CDE - Earnings call transcript Q1 2024

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Operator

Good morning. and welcome to the Coeur Mining First Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please also note that this event is being recorded today.

I would now like to turn the conference over to Mitch Krebs, President and Chief Executive Officer. Please go ahead.

Mitchell J. Krebs

Okay. for call. thanks and everyone, joining our Hello,

our Before cautionary and Overall, today's language I highlights want on filings slide March some that before process excitement the we accomplishment, off out Commercial over our to has point on to More on ore balance often a minute. SEC happening what had a earlier XXXX on operations our but on hood the and Slide you a about we that. example being the X I'll a brief this Aoife. importance of X. refer kick with start, which deck and We over to website. quarter was multi-asset of our Palmarejo new to began turning forward-looking plan, strong balanced which just of Rochester's it's production was the the great Wharf portfolio the helped underneath and call beyond. year, Palmarejo been X statements quarters leads a compared in weeks Tom provided later, to crusher, to quarter great first strategic the had fresh to does a great year. a there which first a successful to X achieved the company offset months having in outperformance planned of was showing transitional nice solid a and job the after quarter-by-quarter compared XXXX. puts first stood X and company to both profile for guidance of Wharf position production quarter Mick, where . Slide the talk of in for Rochester we in

Rochester and year will accelerated expenditures revenue in flow the condition to while continue track these debt now assuming of free outlook. basis, throughput the which circuit jumped process of paces. second expansion to to per on in the quarter be company-wide silver That crushing its the [ flip rate rapid XX,XXX in gold overall tons financial and middle which dropped with put In over a adjusted dramatic for through we EBITDA increased XX%. further new all rearview routinely placing year-over-year, repayment. We're be the is deleveraging the during day a half Rochester, significantly occasionally ] processing improvement Stans the current mirror. off Capital overall positive and On earmarked leading positive exceeding of levels XX% prices and and cash ore as catalysts, our can run

to curve rapid is operating real at The this there the a is world-class testament ramp-up experience operation. the team knowledge and bringing

are over Rochester on call briefly Mick we to that near-term details, some our for growth want other to expected at key the to turning initiatives progress the I augment touch from anticipate some Rochester. plans and Before additional

life Aoife extension First Kensington, investment pointing development of its year final flexibility. extending year, Positive minutes. end operational in by results underground up is which for mine few more will to elevated full a progress substantial a and potential aimed is its life its about mine impressive the talk are this exploration enhancing and in which of the at

acquisition occurred the developing at comprehensive The development the ground cash the X our infrastructure from outside the the east blocks profile drilling hopefully, later of term, sits materially on goal production concessions is flow Palmarejo's the to years. Palmarejo X the to the potential a operation. within continue medium stream of ] existing boundaries nearest to Franco-Nevada completed, gold next the of the is and running The current recently [ the hit just Fresnillo and year. these once supplement Over this and acquired has we plan located of lands to

build to of and Silvertip prices, in continues exploration from excitement positioned. The catalysts, completed polymetallic these Columbia, exploration a all a shortly. Aoife higher term, at longer leaves our America well North and mines apart a sets convergence Canadian British will project world-class Rochester, of us us the project our cover U.S.-centric suite of in commodity which very high-grade Over stable peers

our is higher keep we and Finally, report raising the this as does last standard. week, we ESG great XXXX our published We job area on report to a efforts continue our -- try pursuing highlights to which a Slide XX. summarized the in bar detailing leadership

I'll call turn to over the that, Mick. With

Michael Routledge

Thanks, Mitch.

first haven't results, XXXX you ESG have I'll recommendation Coeur's some with our operating reviewing quarter Before already. time if report, a to spend

priority was sustainability, Rochester's at in responsibility very heart told operational delivers years, operator are and safety experiences ], last over I'm a X the foundation and strong While success. a significant construction [ an building

the addition call votes particularly I'm In to ESG X highlighted, from strong proud Mitch headlines to on report. the

to the leading indicators companies to #X member safety do areas. key our the our XX% global easy management, [indiscernible] on First, standard we'll decision is among these the That in our and second, always group position thing [indiscernible] both of for adopt right the in in not and a peer is industry non-ICMM to continue the year tailings row do, thing do. dedicate to so. to industry in ourselves to second

our to Turning quarterly results.

