – $1,330 per ounce). The revised figures reflect the non-cash charge as well as higher anticipated diesel, labor and maintenance costs\n<\/li>\n
- \nCapital expenditures are expected to be approximately $155 – $200 million (previously $155 – $195 million)\n<\/li>\n<\/ul>\n
Kensington, Alaska<\/b><\/p>\n\n\n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n 2Q 2021<\/b><\/p>\n<\/td>\n | \n 1Q 2021<\/b><\/p>\n<\/td>\n | \n 4Q 2020<\/b><\/p>\n<\/td>\n | \n 3Q 2020<\/b><\/p>\n<\/td>\n | \n 2Q 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Tons milled<\/b><\/p>\n<\/td>\n | \n 168,311<\/b><\/p>\n<\/td>\n | \n \n170,358\n<\/p>\n<\/td>\n | \n \n179,636\n<\/p>\n<\/td>\n | \n \n163,276\n<\/p>\n<\/td>\n | \n \n170,478\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 0.18<\/b><\/p>\n<\/td>\n | \n \n0.19\n<\/p>\n<\/td>\n | \n \n0.20\n<\/p>\n<\/td>\n | \n \n0.18\n<\/p>\n<\/td>\n | \n \n0.21\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate<\/b><\/p>\n<\/td>\n | \n 92.7%<\/b><\/p>\n<\/td>\n | \n \n93.2%\n<\/p>\n<\/td>\n | \n \n93.0%\n<\/p>\n<\/td>\n | \n \n93.7%\n<\/p>\n<\/td>\n | \n \n92.0%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n 28,322<\/b><\/p>\n<\/td>\n | \n \n30,681\n<\/p>\n<\/td>\n | \n \n32,990\n<\/p>\n<\/td>\n | \n \n26,797\n<\/p>\n<\/td>\n | \n \n33,058\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n 26,796<\/b><\/p>\n<\/td>\n | \n \n31,595\n<\/p>\n<\/td>\n | \n \n31,830\n<\/p>\n<\/td>\n | \n \n27,815\n<\/p>\n<\/td>\n | \n \n32,367\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce, gross<\/b><\/p>\n<\/td>\n | \n $1,851<\/b><\/p>\n<\/td>\n | \n \n$1,754\n<\/p>\n<\/td>\n | \n \n$1,837\n<\/p>\n<\/td>\n | \n \n$1,917\n<\/p>\n<\/td>\n | \n \n$1,762\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Treatment and refining charges per gold ounce<\/b><\/p>\n<\/td>\n | \n $30<\/b><\/p>\n<\/td>\n | \n \n$30\n<\/p>\n<\/td>\n | \n \n$37\n<\/p>\n<\/td>\n | \n \n$35\n<\/p>\n<\/td>\n | \n \n$57\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce, net<\/b><\/p>\n<\/td>\n | \n $1,821<\/b><\/p>\n<\/td>\n | \n \n$1,724\n<\/p>\n<\/td>\n | \n \n$1,800\n<\/p>\n<\/td>\n | \n \n$1,882\n<\/p>\n<\/td>\n | \n \n$1,705\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $48.8<\/b><\/p>\n<\/td>\n | \n \n$54.5\n<\/p>\n<\/td>\n | \n \n$57.2\n<\/p>\n<\/td>\n | \n \n$52.4\n<\/p>\n<\/td>\n | \n \n$55.2\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales2<\/sup><\/b><\/p>\n<\/td>\n| \n $29.2<\/b><\/p>\n<\/td>\n | \n \n$31.4\n<\/p>\n<\/td>\n | \n \n$29.3\n<\/p>\n<\/td>\n | \n \n$31.5\n<\/p>\n<\/td>\n | \n \n$30.4\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CAS per AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $1,088<\/b><\/p>\n<\/td>\n | \n \n$989\n<\/p>\n<\/td>\n | \n \n$919\n<\/p>\n<\/td>\n | \n \n$1,128\n<\/p>\n<\/td>\n | \n \n$934\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Prepayment, working capital cash flow<\/b><\/p>\n<\/td>\n | \n $7.9<\/b><\/p>\n<\/td>\n | \n \n$(7.9)\n<\/p>\n<\/td>\n | \n \n$5.1\n<\/p>\n<\/td>\n | \n \n$(5.1)\n<\/p>\n<\/td>\n | \n \n$7.0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $1.3<\/b><\/p>\n<\/td>\n | \n \n$1.1\n<\/p>\n<\/td>\n | \n \n$0.8\n<\/p>\n<\/td>\n | \n \n$3.4\n<\/p>\n<\/td>\n | \n \n$2.6\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $19.4<\/b><\/p>\n<\/td>\n | \n \n$11.0\n<\/p>\n<\/td>\n | \n \n$31.0\n<\/p>\n<\/td>\n | \n \n$9.1\n<\/p>\n<\/td>\n | \n \n$27.8\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $6.0<\/b><\/p>\n<\/td>\n | \n \n$7.2\n<\/p>\n<\/td>\n | \n \n$5.8\n<\/p>\n<\/td>\n | \n \n$5.3\n<\/p>\n<\/td>\n | \n \n$3.9\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $\u2014<\/b><\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $6.0<\/b><\/p>\n<\/td>\n | \n \n$7.2\n<\/p>\n<\/td>\n | \n \n$5.8\n<\/p>\n<\/td>\n | \n \n$5.3\n<\/p>\n<\/td>\n | \n \n$3.9\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $13.4<\/b><\/p>\n<\/td>\n | \n \n$3.8\n<\/p>\n<\/td>\n | \n \n$25.2\n<\/p>\n<\/td>\n | \n \n$3.8\n<\/p>\n<\/td>\n | \n \n$23.9\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational<\/i><\/p>\n\n- \nGold production in the second quarter totaled 28,322 ounces, compared to 30,681 ounces in the prior period and 33,058 ounces in the second quarter of 2020\n<\/li>\n
- \nLower production during the quarter was driven by a modest reduction in mill throughput largely due to additional planned mill maintenance as well as slightly lower average head grade due to stope and development ore sequencing\n<\/li>\n
- \nJualin accounted for approximately 20% of Kensington\u2019s second quarter production, slightly higher than the prior period of roughly 17%, due to the processing of additional development ore\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nAdjusted CAS1<\/sup> increased 10% quarter-over-quarter to $1,088 per ounce, largely driven by fewer gold ounces sold as well as additional contractor support and higher diesel prices\n<\/li>\n
- \nCapital expenditures decreased 17% quarter-over-quarter to $6.0 million, primarily due to lower capital development and a shift towards more expansion drilling during the period\n<\/li>\n
- \nFree cash flow1<\/sup> in the second quarter totaled $13.4 million, including a net cash inflow of $7.9 million associated with the Company\u2019s prepayment agreement at Kensington. Excluding the effect of the prepayment, free cash flow1<\/sup> totaled approximately $5.5 million in the second quarter\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nExploration investment in the quarter totaled approximately $1.9 million ($1.3 million expensed and $0.6 million capitalized), compared to $2.1 million ($1.1 million expensed and $1.0 million capitalized) in the prior period\n<\/li>\n
- \nTwo underground core rigs were active during the quarter, drilling from the Elmira development drift established in 2020. A total of approximately 32,800 feet (9,975 meters) were drilled during the period, including 21,900 feet (6,675 meters) of expansion and 10,900 feet (3,300 meters) of infill drilling\n<\/li>\n
- \nInfill and expansion drilling primarily focused on the Elmira vein, while expansion holes into the Johnson vein (located roughly 500 feet east of Elmira) were also completed\n<\/li>\n
- \nA third underground rig was added, and all three rigs are expected to remain active during the remainder of the year targeting the Elmira and Johnson veins as well as the Kensington Main, Eureka and Raven veins\n<\/li>\n
- \nAdditionally, two surface core rigs began drilling the upper portions of the Jualin, Big Lake, Gold King and Valentine-Tremming targets in July\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nProduction in 2021 is expected to be 115,000 – 130,000 ounces of gold\n<\/li>\n
- \nCAS1<\/sup> in 2021 are expected to be $1,010 – $1,110 per gold ounce\n<\/li>\n
- \nCapital expenditures are expected to be approximately $23 – $30 million\n<\/li>\n<\/ul>\n
