The following is a summary of the Coeur Mining, Inc. (CDE) Q1 2024 Earnings Call Transcript:
Financial Performance:
Coeur Mining reported a 14% year-over-year increase in revenue and a 76% rise in adjusted EBITDA for Q1 2024.
Capital expenditures dropped significantly due to the completion of Rochester mine expansion.
The company anticipates generating positive free cash flow in the second half of the year, with a focus on repaying debt.
Under current silver and gold price conditions, the company's financial conditions and outlook are expected to improve rapidly and significantly.
Business Progress:
Coeur Mining has initiated commercial production at its new crusher at the Rochester mine.
The company plans to reach its planned production volume of approximately 88,000 tons per day in the second half of the year and aims to improve productivity and cost structures in 2025.
Investments in the Kensington mine are 71% complete, paving the way for a significant mine life extension.
Exploration at Kensington, Rochester, Palmarejo, Silvertip is fruitful, and lands east of the Palmarejo mine have been acquired.
They also published their 2023 ESG report, highlighting the company's efforts in sustainability, responsibility, and safety.
Coeur Mining has begun mining in the Yankee area, projected to boost its silver profile in 2024.
They are ramping up operations and targeting a steady-state recovery rate by Q3 2024.
The company's ambitious expansion at Rochester seems to be yielding results with the project ahead of plan for Q1.
More details: Coeur Mining IR
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