production most guidance and to the Watch be up drive year. provided year. half, second change production quarterly start solid will to Wharf moved production. operating the we with of pleased day-to-day the expected that this earlier [indiscernible] significantly XXXX in improvement the is are towards as with consistent We illustrates, of

expectations. production quarter XXX,XXX in in Saying X,XXX Silver right gold and nearly with totaled with ounces, respectively, and the Rochester, first line our

the the the from [indiscernible] in starting to fourth was using and we're liner, maximizing it run, focus planned crusher from optimize ore the the can stockpiles par and Mining buy which new circuit of is ore cells capacity a place the tremendous as up out stages that than used giving increased the unprecedented levels more way certain March in The and team when of to with refine are our the Pad flexibility more only our we traction ultimate throughput. to the crushed new into we Following control on wins ore line, [indiscernible] intermediate stage closest crushing commissioning [indiscernible]. size XQ keeping X our operations. free want What refining of feed circuit has to and did of commenced new and rates of quarter really having X. stood

are the the The and we second reach be and maximize half ahead, remain Looking will dialing the end optimizing size our mining of on head year spending gains. Northern second exciting while priority there progress, keeping this pleased begin processing on track remains an long track remains positioned It's the in Nevada. get recoveries. we're to our for of properly [indiscernible] conclusion the XXXX to by for with run rates ramp-up work as of operation push on its quarter. to in and more time, the we to in

quarter, Palmarejo The free quarterly levels the ground drove the well growth strong from positions its years first reaching on [indiscernible]. of and Moving hit gold balance cash for silver flow production and quarterly [indiscernible] within us team to on highest in several higher-than-expected XXXX. the

in in to The inflationary label prices plant cost programs [indiscernible]. and Continued saves Mexico Mexico. on were in high continued other at headwinds pressures on efficiency costs focus mining leaning continues aimed and team and with and huge

Mitch as the focus results front was mine challenging current investment investment the our development complete first continues. that the XX% the now The on with to mentioned in scope following Moving Kensington. quarter multiyear on about for stabilizing in of positive XXXX the that operation the project.

phases increased importantly, are work perhaps the and seeing a clear more [indiscernible] to to prospect substantial We consistent more path underground of performance. extension there with

production from reach. good X Lastly year, so ahead well, typically the of with [indiscernible] the well With first Due of guidance. was our to performing [indiscernible] and a first after Rochester to what in [indiscernible] XXXX. lost seasonality, benefiting was comfortable remain start positioned ramp-up, complete also we plan the quarter quarter particularly is with the XXXX

to that, Tom. I'll call over pass With the

Thomas Whelan

Thanks, our briefly discussing first in materially beginning quarter our results on plans financial the a before third our to and sheet, delever spending moment Mick. position touch including quarter. balance financial I'll

consolidated production increase on detailed higher Palmarito the continued start favorable revenue at gold in year As with XX% the by to EBITDA prices. XX% along X, a adjusted and strong increase and year-over-year led driven a in to metals Slide Wharf,

lower had IV crusher decision Stage which XQ dismantling provided has dismantle during XXXX. of to Stage Yankee now from The the due access to the at the we grades to higher production expected, As the Rochester complete, X QX crusher is pit.

