\n| \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Key Highlights<\/b><\/p>\n\n- Solid production results and stronger fourth quarter expected to result in full-year production levels within 2022 guidance ranges <\/b>\u2013 Third quarter gold and silver production totaled 83,438 and 2.4 million ounces, respectively. Quarter-over-quarter production growth at Rochester, Wharf and Kensington was offset by lower production at Palmarejo. Production levels are expected to increase at all four operating locations during the fourth quarter and finish the year within Coeur\u2019s full-year guidance range of 315,000 – 353,000 ounces of gold and 9.0 – 11.0 million ounces of silver\n<\/li>\n<\/ul>\n
\n- Recently installed pre-screens at Rochester providing intended benefit <\/b>\u2013 Pre-screens were successfully installed between the secondary and tertiary crushers at the existing Rochester operation during the third quarter, which is driving enhanced operational flexibility and helping to generate a lower average size of crushed material and improved pad permeability. These learnings and results will be incorporated into the operating plan for the Rochester expansion and used to optimize Rochester\u2019s life of mine plan\n<\/li>\n<\/ul>\n
\n- Rochester expansion on track; capital estimate updated to incorporate pre-screens <\/b>\u2013 Construction of the Rochester expansion remains on track to be completed mid-2023 with pre-commissioning, commissioning and ramp-up taking place in the second half of next year. At quarter-end, the project was 61% complete, $575 million of the estimated capital had been committed, and $443 million of the estimated capital cost had been incurred. The Company has increased the total capital by 9 – 12% to $650 – $670 million to reflect recently completed final estimates for the addition of pre-screens into the crusher circuit, higher prices and quantities of steel and concrete, and additional contingency\n<\/li>\n<\/ul>\n
\n- Strategic sale of southern Nevada holdings to AngloGold now complete <\/b>\u2013 The Company entered into a definitive agreement with a subsidiary of AngloGold Ashanti Limited (\u201cAngloGold\u201d) (NYSE: AU) during the third quarter to sell its Crown and Sterling holdings (\u201cCrown Sterling\u201d) for closing cash consideration of $150 million and deferred cash consideration of $50 million to be paid upon Crown Sterling attaining a total resource of at least 3.5 million gold ounces. Closing of the transaction occurred on November 4, 2022\n<\/li>\n<\/ul>\n
\n- Balance sheet flexibility with opportunistic hedges support ongoing investments <\/b>\u2013 Coeur ended the quarter with total liquidity of approximately $236 million, including $75 million of cash and $160 million of available capacity under its $390 million revolving credit facility (\u201cRCF\u201d)2<\/sup>. On an adjusted basis, giving effect to the Crown Sterling transaction, total liquidity stood at $386 million. In addition, Coeur currently holds gold forward hedges in the amount of 54,500 ounces for the remainder of 2022 at an average price of $1,994 per ounce and 112,500 ounces in 2023 at an average price of $1,982 per ounce. The market value of these hedges was approximately $47 million at quarter-end\n<\/li>\n<\/ul>\n
\n\u201cCoeur experienced another steady operational quarter, and we are on-track to deliver a strong fourth quarter from each of our four operations. While financial results were negatively impacted by lower average realized prices, lower grades at Palmarejo, and ongoing inflationary pressures, we are well-positioned to achieve our full-year 2022 production and cost guidance thanks to a tremendous effort and effective cost management by our site operating teams,\u201d said Mitchell J. Krebs, President and Chief Executive Officer.\n<\/p>\n \n\u201cThe third quarter also saw continued progress toward the mid-2023 completion of the expansion project taking place at our Rochester silver and gold mine in Nevada. The installation of pre-screens on Rochester\u2019s existing crushing circuit early in the quarter is generating the intended benefits and providing essential operating data and experience that we will leverage to further enhance this emerging world-class silver and gold mine. Although the estimated capital cost of this expansion has increased, we have taken steps to bolster our liquidity and we remain confident in our ability to successfully deliver this transformational source of growth next year.\n<\/p>\n \n\u201cDuring a period of underinvestment within our industry, we have remained steadfast in our strategy of investing in expansions and near-mine exploration to position the Company to deliver high-return, sector-leading growth in production and free cash flow from operations containing expanded reserve and resource bases and located in mining-friendly jurisdictions.\u201d\n<\/p>\n \n\n| \n Financial and Operating Highlights (Unaudited)<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics)<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold Sales<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 139.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n146.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n129.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n146.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n147.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver Sales<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 43.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n57.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n59.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n61.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n60.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Consolidated Revenue<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 183.0<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n204.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n188.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n207.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n208.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs Applicable to Sales3<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 163.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n150.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n133.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n136.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n134.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n General and Administrative Expenses<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 9.7<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n9.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n9.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net Income (Loss)<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (57.4<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(77.4\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n7.