What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2025-02-19 compared with 2024-02-21 · 75 added, 40 removed, 358 unchanged (24% of the section changed)

15 unchanged sentences

and La Nación is located at 108º 21.809’ W longitude and 27º 21.591’ N latitude (760,797 mE, 3,029,051 mN).

All coordinates are in the Universal Transverse Mercator (WSG 84), Zone 12.

All coordinates are in the Universal Transverse Mercator (WGS 84), Zone 12.

Access to the property is provided by air, rail, and all-weather paved and gravel roads from the state capitol of Chihuahua.

20 unchanged sentences

The centroid location for the Rochester site is 400600 E, 4460300 N and the centroid of Rochester pit is located at 4002045 E, 4460050 N and Nevada Packard open pit is located at 400600 E, 4456675 E.

All coordinates are in Universal Transverse Mercator (WSG 84), Zone 11T.

All coordinates are in Universal Transverse Mercator (WGS 84), Zone 11T.

In November 2018, Coeur Rochester acquired the Lincoln Hill, Gold Ridge and Wilco projects adjacent to Rochester from Alio Gold.

1 unchanged sentence

Ore is mined using conventional open pit methods, with gold and silver recovered by heap leaching of crushed open-pit ore placed on pads located within the Rochester mining area.

Rochester is currently undergoing commissioning and ramp-up of an expansion under POA 11.

The expansion project included the construction of a new leach pad, a crushing facility equipped with two high-pressure grinding roll units and a prescreen, a Merrill-Crowe process plant, and related infrastructure to support the extension of Rochester’s mine life.

Commissioning and ramp-up are expected to be completed in the first half of 2024.

Rochester completed the ramp-up and expansion of the operation in 2024.

This project included the construction of a new leach pad, a three-stage crushing facility, a Merrill-Crowe process plant, and related infrastructure to support the extension of Rochester’s mine life.

Near Lovelock, Nevada (West-Central Nevada, USA)

27 unchanged sentences

All coordinates are in Universal Transverse Mercator (NAD 1983), Zone 8V.

Kensington is currently undertaking a planned expansion under POA 1, which would increase tailings and waste rock storage capacity to support an expected longer mine life, reflecting positive exploration results, improved metal prices and ongoing operational efficiencies.

Kensington has completed the planned expansion under POA 1, which increased tailings and waste rock storage capacity to support an expected longer mine life, reflecting positive exploration results, improved metal prices and ongoing operational efficiencies.

Juneau, Alaska (Southeast Alaska, USA)

7 unchanged sentences

The mineral estate to these 14 patented lode claims is owned by the State of Alaska, the mineral rights to which are secured by a State of Alaska upland mining lease.

• The Company controls properties comprising the Jualin Group, under a lease agreement with Hyak Mining Company, which is valid until August 5, 2035 and thereafter, provided mining and production are actively occurring within and from the leased premises.

• The Company controls properties comprising the Jualin Group, under a lease agreement with Hyak Mining Company (“Hyak”), which is valid until August 5, 2035 and thereafter, provided mining and production are actively occurring within and from the leased premises.

Key Permit Conditions:

8 unchanged sentences

• A security interest in the Kensington mine has been granted in favor of the lenders under the RCF.

• Coeur Alaska is obligated to pay the royalty holder a scaled net smelter return royalty on 1 million troy ounces of gold production from certain deposits, after Coeur Alaska recoups the $32.5 million purchase price, plus construction and development expenditures and certain operating, exploration, and development costs.

The royalty ranges from a rate of 1% at $400/oz gold prices to a maximum of 2.5% rate at gold prices above $475/oz.

• Coeur Alaska is obligated to pay Hyak Mining Company (“Hyak”) annually, during the initial term of the mining lease, an advance minimum royalty of $231,000, which amount is adjusted every three years in accordance with changes in the Consumer Price Index as published by the U.S.

• Coeur Alaska is obligated to pay a subsidiary of Triple Flag Precious Metals Corp.

(“Triple Flag”) a net returns royalty on up to two million troy ounces of gold produced from the current boundaries of the Kensington mine at a rate of:

(i) 1.25% for production occurring from January 1, 2024 through December 31, 2026 and (ii) 1.5% for production occurring on or after January 1, 2027.

• Coeur Alaska is obligated to pay Hyak annually, during the initial term of the mining lease, an advance minimum royalty of $231,000, which amount is adjusted every three years in accordance with changes in the Consumer Price Index as published by the U.S.

Department of Commerce for all Urban Consumers, City of Anchorage, Alaska.

4 unchanged sentences

Coordinates for the project centroid are 44°20’03”N Latitude, 103°50’06”W Longitude and the Wharf Mine coordinates are 44°20’39”N Latitude, 103°51’02”W Longitude.