Turning to costs Slide XX. on

inflationary see We continue moderating operations. pressures across to our U.S.

semiannual annual the along onetime tax annual interest $X Mexico. notes. strong continued impacted bitline in flow ] payments experiencing we EBITDA by However, million quarter peso. have annual Mexico The Costs also been totaling inflationary cash Operating during in XXXX our with the payouts, $XX was X payment are million. mining on [ by incentive affected the senior pressures and Mexico in

since million successful lowest the for sheet. expenditures Mick The decrease Turning sustained XXXX approximately at quarterly million positive at cash a period following expenditures poised the capital a Rochester of to during the Capital Rochester to quarter free $XX $XX in the described fourth from ramp-up were earlier. XXXX. at Rochester average balance contributed the quarter, of the which first as quarterly level CapEx Coeur is company flow

we revolving million of ratio XX, and ended credit with on million X.Xx Slide on noted our facility. quarter $XXX As debt-to-EBITDA $XXX improved the net approximately drawn an

at we second the we Rochester. would draw as further that We ounces on note await breakthrough do the to silver the expect revolver of during quarter

Xx in third agreements the towards aggressively of prepaid as quarter, mill. the down drive we leverage long-term the our gold debt-to-EBITDA targets paying of beginning However, and debt-to-EBITDA sales our begin to revolver of expects company total net and achieving

with yet final price ramp significantly ATM to and the strengthening remaining currently we second the the robust to capacity. nameplate asset and improving our maximize our Rochester environment. No done, off company's not full being is commodity work roll company is potential entered reminders. a quarter a place contemplated flexibility the in our While hedges fund end commensurate with is Two portfolio important at or XXXX of in stronger up

I'll call the Aoife. now to pass

Aoife McGrath

roughly of portion Elmira to extension At upper nearby resources potential high Rochester being for approximately good exploration to being To test Thanks, Zone structures commenced . In and Upper is anticipate excitingly, wide since in highlight extending Zone At of zones, will inferred is the impress. potential recently Tom, Kensington, and recently footage. mine A pit. XXXX, add the Mick ago. very to intersect There the years quarter continue Kensington, of news in underway. program morning, the infill a is from recently is this presenting identified early investigated. around length Tom. at are with deposit. going for the also the end converted doubling program the and been for presented in drilling to that of zones to that deposit, near the especially budgeted designed the to outlined quarter Kensington, where to a the Mitch, lower parallel Preparation identified life X the drilling traced life X By Nevada and mine the here of Exploration program this be is overperforming a second in term. the focus already and XX very everyone. is over new Rochester, continuing relative and start Packard, confidence results drilling continued XX key Rochester story is drilling great be to start located to At of rigs by good rich portions we years has identified the work well additional And and is are year. strike high-grade XXXX. continue the on off well, south

At Wharf, aimed of aggressive for programs planning ensure resource deposits identify our high-grade years growth over ever. Ultimately, We world-class being known taken comprehensive leaps focus XXXX finalizing potential knowledge high the review rapid world's mineralization. At stream. [ the more to in include targets. Silvertip, the the will well order forward drilling our the a to key Palmarejo, district order drill X significant aim brownfield programs busiest of drill in by one the life. the return At expansion carbonate new drilling Coeur's we And our for across this pipeline. aggressive track outside very ] goal and underway with the the project that guiding deposit. new being this controls a is to in and a began high growth antes the program restart from foremost year allow decision scout much adding burdened to to replacement summer our of on with understanding are scout on is deposit few are inferred experts, area Franco-Nevada included at This we're to to step-outs mine preparations targets fast next

hand to the back call Mitch. I'll that, With

Mitchell J. Krebs

Aoife. Thanks,

our highlight year. XX the to for that want top moving Q&A, Before to the summarizes priorities Slide the I of remainder quickly

we've inflection Following years. almost seemingly way, conceivable been our for every work we've this at challenge to arrived thrown point working X that

With the initiatives safe continue opportunities I optimization at Rochester will at earlier. the mentioned remaining pursuing our ramp-up job and X, other we assets

we the as with free cash deleveraging point the half, As into beginning a we lot we head the flow to reach of ending in XXXX. should a be forward year look the strong inflection momentum process and what . very second

up let's investors now current and North questions. that American for environment metals them. ahead price than better is for in a supply-demand positioned exclusively with U.S.-centric success, it proposition offer unique extremely Our ever I've With investment open metals that, this precious assets silver seen go fundamentals and particularly well

