Coeur Mining and SilverCrest Combine to Create Global Leading Silver Company

Meeting Logistics

Reasons to Vote FOR

The following transaction highlights are sourced from the October 4, 2024 announcement:

• Creates a Leading Global Silver Company – Together with Coeur’s growing silver production from its recently expanded Rochester mine in Nevada and its Palmarejo underground mine in northern Mexico, the addition of Las Chispas is expected to generate peer-leading 2025 silver production of approximately 21 million ounces from five North American operations, with approximately 56% of revenue generated from U.S.-based mines and approximately 40% of revenue from silver. In addition to the peer-leading silver production, the combined company is expected to produce approximately 432,000 ounces of gold in 2025⁽¹⁾.
• Adds World-Class Las Chispas Operation to Coeur’s Portfolio – SilverCrest’s Las Chispas underground mine in Sonora, Mexico is one of the world’s highest-grade, lowest cost, and highest-margin silver and gold operations. Las Chispas commenced production in late 2022 and has delivered strong operational and financial results in 2023, selling approximately 10.25 million silver equivalent ounces at average cash costs of US$7.73 per ounce.
• Significant and Immediate Addition to Coeur’s Rising Free Cash Flow – The combined company is expected to generate approximately US$700 million⁽¹⁾ of EBITDA⁽²⁾ and US$350 million⁽¹⁾ of free cash flow⁽²⁾ in 2025 at lower overall costs and higher overall margins.
• Dramatically Accelerates Coeur’s Deleveraging Initiatives – The combination of SilverCrest’s strong balance sheet consisting of total treasury assets of US$122 million (cash and equivalents position of US$98 million and US$24 million of bullion)⁽³⁾ and no debt and its strong cash flow profile are expected to accelerate Coeur’s debt reduction initiative and result in an immediate 40% expected reduction in Coeur’s leverage ratio upon closing.
• Bolsters Coeur Board by Adding Two SilverCrest Directors – Upon closing, current SilverCrest Chief Executive Officer and Director, N. Eric Fier and Director, Pierre Beaudoin will join Coeur’s board of directors, adding extensive and relevant experience to an already distinguished board of directors.
• Continued Commitment to ESG Leadership – A shared commitment to ESG with a specific focus on water usage, emissions, community and workforce development, and leading governance practices.

¹ Based on analyst consensus for 2025.
² EBITDA and free cash flow are non-GAAP and non-IFRS financial measures.
³ As of June 30, 2024
Note: Please see "Key Documents" below for further information, including with regard to Forward Looking Statements.

Key Documents

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Questions & Voting Assistance

Securityholders who have questions about the meeting or require assistance in voting may contact the Company's proxy solicitation agent: 

Laurel Hill Advisory Group
North American Toll Free | 1-877-452-7184
Outside North America | 1-416-304-0211
By Email | [email protected]