All coordinates are in Universal Transverse Mercator (WSG 84).

All coordinates are in Universal Transverse Mercator (WGS 84).

Access is established by paved road with power supplied by a local power company.

23 unchanged sentences

• Wharf is party to other royalty agreements for which there are no mineral resources or mineral reserves associated with them in the current life-of-mine plan.

Mexico - Las Chispas

The Las Chispas operation, operated by our wholly-owned subsidiary, Compania Minera La Llamarada S.A.

de C.V., consists of:

(1) the Las Chispas processing facility;

(2) the Las Chispas underground mine;

and (3) other nearby deposits and exploration targets.

The Las Chispas operation is located on the western edge of the north-trending Sierra Madre Occidental Mountain Range and is geographically adjacent to the Sonora Valley.

The Las Chispas operation is located approximately 220 km miles northeast of the city of Hermosillo, in the state of Sonora in Northern Mexico at approximately 30.233902°N latitude and 110.163396°W longitude (580,500E, 3,344,500N), within the Arizpe Mining district.

All coordinates are in Universal Transverse Mercator (WGS 84), Zone 12.

Access to the property is provided by highway leading from the city of Hermosillo in Sonora, Mexico, and 350 km southwest of Tucson, Arizona.

State of Sonora, Northern Mexico

Metals/Mineralization:

Silver and Gold, classified as epithermal deposits and are hosted in multiple veins, breccias, and fractures

Land Position:

3,425 net acres

Mineral Tenure:

27 wholly-owned mining concessions

Key Permit Conditions:

Authorizations are in place that regulate typical life of mine functions, including mineral processing production facilities and utilities, mining operations, tailings and waste rock storage, exploration, surface disturbance, land use, vegetation and change in soil use, air emissions, water use, waste generation, and reclamation.

Major authorizations were obtained through the completion of several MIAs (Manifestación de Impacto Ambiental), permits associated with forestry vegetation disturbance of change in soil use (Cambio de Uso de Suelo en Terrenos Forestales), the required authorizations from the National Water Commission (Comisión Nacional del Agua or CONAGUA) for water resource uses, and special handling waste through the Comisión de Ecología y Desarrollo Sustentable del Estado de Sonora (CEDES).

Operational standards and best management practices (BMPs) have been established to maintain compliance with applicable regulatory standards and permits.

Monitoring programs are established and there is a conceptual reclamation and closure plan prepared in alignment with relevant standards (e.g., Normas Oficiales Mexicanas, NOMs) that reflects current mining, mitigation, and site facilities.

Compania Minera La Llamarada is obligated to pay a 2% royalty on the Nuevo Lupena and Panuco II concessions for material that has processed grades > 0.5 oz/tonnes gold and > 40 oz/tonnes silver, combined.

EXPLORATION PROJECTS

9 unchanged sentences

Land Position & Mineral Tenure:

• Sixty-six (66) contiguous mineral claims containing approximately 39,375 hectares (97,298 acres) and two mining leases containing approximately 1,528 hectares (3,777 acres).

• Seventy-Three (73) contiguous mineral claims containing approximately 48,998 hectares (121,076 acres), three mining leases containing approximately 1,828 hectares (4,517 acres), and approximately 681 hectares (1,683 acres) under an option agreement entered into November 2024.

In total, the Silvertip mine covers an area of approximately 51,507 hectares (127,276 acres)

• Suspended operating activities in February 2020;

ongoing exploration and technical work to evaluate and support a potential expansion and restart

• Silvertip is obligated to pay a 2.5% net smelter return royalty payable to the royalty holder on all mineral products produced from the Silvertip property, payable quarterly.

ongoing exploration and technical work to evaluate and support a potential future operation

• Silvertip is obligated to pay a 2.5% net smelter return royalty payable to Triple Flag on all mineral products produced from the Silvertip property, payable quarterly.

• Silvertip is party to an agreement with the Kaska Nation which, among other things, provides for annual payments to the Kaska Nation calculated based on the financial performance of the Silvertip property and the average price of silver for the relevant calendar year.

39 unchanged sentences

Changes to database entries are required to be documented.

Data are subject to regular backups.

Data is subject to regular backups.

Mineral Resource and Mineral Reserve Estimates

8 unchanged sentences

Mineral resources and mineral reserves are estimates that contain inherent risk and depend upon geologic interpretation and statistical inferences drawn from drilling and sampling analysis, which may prove to be unreliable.

See Risk Factors in Item 1A for additional information.

See “Item 1A - Risk Factors” for additional information.

