Coeur Mining, Inc.’s (“Coeur” or the “Company”) (NYSE: CDE)(TSX: CDM) Senior Vice President and Chief Financial Officer, Peter Mitchell, will present at the Bank of America Merrill Lynch Canada Mining Conference at the Sheraton Centre Toronto Hotel on September 12, 2013 at approximately 3:15 p.m. Eastern time. A PDF of the slide presentation will be posted on the Company’s website
Highlights of Mr. Mitchell’s presentation include:
- Coeur’s second quarter 2013 financial results and full-year guidance.
- The Company’s strategic goals, including achieving greater operational consistency and maximizing net cash flow from operations.
- Coeur’s hedging strategy. The Company has proactively hedged its downside metal price exposure on approximately 25% and 35% of its forecasted silver and gold production, respectively, for the fourth quarter 2013 in response to ongoing silver and gold price volatility. The mid-August increase in silver and gold prices allowed the Company to purchase put options at $17.00/oz of silver and $1,200/oz of gold at attractive market terms. This hedging structure is designed to maintain upside leverage to precious metal prices and protect Coeur’s stockholders in the event of a short-term drop in metal prices.
The Bank of America Merrill Lynch Canada Mining Conference is an invitation-only investment conference.
Coeur Mining, Inc. is the largest U.S.-based primary silver producer and a growing gold producer. The Company has four precious metals mines in the Americas generating strong production, sales and cash flow. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. The Company also has a non-operating interest in the Endeavor mine in Australia. In addition, the Company has two silver-gold feasibility stage projects – the La Preciosa project in Mexico and the Joaquin project in Argentina. The Company also conducts ongoing exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia. The Company owns strategic investment positions in eight silver and gold development companies with projects in North and South America.
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding Coeur’s full-year operating and financial performance expectations, ability to achieve greater operational consistency, maximize net cash flow, maintain upside leverage to precious metal prices, and manage metals price risk. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that permits necessary for the planned Rochester expansion may not be obtained, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeur's production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver ore reserves, changes that could result from Coeur's future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.