The following is a summary of the Coeur Mining, Inc. (CDE) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Coeur Mining, Inc. reported a substantial increase in quarterly adjusted EBITDA, jumping 136%, with LTM adjusted EBITDA up 90% to $192 million.

• Higher metals prices and stronger production significantly contributed to the financial results, alongside declining levels of capital spending at Rochester.

• Several refinements were made to 2024 cost guidance, reflecting improvements at different operations, and overall 2024 CapEx and exploration guidance adjustments.

Business Progress:

• Rochester's production ramp-up is successful, with improvements in silver and gold output by nearly 40%.

• The acquisition from Fresnillo has expanded opportunities at Palmarejo, with new concessions providing potential for higher-margin mine lives.

• The summer exploration program at Silvertip and the aggressive underground developments at Kensington indicate proactive efforts in expanding mineral resources and operational capacities.

Opportunities:

• Higher commodity prices and the ramped-up operations at Rochester present significant opportunities for revenue growth.

• The large prospective land position from Fresnillo acquisition provides new, higher-margin mine life extension possibilities at Palmarejo.

Risks:

• The increase in cost guidance at Rochester reflects excess trucking capacity used due to lighter than planned tonnes placed, which may impact operational expense.

• The completion of underground developments and transitions to positive free cash flow can impose risks if not managed correctly, requiring careful operational and financial handling.

More details: Coeur Mining IR

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