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(10.7\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(54.8\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net Income (Loss) Per Share<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.21<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.28\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n0.03\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.04\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.21\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted Net Income (Loss)1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (44.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(13.1\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(13.8\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(11.6\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(2.9\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted Net Income (Loss)1 <\/sup>Per Share<\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (0.16<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.05\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.05\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.05\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.01\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Weighted Average Shares Outstanding<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 278.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n278.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n263.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n254.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n254.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n EBITDA1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (20.5<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(32.8\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n40.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n28.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(14.2\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 18.3<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n43.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n41.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n48.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n48.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash Flow from Operating Activities<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (19.1<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(6.4\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n35.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n21.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Capital Expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 96.6<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n73.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n69.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n100.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n71.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free Cash Flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (115.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(50.6\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(75.9\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(65.9\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(49.4\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash, Equivalents & Short-Term Investments<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 75.4<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n74.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n73.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n56.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n85.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total Debt4<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 635.7<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n547.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n485.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n487.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n442.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average Realized Price Per Ounce \u2013 Gold<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,702<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,729\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,721\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,652\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,645\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average Realized Price Per Ounce \u2013 Silver<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 19.09<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.61\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.06\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n23.17\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.18\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold Ounces Produced<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 83,438<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n83,772\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n75,409\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n88,946\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n87,083\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver Ounces Produced<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2.4<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\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 \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold Ounces Sold<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 81,782<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n84,786\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n75,211\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n88,930\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n89,804\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver Ounces Sold<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2.3<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\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 \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Financial Results<\/b><\/p>\n \nThird quarter 2022 revenue totaled $183 million compared to $204 million in the prior period and $208 million in the third quarter of 2021. The Company produced 83,438 and 2.4 million ounces of gold and silver, respectively, during the quarter. Metal sales for the quarter totaled 81,782 ounces of gold and 2.3 million ounces of silver. Average realized gold and silver prices for the quarter were $1,702 and $19.09 per ounce, respectively, compared to $1,729 and $22.61 per ounce in the prior period, a respective 2% and 16% decrease quarter-over-quarter, and $1,645 and $24.18 per ounce in the third quarter of 2021, respectively, a 3% increase in gold and 21% decrease in silver.\n<\/p>\n \nGold and silver sales represented 76% and 24% of quarterly revenue, respectively, compared to 71% and 29% in the third quarter of 2021. The Company\u2019s U.S. operations accounted for approximately 65% of third quarter revenue, compared to 64% in the third quarter of 2021.\n<\/p>\n \nCosts applicable to sales3<\/sup> increased 8% quarter-over-quarter to $163 million, largely due to a $21 million LCM adjustment at Rochester. Coeur continues to experience inflationary pressures on consumable costs on a year-over-year basis, but these costs remained relatively flat compared to the previous quarter. General and administrative expenses increased slightly quarter-over-quarter to $10 million.\n<\/p>\n\nCoeur invested approximately $12 million ($8 million expensed and $4 million capitalized) in exploration during the quarter, compared to roughly $13 million ($5 million expensed and $8 million capitalized) in the prior period and $20 million ($15 million expensed and $5 million capitalized) in the third quarter of 2021, reflecting lower planned investment across the portfolio following the Company\u2019s highest-ever exploration investment in 2021. See the \u201cOperations\u201d and \u201cExploration\u201d sections for additional detail on the Company\u2019s exploration activities.\n<\/p>\n \nThe Company recorded income tax expense of approximately $2 million during the third quarter. Cash income and mining taxes paid during the period totaled approximately $7 million.\n<\/p>\n \nQuarterly operating cash flow totaled $(19) million compared to $23 million in the prior period, mainly driven by lower metal sales and unfavorable changes in working capital. Changes in working capital during the quarter were $(18) million, compared to $(7) million in the prior period, reflecting the timing of semi-annual interest payments on the Company\u2019s 2029 5.125% Senior Notes.\n<\/p>\n \nCapital expenditures increased 32% quarter-over-quarter to $97 million compared to $73 million in the prior period. Expenditures related to the expansion project at Rochester totaled $68 million during the quarter compared to $42 million in the second quarter and $39 million in the third quarter of 2021. Sustaining and development capital expenditures accounted for approximately 25% and 75%, respectively, of Coeur\u2019s total capital investment during the quarter.\n<\/p>\n Capital Projects Update<\/b><\/p>\n Rochester Expansion<\/i><\/p>\n \nCoeur achieved several key milestones at the Rochester expansion during the quarter.\n<\/p>\n \nNotably, the Company achieved (i) completion of major concrete work in all areas except the primary crusher pocket and the pre-screens, both of which are in progress, (ii) continuation of structural, mechanical, piping, electrical and instrumentation construction work throughout the project, (iii) commencement of final major high-voltage electrical distribution and substation construction, and (iv) completion of the majority of commitments for the pre-screens.\n<\/p>\n \nProgress of the Merrill-Crowe plant continued on schedule during the third quarter, including (i) continuation of mechanical equipment setting, (ii) completion of building and process plant steel pipe rack erection, (iii) continuation of piping and cable tray installation, and (iv) rough setting of electrical switchgear.\n<\/p>\n \nFurther work on the crusher corridor has also advanced, including (i) civil work on the primary crusher area with a focus on the primary crusher foundation and commencement of conveyor component installation, (ii) setting of the secondary cone crushers and commencement of piping, cable tray and lighting installation in the secondary crusher area, and (iii) setting of the tertiary HPGR crushers and cable tray and lighting installation in the tertiary crusher area.\n<\/p>\n \nDuring the quarter, Coeur successfully aligned the construction of the pre-screens with the completion of the new crusher to maintain a mid-2023 mechanical completion target. Ramp-up and commissioning is anticipated to take place during the second half of next year.\n<\/p>\n \nCoeur also completed a review of the total capital costs necessary to complete the expansion, resulting in a 9 – 12% increase in the capital estimate. The estimate reflects the finalization of cost estimates for pre-screens, higher prices and quantities of steel and concrete, and additional contingency\n<\/p>\n \nAs of September 30, 2022, the Company had committed approximately $575 million of capital since the inception of the project and approximately $443 million of the estimated project cost had been incurred.\n<\/p>\n Silvertip Project<\/i><\/p>\n \nCoeur continues to advance study work to assess the economics of a potential future expansion of its high-grade Silvertip silver-zinc-lead development project in British Columbia, Canada. The Company\u2019s objective remains to complete an evaluation by year-end of higher throughput scenarios to enhance the project\u2019s economics and to take advantage of Silvertip\u2019s expanding, high-grade resource base. Subject to continued positive results, the Company anticipates advancing Silvertip once the Rochester expansion and ramp-up is complete and Coeur generates sustained, positive free cash flow that can be used to reduce leverage back to targeted levels.\n<\/p>\n \nExploration investment in the third quarter totaled approximately $3 million ($2 million expensed and $1 million capitalized) compared to roughly $2 million (substantially all capitalized) in the prior period.\n<\/p>\n \nUp to four core drill rigs were active with two underground rigs focused on infill and expansion holes at the Southern Silver and Discovery zones. All five exploration holes drilled from underground during the quarter successfully intersected chimney\/feeder structures beneath the Discovery zone manto, providing further exploration targets for 2023 and beyond. Two surface rigs were also active during the quarter, one focused on expansion drilling at the Saddle zone located south of the Southern Silver zone where significant mineralized intervals were intersected. The other surface rig carried out scout drilling on three regional targets \u2014 Tour Ridge, Trident Creek and Tiger Terrace \u2014 located 1 kilometer, 2.5 kilometers and 5 kilometers to the south of known mineralization, respectively. Results are pending, but multiple geological indicators of proximity to mineralization were intersected.\n<\/p>\n \nOngoing carrying costs, which includes de-watering, power, camp and travel costs to support continued underground development and exploration activities, totaled $5 million in the third quarter, compared to $5 million in the prior period. Capital expenditures related to infill drilling and underground development during the third quarter totaled $4 million compared to $6 million in the prior period. Full-year 2022 capital expenditures are expected to be approximately $28 – $36 million.\n<\/p>\n Balance Sheet and Liquidity Update<\/b><\/p>\n \nCoeur ended the quarter with total liquidity of approximately $236 million, including $75 million of cash and $160 million of available capacity under its $390 million RCF2<\/sup> subject to certain financial covenants. Additionally, Coeur had $46 million of marketable securities at the end of the third quarter.\n<\/p>\n\nOn September 18, 2022, the Company entered into a definitive agreement with a subsidiary of AngloGold to sell its Crown Sterling holdings for closing cash consideration of $150 million. The transaction closed on November 4, 2022 and is not included as part of Coeur\u2019s third quarter results due to timing of closing.\n<\/p>\n \nAs adjusted to reflect the receipt of proceeds from this transaction, the Company\u2019s total liquidity stood at $386 million.