Operator

from [Operator Instructions] Research Vertical Dudas Partners. question Michael come And with will our first

Michael Dudas

X have I quick questions.

to wings well, some are like hitting quite relative going milestones. Mitch, seems it Rochester, First,

As milestones, the changes that's of you how occurred to all basis kind years you X relative second looking of more at last the second this normalized and end on this reach to so. or getting given quarter mine half, do a feel the productivity

Mitchell J. Krebs

X/X-inch say Mick second be hand to run it's the the day. a think of get product work a size optimization pad. sure Stage in that to but more to into still I we of there size average rate particularly I'll over leach that tonnes of where want we and of terms there'll in of we a at do, year second, new one get fair onto to lot out XX,XXX around the making get crush half around Yes. X a to there that

in be that dialing we'll So there'll our pickup. driven volume by significant mostly structure, drop off still see but some to cost done, be the in pretty

productivity us set did anything we'll cost leave little hopefully, to and bit. with up for a into of even improvements the those and then some behind some side. And further Mick, see heading XXXX be tweaks on I

Michael Routledge

It's great. rate it's an at steadily rate, running at QX open and is really getting about average that XX. average

So exactly dial that confidence to if certainly expected which see then that was crush we're at us and we're half second than that that, more we should should the [indiscernible] already And point, X that We in that quickly, expect be X-year on years, of that the really the [indiscernible], well how little be remember we able know but comes when good and to opportunity technical a can study that of if we we year, we run dial size. gives higher curves, to [indiscernible] that for that which this in second together, don't seeing bit and report you half the doing to the some recovery we then to year. all should performance see. through land we the

Michael Dudas

where the the activity the doing the some opportunities on to Secondly, next helpful encouraged plan? of through see and years thought sight outside interesting some line work would be on that couple very kind the about given over opportunities of prices regarding into The current there the front. of are. boundary, of royalty of exploration Palmarejo, mine some you Do you're there which gold

Mitchell J. Krebs

property are Yes. Yes. the of share to the There's stuff of extensions there extensional And levels things that Independencia There in we that's Franco-Nevada your excitement. my currently line are like Nacion are east -- mining. there. X boundary. We AOI of the right mind, opportunities where sort and those or of

there the what's Guazapares over east, resource back large that represent Silver, acquired Gold if XXXX, those to more company had land They And the over [ further and gave you kind then the the Paramount a East. us in over opportunities. called to all which in of skip So ] near-term we area.

been of an some So in the in those then there medium opportunity you sources drill new a and that there, sampling medium term, opportunities X, historical Aoife, some out to in and has out in with as longer-term we twin get between add production the term. And I look busy books want term, of big and some there the we mapping add east. -- onto to think resource to our developing think that anything our to that? team to longer at that drilling represent targets get

Aoife McGrath

are there's actually covered you've think the I short, exploration. is the out to groundwork the is there medium opportunities reiterate Mitch. suppose, fully base, I No, it, But definitely in -- case, that a Until and done. yes, it's long-term And just there. typical work

You don't and understand to lot doing in same really the we on years to we're of as seeing a And the the the see X cost level we over mapping more fully understand we've activity. project. the east, get especially [indiscernible] been that last the sampling. busy area And prospectivity,

that's we're very how progressing. happy So with

Michael Dudas

up off And third just see Appreciate the here Good that. to QX. to here. my roll finish hedging in

maybe are prices doing potential so would going not the any on forward? doing are behind what and hedging be it? you're your where rationale further, Given thoughts And the what

Mitchell J. Krebs

Yes.

Our thinking construction to there, through had is gone this capital as expansion of an we've of hedges we've Mike, sort right during Rochester insurance policy now period place in intensity. the the service in of essence,

beyond But at have end plans add nothing, don't you For to Tom, quarter the current sit the have now, least any anything anything, pointed we want as second and of you here today. to... we out, as

Thomas Whelan

equity of hedge is understood well No, hedging, as I need think our importance ramp-up the yes, no understood but once holders as plans the creditors that's to for both correct. our the People complete?

