Coeur Mining Bolsters Precious Metals Reserves in Latest Report

Coeur Mining US1921085049

Coeur Mining has released its year-end 2025 reserve statement, revealing substantial growth in its proven and probable holdings of gold and silver. The expansion is primarily attributed to several of its cornerstone operations, with the Wharf mine leading the charge. Beyond the headline figures, the key question for investors is the sustainability of this growth, particularly at the standout Wharf location.

According to the report, the company's proven and probable gold reserves now stand at 4.4 million ounces, while silver reserves have reached 274.4 million ounces. This increase was driven by strong performances at key sites, with notable year-over-year reserve growth in gold:
* Wharf: A 65% increase
* Palmarejo: A 36% increase
* Kensington: A 9% increase

A critical outcome of this reserve upgrade is the extension of the Wharf mine's operational life in South Dakota. The mine's projected lifespan is now approximately 12 years, representing a near doubling of its previous estimate.

Financial Outlook for the Wharf Operation

An updated technical report for the Wharf mine provides a long-term financial forecast. Over the mine's entire life, Coeur anticipates generating a total EBITDA of $1.7 billion. Furthermore, the operation is expected to produce a cumulative free cash flow of $1.1 billion.

Resource Estimates and Revised Price Assumptions

The company also provided updates on its broader resource base, which presents a mixed picture. Measured and indicated resources saw declines of 18% for gold and 14% for silver, though these were partially offset by gains at the Rochester and Wharf properties.

In contrast, inferred resources moved higher, climbing to 3.8 million ounces of gold and 141.8 million ounces of silver. This jump was largely due to a massive 216% surge in inferred gold resources at Wharf and a 97% rise at Palmarejo.

Notably, the 2025 reserve calculations were based on higher long-term metal price assumptions compared to the prior year. Coeur Mining used a gold price of $2,200 per ounce and a silver price of $26.00 per ounce for its estimates.

Commenting on the results, CEO Mitchell J. Krebs highlighted the company's strategic focus. He stated that high-return organic growth, supported by consistent and substantial investment in exploration, remains a central pillar of Coeur's strategy and capital allocation framework.