Wharf, South Dakota<\/b><\/p>\n\n\n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n 2Q 2021<\/b><\/p>\n<\/td>\n | \n 1Q 2021<\/b><\/p>\n<\/td>\n | \n 4Q 2020<\/b><\/p>\n<\/td>\n | \n 3Q 2020<\/b><\/p>\n<\/td>\n | \n 2Q 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Ore tons placed<\/b><\/p>\n<\/td>\n | \n 1,025,481<\/b><\/p>\n<\/td>\n | \n \n1,114,043\n<\/p>\n<\/td>\n | \n \n1,047,647\n<\/p>\n<\/td>\n | \n \n1,315,542\n<\/p>\n<\/td>\n | \n \n1,401,237\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n 0.032<\/b><\/p>\n<\/td>\n | \n \n0.030\n<\/p>\n<\/td>\n | \n \n0.024\n<\/p>\n<\/td>\n | \n \n0.025\n<\/p>\n<\/td>\n | \n \n0.032\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n 24,126<\/b><\/p>\n<\/td>\n | \n \n19,035\n<\/p>\n<\/td>\n | \n \n19,286\n<\/p>\n<\/td>\n | \n \n33,440\n<\/p>\n<\/td>\n | \n \n24,789\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces produced (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 33<\/b><\/p>\n<\/td>\n | \n \n26\n<\/p>\n<\/td>\n | \n \n33\n<\/p>\n<\/td>\n | \n \n42\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n 23,371<\/b><\/p>\n<\/td>\n | \n \n18,896\n<\/p>\n<\/td>\n | \n \n21,539\n<\/p>\n<\/td>\n | \n \n33,382\n<\/p>\n<\/td>\n | \n \n23,364\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces sold (000\u2019s)<\/b><\/p>\n<\/td>\n | \n 31<\/b><\/p>\n<\/td>\n | \n \n26\n<\/p>\n<\/td>\n | \n \n35\n<\/p>\n<\/td>\n | \n \n41\n<\/p>\n<\/td>\n | \n \n23\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce<\/b><\/p>\n<\/td>\n | \n $1,801<\/b><\/p>\n<\/td>\n | \n \n$1,791\n<\/p>\n<\/td>\n | \n \n$1,835\n<\/p>\n<\/td>\n | \n \n$1,872\n<\/p>\n<\/td>\n | \n \n$1,715\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $42.9<\/b><\/p>\n<\/td>\n | \n \n$34.5\n<\/p>\n<\/td>\n | \n \n$40.3\n<\/p>\n<\/td>\n | \n \n$63.5\n<\/p>\n<\/td>\n | \n \n$40.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales2<\/sup><\/b><\/p>\n<\/td>\n| \n $23.4<\/b><\/p>\n<\/td>\n | \n \n$18.7\n<\/p>\n<\/td>\n | \n \n$21.4\n<\/p>\n<\/td>\n | \n \n$27.9\n<\/p>\n<\/td>\n | \n \n$22.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CAS per AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $963<\/b><\/p>\n<\/td>\n | \n \n$952\n<\/p>\n<\/td>\n | \n \n$954\n<\/p>\n<\/td>\n | \n \n$804\n<\/p>\n<\/td>\n | \n \n$804\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $0.1<\/b><\/p>\n<\/td>\n | \n \n$0.1\n<\/p>\n<\/td>\n | \n \n$0.3\n<\/p>\n<\/td>\n | \n \n$0.5\n<\/p>\n<\/td>\n | \n \n$0.1\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $17.3<\/b><\/p>\n<\/td>\n | \n \n$7.8\n<\/p>\n<\/td>\n | \n \n$14.1\n<\/p>\n<\/td>\n | \n \n$39.1\n<\/p>\n<\/td>\n | \n \n$19.1\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $0.3<\/b><\/p>\n<\/td>\n | \n \n$0.4\n<\/p>\n<\/td>\n | \n \n$1.2\n<\/p>\n<\/td>\n | \n \n$0.5\n<\/p>\n<\/td>\n | \n \n$0.3\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $1.1<\/b><\/p>\n<\/td>\n | \n \n$1.1\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n | \n \n$\u2014\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $1.4<\/b><\/p>\n<\/td>\n | \n \n$1.5\n<\/p>\n<\/td>\n | \n \n$1.2\n<\/p>\n<\/td>\n | \n \n$0.5\n<\/p>\n<\/td>\n | \n \n$0.3\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $15.9<\/b><\/p>\n<\/td>\n | \n \n$6.3\n<\/p>\n<\/td>\n | \n \n$12.9\n<\/p>\n<\/td>\n | \n \n$38.6\n<\/p>\n<\/td>\n | \n \n$18.8\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational <\/i><\/p>\n\n- \nGold production increased 27% quarter-over-quarter to 24,126 ounces, largely driven by the placement of higher average grade material during the first half of the year. Year-over-year gold production decreased 3%\n<\/li>\n<\/ul>\n
Financial <\/i><\/p>\n | | | | | | | | | | | | | | | | | | | | | | | | | | |