Operator

come And Parkin National our question with Bank. Mike will next from

Michael Parkin

Barrick [ guys seeing at certainly that tied questions already pretty about well seems Rochester? A first to are Is Or on ] tightness. you managing stepping? something the on of Nevada, answered With were of labor questions other mostly of talk questioning. you're couple Couple line Rochester. to

Mitchell J. Krebs

other that talking some were Mines this morning, an difficult Mike, have expansion, earlier that of this extremely the think in a had what time that. And not the electricians, team about pool. things I at not add find to do of the had mechanics, more front. you like has just we to trades there that Nevada had of to I'd part anything But but roles. add success Gold challenging say lot welders, not on want similar some those That's challenged are that? But we've in to to see labor we industries although terms of a had people labor do out only Yes. is where mining those things We with many. We've Rochester. skilled filling to Mick,

Michael Routledge

turnover, I a to that's the this managed was efficient to everyone now And super otherwise, headcount. support longer on a anything saw And really bit little course, seeing flag that specialist a we're really increase so mean, not mean, why really Yes. I wait get conversant expansion, right of the typical all get lot the seeing with to concern. everywhere, And we're commission project. and quite going person up skilled ramp that operational we given only of readiness electrical team. But folks the those on we just XX%, program. XX% [indiscernible] in early the the well,

Mitchell J. Krebs

there of there, you long good life, lot good imagine, mine culture, record A Mike, out as can long excitement out the community. in track

going has a it forward, place lot people enjoy working. and it's a So

us So there. we've going got lot out a for

Michael Parkin

an guess excellent point. I that's

like to to the to forces. Gold basis, of a lot with local terms in versus on labor better location relative a operations You're commute Nevada relative of communities lot decent-sized -- you're a Mines

Mitchell J. Krebs

or in bit the east No, the probably people couldn't lot from area, of fair the make otherwise the Person is all more centrally up around state. way that LCO. further directions a a located there point. Lovelock part the over bring there northern to of little County different drive The wouldn't We

comes places of ] fair our west Southwest further into like [ the that. a number from to So the workforce Dallas

Michael Parkin

Right.

what that And that something expect the better terms a then the circuit on took give course Or fairly stacking should basis? you'd down you us state? be a in be access year? Okay. you steady that old to over guys sense Is the blended will grade Can of crushing improve grades. of

Mitchell J. Krebs

area the we're the we does the pit ex particularly Yankee. Yankee that that material, that here into The have area advertised. and was there that getting could that removed this we getting side. Well, year, standpoint, XXXX one so grade under which in we the those And as prepping big are, that in of on now old from there call incentives silver that could so and some Yankee a zone for grades pit, higher we to did ex-pit when be start seem in mining that we be

the And or this a being will on as of to that you a area. the years silver result grade on gold -- Silverpit, Yankee silver in bit see year, profile little relative so outer

miss I did Mick, anything there?

Michael Routledge

The at No. low grade is [indiscernible] right. gold inherently Rochester,

isn't much changing for too we're forward Yankee So looking seeing kick we're to from decent solar, the in seeing that, coming pipe. least short at which but getting that area term the the a we're through

Michael Parkin

steady your steeper gold heat. achieve or, state a than on then -- call And kind percentile. is XXth rate you on curves, in expect XXth like what's to silver recovery When obviously it, the be might percent the leach would of usually,

to assume after You're to quarter maximum it it quarters get throughput around to couple end. Would more a be going takes that. fair up

point? probably of at see starting XXXX, silver that So recovery stabilizing in kind you'd

Mitchell J. Krebs

you to talk about. kind are question. year-end, want quarter, state? when with and then And the we in Yes. little quarter, to a this we'll obviously, in have share have lot some about reaching Great about more of our talk we'll the do third But third bit data visibility about. on conjunction Mick, and a to curves to with steady Probably -- talk call talk