MINERAL RESERVES

6 unchanged sentences

100% 3,473 0.059 205 8,373 0.057 475 11,845 0.057 681

Las Chispas (8)

100% 787 0.150 118 2,700 0.088 239 3,486 0.102 357

United States

12 unchanged sentences

100% 3,473 3.94 13,667 8,373 3.86 32,307 11,845 3.88 45,974

Las Chispas (8)

100% 787 16.00 12,586 2,700 7.75 20,931 3,486 9.61 33,516

United States

14 unchanged sentences

assumption of conventional longhole underground mining;

reported above a variable gold equivalent cut-off grade that ranges from 2.11–2.97 g/t AuEq and an incremental development cut-off grade ranging from 1.16–1.55 g/t AuEq;

reported above a variable gold equivalent cut-off grade that ranges from 2.13–2.45 g/t AuEq and an incremental development cut-off grade 1.05 g/t AuEq;

metallurgical recovery assumption of 92.0% for gold and 83.0% for silver;

8 unchanged sentences

Rochester sulfide variable recovery Au = 15.2–77.7% and Ag = 0.0–59.4%;

with a net smelter return cutoff of $3.01/st oxide and US$3.11/st sulfide;

with a net smelter return cutoff of $3.76/ton oxide and US$3.86/ton sulfide;

Nevada Packard oxide recovery Au = 92.0% and Ag = 61.0%;

with a net smelter return cutoff of $5.51/st for oxide, where the NSR is calculated as resource net smelter return (NSR) = silver grade (oz/ton) * silver recovery (%) * (silver price ($/oz) - refining cost ($/oz)) + gold grade (oz/ton) * gold recovery (%) * (gold price ($/oz) - refining cost ($/oz));

with a net smelter return cutoff of $4.24/ton for oxide;

Lincoln Hill oxide recovery Au = 63.9% and Ag = 39.5%;

with a net smelter return cutoff of $4.53/ton for oxide where the NSR is calculated as resource net smelter return (NSR) = silver grade (oz/ton) * silver recovery (%) * (silver price ($/oz) - refining cost ($/oz)) + gold grade (oz/ton) * gold recovery (%) * (gold price ($/oz) - refining cost ($/oz));

variable pit slope angles that approximately average 48º over the life-of-mine

2 unchanged sentences

gold price of $2,000/oz;

reported above a gold cut-off grade of 0.135 oz/st Au;

reported above a gold cut-off grade of 0.133 oz/ton Au;

metallurgical recovery assumption of 94.2%;

13 unchanged sentences

pit slope angles that vary from 34–50º;

mining costs of US$2.44/ton mined, process costs of US$11.71/ton processed (includes general and administrative costs).

mining costs of US$2.56/ton mined, process costs of US$12.02/ton processed (includes general & administrative and sustaining capital costs).

(8) Mineral Reserve estimates uses the following key input parameters:

assumption of conventional underground mining;

reported above a silver cut-off grade of 250 g / tonne silver equivalent and an incremental development cut-off grade of 63 g / tonne AgEq;

metallurgical recovery assumption of 97.5% for silver and 98.0% for gold;

mining dilution assumes 5% for development, 1 meter to 1.5 meters of ELOS (0.5 m – 1.0 m of hanging wall and 0.25 m – 0.5 m of footwall dilution) depending on geotechnical conditions in each stoping location, 0.2 meter ELOS (0.1 m of hanging wall and 0.1 m of footwall dilution) for cut and fill, 0.4 meter ELOS (0.2 m of hanging wall and 0.2 m of footwall dilution), 0.25 m for each exposed backfill floor, and 0.5 m for each exposed backfill wall;

mining loss of 2% for development and 5% for stoping was applied, additional losses have been included to account for the required pillars in uphole stopes that cannot be filled;

variable production mining costs that range from US$58.06–US$239.51/tonne, development mining costs of US$27.40/tonne, process costs of US$45.72/tonne, site general and administrative costs of US$20.70/tonne, underground general and administrative costs of US$12.81/tonne, and sustaining capital costs of US$7.64/tonne.

(9) Rounding of short tons, grades, and troy ounces, as required by reporting guidelines, may result in apparent differences between tons, grades, and contained metal contents.