\n<\/p>\n \nTo further enhance the Company\u2019s balance sheet flexibility and liquidity during this period of peak capital expenditures to complete the Rochester expansion project, Coeur and its RCF banks agreed to amend the terms of the RCF to raise the maximum net leverage ratio from 3.5x to 4.25x for the remainder of 2022 and to 4.5x for 2023, among other items. As part of this amendment, the method of calculating adjusted EBITDA was modified to allow up to $50 million for integration costs or costs associated with establishing new facilities and certain costs associated with LCM adjustments at Rochester to be excluded, which is in alignment with the Company\u2019s external reporting.\n<\/p>\n Hedging Update<\/b><\/p>\n \nThe Company did not execute any additional hedges during the third quarter. Coeur continues to have meaningful gold price protection in place for the remainder of 2022 and in 2023 as outlined below. The Company\u2019s silver price exposure remains unhedged.\n<\/p>\n \n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2022<\/b><\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGold Ounces Hedged\n<\/p>\n<\/td>\n | \n \n54,500\n<\/p>\n<\/td>\n | \n \n112,500\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAvg. Forward Price ($\/oz)\n<\/p>\n<\/td>\n | \n \n$1,994\n<\/p>\n<\/td>\n | \n \n$1,982\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Mark-to-Market Adjustments<\/b><\/p>\n \nThe Company values its strategic investments in equity securities as of the end of each reporting period. The estimated fair values of Coeur\u2019s equity investments in Victoria Gold Corp., Avino Silver & Gold Mines Ltd. and Integra Resources Corp. were $36 million, $7 million and $2 million, respectively, at September 30, 2022 compared to $88 million, $8 million and $4 million, respectively, at June 30, 2022, which reflects the sale of five million shares of Victoria Gold Corp. and a change in the value of the remaining equity investments.\n<\/p>\n Rochester LCM Adjustment<\/b><\/p>\n \nCoeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Decreases in the market price of gold and silver can affect the value of metal inventory, stockpiles and leach pads, and it may be necessary to record a write-down to the net realizable value, as well as impact carrying value of long-lived assets. At the end of the third quarter, the cost of ore on leach pads at Rochester exceeded its net realizable value which resulted in a LCM adjustment of $24 million (approximately $21 million in costs applicable to sales3<\/sup> and $3 million of amortization).\n<\/p>\nOperations<\/b><\/p>\n \nThird quarter 2022 highlights for each of the Company\u2019s operations are provided below.\n<\/p>\n \n\n| \n Palmarejo, Mexico<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Tons milled<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 538,750<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n539,600\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n565,211\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n587,615\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n517,363\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.049<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.054\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.056\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.055\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.050\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average silver grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3.53<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.95\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.87\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.86\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.86\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate \u2013 Au<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 93.3<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n92.4\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n90.6\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n89.7\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n93.7\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate \u2013 Ag<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 84.9<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n84.2\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n83.0\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n81.3\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n85.5\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 24,807<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,109\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,931\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,748\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24,254\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces produced (000\u2019s)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1,612<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,795\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,813\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,843\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,708\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 24,378<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n29,285\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,242\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,706\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24,897\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces sold (000\u2019s)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1,554<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,855\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,796\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,813\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,715\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,447<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,507\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,419\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,374\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,335\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per silver ounce<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 19.01<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.56\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n23.94\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n23.26\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.15\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 64.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n86.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n83.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n80.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n74.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales3<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 43.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n49.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n43.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n38.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n39.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 948<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n855\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n730\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n653\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n704\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AgOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 12.67<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n12.97\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n12.43\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n11.25\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n12.50\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 12.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n34.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n32.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n23.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 10.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n13.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \u2014<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.1\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n0.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 10.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n13.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 2.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n12.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n20.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n14.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational<\/i><\/p>\n\n- \nThird quarter gold and silver production totaled 24,807 and 1.6 million ounces, respectively, compared to 27,109 and 1.8 million ounces in the prior period and 24,254 and 1.7 million ounces in the third quarter of 2021\n<\/li>\n<\/ul>\n
\n- \nProduction during the quarter was impacted by lower gold and silver grades, partially offset by higher average gold and silver recoveries. Higher recoveries in the quarter reflect recent enhancements in the flotation and solution management processes\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nThird quarter adjusted CAS1<\/sup> for gold and silver on a co-product basis increased 11% and decreased 2% to $948 and $12.67 per ounce, respectively, driven by lower grades\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures increased 7% quarter-over-quarter to $11 million, reflecting continued investment in underground development and infill drilling\n<\/li>\n<\/ul>\n
\n- \nFree cash flow1<\/sup> in the third quarter totaled $2 million compared to $12 million in the prior period, largely driven by lower metal sales\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nExploration investment for the third quarter decreased 22% to approximately $3 million ($2 million expensed and $1 million capitalized), compared to roughly $4 million ($2 million expensed and $2 million capitalized) in the prior period\n<\/li>\n<\/ul>\n
\n- \nThe number of active rigs was reduced from six in the beginning of the period to three by the end of the quarter. Infill drilling during the period focused on the Nacion zone (located within the Guadalupe deposit) while expansion drilling continued to focus on the northwest extension of the Hidalgo zone (located at the northwest end of the Independencia deposit) where multiple mineralized veins in both the footwall and hanging wall portions were encountered, suggesting a potential extension of the ore body\n<\/li>\n<\/ul>\n
\n- \nScout drilling was also performed during the quarter focused at the La Carmela zone (located within the Guazapares district and to the east and outside of the gold stream area of interest)\n<\/li>\n<\/ul>\n
\n- \nCoeur expects two drill rigs to be active at Palmarejo in the fourth quarter focused on expansion drilling at the Hidalgo zone\n<\/li>\n<\/ul>\n
Other<\/i><\/p>\n\n- \nApproximately 38% (9,253 ounces) of Palmarejo\u2019s gold sales in the third quarter were sold under its gold stream agreement at a price of $800 per ounce. The Company anticipates approximately 38% – 42% of Palmarejo\u2019s gold sales for 2022 will be sold under the stream agreement\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nFull-year 2022 production is expected to be 100,000 – 110,000 ounces of gold and 6.0 – 7.0 million ounces of silver\n<\/li>\n<\/ul>\n
\n- \nCAS1<\/sup> in 2022 are expected to be $825 – $925 per gold ounce and $12.75 – $13.75 per silver ounce\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures are expected to be $48 – $53 million\n<\/li>\n<\/ul>\n
\n\n| \n Rochester, Nevada<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Ore tons placed<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,551,353<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,236,459\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,377,873\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,823,764\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,427,078\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average silver grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.37<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.35\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.34\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.40\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.43\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.004<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.003\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.003\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.003\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.002\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces produced (000\u2019s)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 745<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n689\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n655\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n757\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n739\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 8,761<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,319\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,066\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,864\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,051\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Silver ounces sold (000\u2019s)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 733<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n683\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n638\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n801\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n758\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 8,725<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,071\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,928\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,386\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,559\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per silver ounce<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 19.10<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.42\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.00\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.98\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n24.27\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,852<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,883\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,864\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,797\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,785\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 30.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n30.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n26.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n31.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n28.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales3<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 50.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n38.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n32.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n37.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n31.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AgOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 18.46<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n20.85\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.06\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n21.76\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n22.68\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CASper AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 1,821<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,763\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,720\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,707\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,665\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 0.6<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (13.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(9.1\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(19.7\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(12.3\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(9.5\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 5.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n4.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n5.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 68.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n42.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n30.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n48.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n37.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 74.0<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n47.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n33.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n53.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n40.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (87.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(56.1\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(52.8\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(66.2\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(49.6\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational<\/i><\/p>\n\n- \nSilver and gold production increased 8% and 5% in the third quarter, respectively, to 744,880 and 8,761 ounces compared to 689,169 and 8,319 ounces in the prior period and 738,554 and 6,051 ounces in the third quarter of 2021. Higher production in the period was primarily driven by the breakthrough of material placed on the pad in the prior period\n<\/li>\n<\/ul>\n
\n- \nThe Company completed installation and commissioning of pre-screens on the existing crusher corridor during the third quarter. Early testing of the pre-screens have confirmed expectations as shown by improvements on product top sizing while maintaining lower fine material generation. Coeur will continue to conduct testing and optimization of the product size placed under leach to gain experience and knowledge from the pre-screens to facilitate the integration of pre-screen technology into the new crusher system flowsheet\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nThird quarter adjusted CAS1 <\/sup>figures in the table above and highlighted below exclude the impact of an LCM adjustment totaling approximately $21 million related to the net realizable value of metal and leach pad inventory due to higher operating costs exceeding the lower market value of ounces under leach at Rochester\n<\/li>\n<\/ul>\n
\n- \nThird quarter adjusted CAS1<\/sup> for silver and gold on a co-product basis totaled $18.46 and $1,821 per ounce, respectively, largely driven by continued increased fleet maintenance and consumable costs\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures increased 57% quarter-over-quarter to $74 million, reflecting increased spending related to the POA 11 expansion project\n<\/li>\n<\/ul>\n
\n- \nFree cash flow1<\/sup> in the third quarter totaled $(88) million compared to $(56) million in the prior period\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nQuarterly exploration investment decreased 38% quarter-over-quarter to approximately $1 million ($0.6 million expensed and $0.7 million capitalized)\n<\/li>\n<\/ul>\n
\n- \nValidation drilling at Lincoln Hill concluded during the quarter\n<\/li>\n<\/ul>\n
\n- \nCoeur plans to have one reverse circulation drill rig active at Rochester during the fourth quarter to perform condemnation drilling on areas that will be utilized for new facilities\n<\/li>\n<\/ul>\n
\n- \nAdditionally, the Company plans to continue surface mapping and sampling of West Rochester and the Rochester pit, as well as to expand the soil sampling grid covering both areas\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nFull-year 2022 production is expected to be 3.0 – 4.0 million ounces of silver and 35,000 – 43,000 ounces of gold\n<\/li>\n<\/ul>\n
\n- \nCAS1<\/sup> in 2022 are expected to be $20.00 – $26.00 per silver ounce and $1,650 – $1,850 per gold ounce\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures are expected to be $220 – $260 million\n<\/li>\n<\/ul>\n
\n\n| \n Kensington, Alaska<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Tons milled<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 175,246<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n175,722\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n165,968\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n168,295\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n160,596\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average gold grade (oz\/t)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.18<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.17\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.14\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.21\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.19\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average recovery rate<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 91.1<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n91.6\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n95.3\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n93.9\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n93.0\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces produced<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 28,214<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,866\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n22,646\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,516\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,621\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gold