Michael Routledge

both the half steady steady be this will through in And on curve. to Yes. gold expect where really And XXXX. year. the we the second of Silverpit out silver and it you going and I think we hear exactly gold see We're land to

Operator

Markets. will come question Capital next O'Halloran Kevin BMO Our with from

Kevin O'Halloran

Maybe just the at first one the on LCM Rochester. adjustment

included revaluation Or leach is LCM that positive was on future there in that mentioned we looking in adjustment? pads, quarters? of something was be some should legacy QX for a this You the

Mitchell J. Krebs

Tom, that? want to do you take

Thomas Whelan

Yes.

of and ounces we XXX,XXX -- added So approximately of X,XXX ounces gold. silver

So change we've that And our first as we actually recorded updated quarter. a in the estimate. model in

been So that we confident silver actually the higher gold enough the higher the felt curves of that historic 'XX. gathered that and we're would here not the team again, that the have adjustment. expecting we made on data recovery amount much supported and But LCM had see in to pads had

So that sense. hope I made

Kevin O'Halloran

helpful Or that that's you without a would sure. No, maybe have looking offset? where just the more Yes. for Do the be even for positive have LCM? of going been sense number broadly, on what should we forward

Thomas Whelan

million it in Look, added have $XX would benefit. the $XX Yes. to million range

certainly, So we safely LCM. just done LCMs. bit would had a a and make the really in to always through. the to silver have on some it fast the larger we're I . But see is prices, I'd come for go otherwise absolutely, that hedge out one Mick this quarter, little to things to get forward, of like we we maybe smoothly. silver second Could get depends up LCM question QX sure bandwidth have of how so ramp The give start business. prices, is,

Kevin O'Halloran

sort under already seeing at of broadly maybe profile, or guys you upside where at you you're the terms Rochester grade on looking maybe higher maybe And year? the Great. grades Okay. But beyond Rochester. this comment more where ex-pit crusher on of can you're in touched for the

Mitchell J. Krebs

which Rochester, construction big Yes. relative periods we've great been of on XXXX, the focused in question. the more to our budget for -- is is increase out million a $X expansion. when No, somewhere recent We there around

last Rochester, have the You And and deposit has pit first I started and and structure that taken blinders that go to kind when regionally. the off ultimately, been of the focus sort on were back only identify at was that to blinders more think, on, the and years all put of project. look mid-XXs Rochester in few was we've

might position we Gold we few the west to recall, acquired land of years lot Alio from the almost there added out a a land off doubled our ago. You when

helped and here accelerate could our ago has Aoife couple thinking where around the package. our into of So material came some existing really years a land be picture higher-grade on

as side there one from a is some it on start there's of potential untapped right down over And pit, X, called the area potential eastern of the Packard, anything steal historic we area pit X, think of X going we then between in lot we'll most there's the I Rochester. south to did existing well the your Or some grade. those all Packard, to the going there's miles focus now that And pit I'll second, mining turn Rochester for to forward. to her some X is called the really but about higher to be is to a Nevada of opportunity, then thunder? And where Aoife, But a investigate Rochester down highlight? there want drilling else there Nevada you East

Aoife McGrath

have whole those potential X higher level to of look wide that [indiscernible] we're those between on the it's mean seeing really we life a ahead base make them that deposits. host That's it, with that for beginning phenomenal because a we seriously the at suggest grade doing area that models, work we're more mine deformation the X it of -- reiterate that we're there's the pets geology just to structures between of and on

most it's will It's next what there. So the of on already in looking we be few XX permitted. POA is right is at years

[indiscernible] mine it have door already. access. step. It's the we that runway of our ahead in, We -- so lot understanding It's right really day, increasing of potential there's given be every we're on great a have with to position good. the a We're good of

Michael Routledge

that a drill drills given of to plans mine the our part, currently old million of little and And to in we'll old, my is that, next to actually. excitement. the we wedge present much bit in Yes. we're It's to because investigate tons crude couple impressive adjacent the number which the horizontal each one, that, but in that, area there waste will that into we some than put And them part, mine the grade pit. really that right have it, can't leach have but one years, and We investigate be is additional through is currently how current call material underneath plan. still see our historic old may we can waste plan. We it the that me that's look XX of of optimistic convert, but higher a it's

Operator

next Roth Joseph MKM. from Reagor our will And come with question

Joseph Reagor

So flow that from What to been QX, most the revenue million lower seemed high. $XX.X did I In into we a be question. deferred that questions quarters driving that? to expect of which go ahead? And my components answered, have in impact cash are should a recognition, was the quarter but the What compared bit prior there have that? for was

Mitchell J. Krebs

you want . do to cover that? Tom,

Thomas Whelan

Sure.

So a reference prepaid in activity. some gold the you'll financial statements, to see

we've in the short-term placing working got working added both last the we prepaid awaiting a we've to Again, expansion we morph. went of which historically to is and us help capital. Rochester pad. that the So at ounces and as year, the And just capital prepaid all the through on Mick last Kensington, are smooth used wonderful these manage effort

on at it those and all prepaids -- we down again. extended prepaids those December. outstanding $XX renewed There the end back of was we So those million then paid again. drew We

bond bonus help us the tax it's semiannual incentive So as a the nice first on the lumpy payments. as the The just In particular, capital. to annual paid coupon. payment EBITDA has manage quarter -- way well X working we Mexican

working -- to just way was capital. helpful it so a it's And manage

delever in delevering the starting in plan based all The prepaid. begin to and and third free starts the to mentioned be we'll once between cash to on what's going the arrive. interest the -- quarter, be highest would the I flow As revolver rate --

to second half. in expect those So decrease balances see the

Joseph Reagor

guidance question, then on like that. Is what you quarters just ahead already is like? in and the this kind Rochester you the other guys company seems little at of look wide. or a first to overall QX. the that appreciate up It one like color performance year range on And the once tighten X are kind I see plan of plan X on later the of

Mitchell J. Krebs

us. Rochester, a end big Joe, a that quarter the the past run we That's for with fair Yes. point, rate of at get that milestone that's as second

that, full would year of backside Rochester's good thing the probably do. be to refreshing guidance On a

third can that probably about you we -- for as results. think look quarter So

Operator

will come with next James. Brian MacArthur Our question Raymond here from

Brian MacArthur

most the free review is have if NOLs, you and bottom generate how pool, that States? pools there you Is can as how I of your up guess, and line? should to and the just in U.S. United remember, that the going eventually Wharf on the your just where U.S. in that to you were works cash if ramp tax available? because review tax Can we Kensing Because much cash Because you are there significant impact, flow Rochester in I start

Mitchell J. Krebs

the... that Yes. Great Brian asset It's Tom, an give point. of. want you and do will we have often to underappreciated that to start advantage take we

Thomas Whelan

Yes, over by XX-K the of is in memory, million $XXX NOLs.

future. be tax federal so going to any income in paying not And the we're near

there's at at So tax but federal absolutely, a amount well, Kensington you as should be pay as tax do material. Nevada, maybe income small these prices, nothing X taxes We there's Wharf. higher foreseeable for in And particularly forecasting the a future. well as state there

Brian MacArthur

And question. was second Right. that my

to right all So bit or do do you away? credit a spent just start get that capital you've just paying you so that the deferred you pay little or Nevada, in gets too it

Thomas Whelan

we No, paying away. proceeds a we net there's that will -- start tax right Nevada

Operator

I over closing our like this conference for to And to would the any Krebs Mitch will back remarks. conclude now question-and-answer session. turn

Mitchell J. Krebs

great the we Thanks a All rest in to of right. our second time today Well, appreciate you August day. with to and look forward again. quarter Have all hey, everybody's discuss speaking results.

Operator

The for Thank conference concluded. attending today's has you now presentation.

disconnect may lines. your You now

Coeur Mining (CDE) 2 May 242024 Q1 Earnings call transcript