8 unchanged sentences

100% 6,996 0.068 474 15,368 0.062 949 22,363 0.064 1,423 6,577 0.098 643

Las Chispas Mine, Mexico (10)

100% 116 0.305 35 1,094 0.110 120 1,211 0.129 156 1,276 0.113 144

United States

5 unchanged sentences

100% 10,180 0.017 175 49,155 0.017 845 59,335 0.017 1,019 26,735 0.018 470

Lincoln Hill Project, USA (9)

100% 4,642 0.012 58 27,668 0.011 306 32,310 0.011 364 22,952 0.011 255

Wilco Project, USA (9)

9 unchanged sentences

100% 6,996 4.59 32,138 15,368 3.76 57,777 22,363 4.02 89,915 6,577 5.28 34,748

Las Chispas Mine, Mexico (10)

100% 116 31.15 3,623 1,094 9.87 10,798 1,211 11.91 14,421 1,276 7.90 10,088

United States

1 unchanged sentence

100% 82,371 0.28 23,383 40,402 0.34 13,541 122,773 0.30 36,924 116,521 0.36 41,838

Lincoln Hill Project, USA (9)

100% 4,642 0.34 1,592 27,668 0.31 8,655 32,310 0.32 10,247 22,952 0.36 8,163

Wilco Project, USA (9)

49 unchanged sentences

pit slope angles that vary from 34–50º;

mining costs of $2.44/ton mined, process costs of US$11.71/ton processed (includes general and administrative costs).

mining costs of $2.56/ton mined, process costs of US$12.02/ton processed (includes general & administrative and sustaining capital costs).

(7) Mineral Resource estimates are tabulated within a confining pit shell and use the following input parameters:

1 unchanged sentence

Rochester sulfide variable recovery Au = 15.2–77.7% and Ag = 0.0–59.4%;

with a net smelter return cutoff of $3.01/st oxide and US$3.11/st sulfide;

with a net smelter return cutoff of $3.76/ton

oxide and US$3.86/ton sulfide;

Nevada Packard oxide recovery Au = 92.0% and Ag = 61.0%;

with a net smelter return cutoff of $4.24/ton for oxide;

Lincoln Hill oxide recovery Au = 63.9% and Ag = 39.5%;

with a net smelter return cutoff of $4.53/ton for oxide, where the NSR is calculated as resource net smelter return (NSR) = silver grade (oz/ton) * silver recovery (%) * (silver price ($/oz) - refining cost ($/oz)) + gold grade (oz/ton) * gold recovery (%) * (gold price ($/oz) - refining cost ($/oz));

variable pit slope angles that approximately average 48º over the life-of-mine.

1 unchanged sentence

Mineral Resources are reported insitu using the following assumptions:

The estimate use the following key input parameters:

The estimates use the following key input parameters:

lead recovery of 89-90%, zinc recovery of 82-83% and silver recovery of 83-84%.

3 unchanged sentences

processing costs of US$58.20/tonne and US$46.49/tonne, where the NSR ($/tonne) = tonnes x grade x metal prices x metallurgical recoveries – royalties – TCRCs – transport costs over the life of the mine.

(9) Open Pit Mineral Resource estimates are reported in-situ and are contained within a confining pit shell and use the following key input parameters:

reported above an oxide gold equivalent cutoff of 0.15 ounces per ton and 0.20 oz ounces per ton assuming a silver to gold ratio of 60:1;

gold recoveries of 64%;

silver recoveries of 59%;

mining costs of US$3.10/ton;

process costs of US$3.60/ton;

general and administrative costs of $1.50/ton processed;

average pit slope angles of 45º over the life-of-mine.

The technical and economic parameters are those that were used in the 2018 Resource Estimation.

Based on the QPs review of the estimate, there would be no material change to the Mineral Resource if a gold price of US$1,700/oz, a silver price of US$22/oz or economic parameters were updated.

Therefore the 2018 Mineral Resource is considered current and is presented unchanged.

2023 metal prices were used to determine the mineral resource which were $25.00 per ounce of silver, $1.30 per pound of zinc, $1.00 per pound of lead.

(9) Open Pit Mineral Resource estimates are reported using an equivalent gold cutoff of 0.20 ounces per ton assuming a silver to gold ratio of 60:1.

9 unchanged sentences

Therefore the 2018 Mineral Resource report is considered current and is presented unchanged.

(10) Mineral Resource estimates uses the following key input parameters:

assumption of conventional underground mining;

reported above a silver cut-off grade of 205 g / tonne silver equivalent and an incremental development cut-off grade of 54 g / tonne AgEq;

metallurgical recovery assumption of 97.5% for silver and 98.0% for gold;

mining loss of 2% for development and 5% for stoping was applied, additional losses have been included to account for the required pillars in uphole stopes that cannot be filled;

variable production mining costs that range from US$58.06–US$239.51/t, development mining costs of US$27.40/t, process costs of US$45.72/t, site general and administrative costs of US$20.70/t, underground general and administrative costs of US$12.81/t, and sustaining capital costs of US$7.64/t.

(11) Rounding of short tons, grades, and troy ounces, as required by reporting guidelines, may result in apparent differences between tons, grades, and contained metal contents.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties