COEUR MINING, INC., 10-K filed on 2/21/2024
Annual Report
v3.24.0.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2023
Feb. 19, 2024
Jun. 30, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Document Transition Report false    
Entity File Number 1-8641    
Entity Registrant Name COEUR MINING, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 82-0109423    
Entity Address, Address Line One 200 South Wacker Drive    
Entity Address, Address Line Two Suite 2100    
Entity Address, City or Town Chicago    
Entity Address, State or Province IL    
Entity Address, Postal Zip Code 60606    
City Area Code 312    
Local Phone Number 489-5800    
Title of 12(b) Security Common Stock (par value $.01 per share)    
Trading Symbol CDE    
Security Exchange Name NYSE    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   386,264,324  
Entity Central Index Key 0000215466    
Amendment Flag false    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Entity Public Float     $ 979,838,331
Entity Well-known Seasoned Issuer Yes    
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Audit Information
12 Months Ended
Dec. 31, 2023
Audit Information [Abstract]  
Auditor Name Grant Thornton LLP
Auditor Location Chicago, Illinois
Auditor Firm ID 248
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Cover
12 Months Ended
Dec. 31, 2023
Cover [Abstract]  
Documents Incorporated by Reference
Certain information called for by Part III of the Form 10-K is incorporated by reference from the registrant’s definitive proxy statement for the 2024 Annual Meeting of Stockholders which will be filed pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this report.
v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 61,633 $ 61,464
Receivables 31,035 36,333
Inventory 76,661 61,831
Ore on leach pads 79,400 82,958
Marketable Securities, Current 0 32,032
Prepaid expenses and other 18,526 25,814
Current assets 267,255 300,432
NON-CURRENT ASSETS    
Property, plant and equipment and mining properties, net 1,688,288 1,389,755
Ore on leach pads, noncurrent 25,987 51,268
Restricted assets 9,115 9,028
Current liabilities 0 12,120
Receivables, Net, Current 23,140 22,023
Other assets 67,063 61,517
TOTAL ASSETS 2,080,848 1,846,143
CURRENT LIABILITIES    
Accounts payable 115,110 96,123
Accrued liabilities and other 140,913 92,863
Debt 22,636 24,578
Reclamation 10,954 5,796
Current liabilities 289,613 219,360
NON-CURRENT LIABILITIES    
Debt 522,674 491,355
Reclamation 203,059 196,635
Deferred tax liabilities 12,360 14,459
Other long-term liabilities 29,239 35,318
Non-current liabilities $ 767,332 $ 737,767
Common Stock, Shares, Outstanding 386,282,957 295,697,624
STOCKHOLDERS' EQUITY    
Common stock, par value $0.01 per share; authorized 600,000,000 shares, 386,282,957 issued and outstanding at December 31, 2023 and 295,697,624 at December 31, 2022 $ 3,863 $ 2,957
Additional paid-in capital 4,139,870 3,891,265
Accumulated other comprehensive income (loss) 1,331 12,343
Accumulated deficit (3,121,161) (3,017,549)
Stockholders' equity 1,023,903 889,016
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,080,848 $ 1,846,143
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000 600,000,000
Common stock, shares issued (in shares) 386,282,957 295,697,624
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Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2023
Sep. 13, 2023
Jul. 20, 2023
Jun. 21, 2023
Dec. 31, 2022
STOCKHOLDERS' EQUITY          
Common stock, par value $ 0.01 $ 0.01   $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000       600,000,000
Common stock, shares issued (in shares) 386,282,957   3,000,000 5,276,154 295,697,624
v3.24.0.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue $ 821,206 $ 785,636 $ 832,828
COSTS AND EXPENSES      
Amortization 99,822 111,626 128,315
General and administrative 41,605 39,460 40,399
Pre-development, reclamation, and other 54,636 40,647 44,567
Total costs and expenses 859,921 824,887 775,989
OTHER INCOME (EXPENSE), NET      
Fair value adjustments, net, pretax 3,384 (66,668) (543)
Interest expense, net of capitalized interest (29,099) (23,861) (16,451)
Other, net [1] (7,463) 66,331 (27,036)
Total other income (expense), net (29,741) (24,198) (53,203)
Income (loss) before income and mining taxes (68,456) (63,449) 3,636
Income and mining tax (expense) benefit (35,156) (14,658) (34,958)
NET INCOME (LOSS) (103,612) (78,107) (31,322)
OTHER COMPREHENSIVE INCOME (LOSS), Net of Tax:      
Unrealized gain (loss) on hedger, net of tax (318) 37,445 22,783
Reclassification adjustments for realized (gain) loss on cash flow hedges 10,694 23,890 12,859
Other comprehensive income (loss) (11,012) 13,555 9,924
COMPREHENSIVE INCOME (LOSS) $ (114,624) $ (64,552) $ (21,398)
Basic EPS      
Earnings Per Share, Basic $ (0.30) $ (0.28) $ (0.13)
Diluted EPS      
Earnings Per Share, Diluted $ (0.30) $ (0.28) $ (0.13)
Gain on debt extinguishment $ 3,437 $ 0 $ (9,173)
Product      
COSTS AND EXPENSES      
Costs applicable to sales [2] 632,896 606,530 511,539
Mineral, Exploration      
COSTS AND EXPENSES      
Costs applicable to sales $ 30,962 $ 26,624 $ 51,169
[1] See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
[2] Excludes amortization.
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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (103,612) $ (78,107) $ (31,322)
Adjustments:      
Amortization 99,822 111,626 128,315
Accretion 16,381 14,850 12,897
Deferred income taxes (1,495) (18,450) (10,932)
Gain on debt extinguishment (3,437) 0 9,173
Fair value adjustments, net (3,384) 63,529 543
Stock-based compensation 11,361 10,030 13,660
Gain on the sale of Sterling/Crown 0 (62,249) 0
Loss on the sale of assets 25,197 0 0
Inventory Write-down 40,247 45,978 38,596
Revenue Recognized (25,468) (15,887) (16,226)
Foreign exchange and other 3,215 542 911
Changes in operating assets and liabilities:      
Receivables 933 4,452 (983)
Prepaid expenses and other current assets (461) 240 489
Inventories (47,592) (51,448) (27,628)
Accounts payable and accrued liabilities 55,581 510 (7,011)
Cash provided by (used in) operating activities 67,288 25,616 110,482
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (364,617) (352,354) (309,781)
Proceeds from the sale of assets 8,546 165,829 6,824
Payments to Acquire Investments 0 0 (1,955)
Sale of investments 47,611 40,469 935
Proceeds from Collection of Notes Receivable 5,000 0 0
Other (239) (107) (99)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (303,699) (146,163) (304,076)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Issuance of Common Stock 168,964 147,408 0
Issuance of notes and bank borrowings, net of issuance costs 598,000 320,000 592,493
Payments on long-term debt, capital leases, and associated costs (528,541) (338,721) (430,101)
Other (2,370) (3,661) (4,256)
CASH PROVIDED (USED IN) BY FINANCING ACTIVITIES 236,053 125,026 158,136
Effect of exchange rate changes on cash and cash equivalents 567 401 (423)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 209 4,880 (35,881)
Cash, cash equivalents and restricted cash at beginning of period 63,169 58,289 94,170
Cash, cash equivalents and restricted cash at end of period $ 63,378 $ 63,169 $ 58,289
v3.24.0.1
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
JDS Silver Holdings Ltd.
At The Market Offering
Private Placement
Common Stock
Common Stock
JDS Silver Holdings Ltd.
Common Stock
At The Market Offering
Common Stock
Private Placement
Additional Paid-In Capital
Additional Paid-In Capital
JDS Silver Holdings Ltd.