ounces sold<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 27,609<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,666\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n22,834\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,888\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n29,902\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce, gross<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,808<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,842\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,967\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,790\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,764\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Treatment and refining charges per gold ounce<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 33<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n34\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n37\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n27\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n29\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Average realized price per gold ounce, net<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,775<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,808\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,930\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,763\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,735\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Metal sales<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 49.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n50.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n44.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n59.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n51.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Costs applicable to sales3<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 40.3<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n39.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n36.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n37.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n34.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted CAS per AuOz1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 1,455<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,399\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,610\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,111\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,150\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Prepayment, working capital cash flow<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (9.6<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(0.1\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n7.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n(7.4\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Exploration expense<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 2.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n0.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n2.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cash flow from operating activities<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.2<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.7\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n10.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n26.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n13.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Sustaining capital expenditures (excludes capital lease payments)<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 7.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n7.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n6.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Development capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \u2014<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total capital expenditures<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 7.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n7.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n8.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n6.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free cash flow1<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (7.3<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n3.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n18.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n7.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Operational<\/i><\/p>\n\n- \nGold production increased slightly in the third quarter to 28,214 ounces compared to 27,866 ounces in the prior period and 28,621 ounces in the third quarter of 2021\n<\/li>\n<\/ul>\n
\n- \nHigher production during the period was driven by a slightly higher average gold grade, partially offset by lower average gold recoveries\n<\/li>\n<\/ul>\n
Financial<\/i><\/p>\n\n- \nThird quarter adjusted CAS1<\/sup> totaled $1,455 per ounce compared to $1,399 per ounce in the prior period, reflecting continued higher consumable costs and employee-related expenses\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures decreased quarter-over-quarter to $7 million due to lower capital development as well as timing of capital projects\n<\/li>\n<\/ul>\n
\n- \nFree cash flow1<\/sup> in the third quarter totaled $(7) million compared to $2 million in the prior period largely driven by lower operating cash flow, including cash outflow of approximately $10 million associated with the Company\u2019s prepayment agreement at Kensington\n<\/li>\n<\/ul>\n
Exploration<\/i><\/p>\n\n- \nExploration investment in the quarter totaled approximately $3 million ($3 million expensed and $1 million capitalized), compared to $3 million ($1 million expensed and $2 million capitalized) in the prior period\n<\/li>\n<\/ul>\n
\n- \nUp to four underground drill rigs were focused on expansion and infill drilling at Elmira, Kensington, Johnson, and Jualin, while one surface drill rig targeted scout drilling in the Valentine\/Fremming and Comet areas\n<\/li>\n<\/ul>\n
\n- \nInfill drilling at the Kensington Zone 30, Zone 12 and Elmira structures continues to intercept zones of consistent widths and grades with the potential to extend mine life\n<\/li>\n<\/ul>\n
\n- \nIn the fourth quarter, three underground drill rigs are expected to focus on infill and expansion drilling at multiple zones at Kensington, Johnson and Elmira\n<\/li>\n<\/ul>\n
Guidance<\/i><\/p>\n\n- \nFull-year 2022 production is expected to be 110,000 – 120,000 gold ounces\n<\/li>\n<\/ul>\n
\n- \nCAS1<\/sup> in 2022 are expected to be $1,300 – $1,400 per gold ounce\n<\/li>\n<\/ul>\n
\n- \nCapital expenditures are expected to be $30 – $35 million\n<\/li>\n<\/ul>\n
\n\n| \n Wharf, South Dakota<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n (Dollars in millions, except per ounce amounts)<\/i><\/b><\/p>\n<\/td>\n | \n 3Q 2022<\/b><\/p>\n<\/td>\n | \n 2Q 2022<\/b><\/p>\n<\/td>\n | \n 1Q 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 3Q 2021<\/b><\/p>\n<\/td>\n<\/tr>\n\n | | | | | | | | | | | | | | | | | | | | | | | | | |