Coeur Mining reports FY23 probable gold reserves 3.2M ounces

Coeur Mining reported year-end 2023 proven and probable reserves of 3.2 million ounces of gold and 243.9 million ounces of silver, net of depletion. Measured and indicated resources totaled 3.2 million ounces of gold, 196.3 million ounces of silver, 1,517 million pounds of zinc and 768.7 million pounds of lead, reflecting year-over-year increases for all metals driven by additions at Palmarejo, Rochester, Wharf and Silvertip. Inferred resources were 2.0 million ounces of gold, 92.5 million ounces of silver, 481.8 million pounds of zinc and 199.8 million pounds of lead, signifying year-over-year increases of approximately 14%, 32%, 27% and 20%, respectively. “In a year when completing Rochester’s expansion was our top priority, it’s fitting that it led the way with strong reserve and resource growth in 2023,” said Mitchell J. Krebs, President and Chief Executive Officer. “Coeur’s total exploration investment in 2023 was lower than in recent years and resource expansion was our primary goal for the year, which was achieved across all of our sites. Organic growth through elevated levels of exploration investment has been a defining characteristic of Coeur over the last several years, and our commitment to reserve and resource growth through the drill bit will continue in 2024.” Coeur’s gold and silver price assumptions for year-end 2023 reserves remained unchanged year-over-year at $1,600 per ounce and $21.00 per ounce, respectively, except Kensington at $1,850 per gold ounce. The Company’s price assumptions for year-end 2023 resources also remained unchanged year-over-year at $1,800 per ounce of gold, $25.00 per ounce of silver, $1.30 per pound of zinc, and $1.00 per pound of lead, except Kensington at $2,000 per gold ounce.