Additional Paid-In Capital
At The Market Offering
Additional Paid-In Capital
Private Placement
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Balances, in shares at Dec. 31, 2020         243,752                  
Balances at Dec. 31, 2020 $ 693,479       $ 2,438       $ 3,610,297       $ (2,908,120) $ (11,136)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (31,322)                       (31,322)  
Other comprehensive income (loss) 9,924                         9,924
Common stock issued (in shares)           12,786                
Common stock issued   $ 118,777       $ 128       $ 118,649        
Common stock issued under stock-based compensation plans, net (in shares)         381                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 9,404       $ 3       9,401          
Balances, in shares at Dec. 31, 2021         256,919                  
Balances at Dec. 31, 2021 800,262       $ 2,569       3,738,347       (2,939,442) (1,212)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (78,107)                       (78,107)  
Other comprehensive income (loss) 13,555                         13,555
Common stock issued (in shares)             36,820              
Common stock issued     $ 146,915       $ 368       $ 146,547      
Common stock issued under stock-based compensation plans, net (in shares)         1,959                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 6,391       $ 20       6,371          
Balances, in shares at Dec. 31, 2022         295,698                  
Balances at Dec. 31, 2022 889,016       $ 2,957       3,891,265       (3,017,549) 12,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (103,612)                       (103,612)  
Other comprehensive income (loss) (11,012)                         (11,012)
Common stock issued (in shares)             54,562 8,276            
Common stock issued     $ 147,566 $ 21,018     $ 546 $ 83     $ 147,020 $ 20,935    
Common stock issued for the extinguishment of Senior Notes (in shares)         25,191                  
Common stock issued for the extinguishment of Senior Notes 72,252       $ 253       71,999          
Common stock issued under stock-based compensation plans, net (in shares)         2,556                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 8,675       $ 24       8,651          
Balances, in shares at Dec. 31, 2023         386,283                  
Balances at Dec. 31, 2023 $ 1,023,903       $ 3,863       $ 4,139,870       $ (3,121,161) $ 1,331
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Basis of Presentation
12 Months Ended
Dec. 31, 2023
Basis of Presentation [Abstract]  
Basis of Accounting THE COMPANY
Coeur Mining, Inc. (“Coeur” or the “Company”) is primarily a gold and silver producer with assets in the United States, Mexico and Canada. Coeur was incorporated as an Idaho corporation in 1928 under the name Coeur d’Alene Mines Corporation and on May 16, 2013, changed its state of incorporation from the State of Idaho to the State of Delaware and changed its name to Coeur Mining, Inc. Coeur’s corporate headquarters are in Chicago, Illinois.
v3.24.0.1
Summary Of Significant Accounting Policies
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment and mining properties, net, inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events such as future pandemics could result in material impairment charges related to these assets.
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the current year presentation.
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables
Trade receivables and other receivable balances are recognized net of an allowance for credit losses. The allowance represents the portion of the amortized cost basis that the Company does not expect to collect due to credit over the contractual life of the receivables, taking into considered past events, current conditions and reasonable and supportable forecasts of future economic conditions. As of December 31, 2023, the amount of credit loss recognized is not significant.
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue and are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold electrolytic cathodic sludge at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. As of December 31, 2023, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 25,659 and 3.9 million, respectively.
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant, and Equipment and Mining Properties, Net
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the
estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $10.0 million and $21.6 million in the years ended December 31, 2023 and 2022, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these
obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2023 and 2022, the Company held certificates of deposit and cash under these agreements of $9.1 million and $9.0 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and Other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 8 -- Leases for additional information related to the Company’s operating and finance leases.
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 10 -- Reclamation for additional information.
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative
instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 14 -- Derivative Financial Instruments and Hedging Activities for additional information.
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model using market comparison. Stock options granted are accounted for as equity-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock-based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company's stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company's performance, and related tax impacts. See Note 12 -- Stock-Based Compensation for additional information.
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months after the shipment date, based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
Recently Adopted Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company adopted the new derivatives and hedging standards effective January 1, 2023 and does not expect the new derivatives and hedging standard to have a material effect on our financial position, results of operations or cash flows.
Recently Issued Accounting Standards
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our Consolidated Financial Statements and related disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our Consolidated Financial Statements and related disclosures.
v3.24.0.1
Segment Reporting
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration property. Except for the Silvertip exploration property, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration property, which suspended mining and processing activities in February 2020, is engaged in the discovery of silver, zinc and lead. Other includes the Sterling/Crown exploration properties (which were sold in the fourth quarter of 2022), other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. In 2022, the Company disposed of the Sterling/Crown exploration properties and La Preciosa project, see Note 20 -- Dispositions for additional information.
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2023PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$155,036 $75,571 $162,010 $183,060 $— $— $575,677 
Silver sales158,171 80,451 468 6,439 — — 245,529 
Metal sales313,207 156,022 162,478 189,499 — — 821,206 
Costs and Expenses
Costs applicable to sales(1)
194,309 171,271 152,659 114,657 — — 632,896 
Amortization35,709 26,392 25,905 6,694 4,018 1,104 99,822 
Exploration7,840 1,221 7,900 — 12,251 1,750 30,962 
Other operating expenses8,064 26,005 3,440 4,157 17,104 37,471 96,241 
Other income (expense)
Gain on debt extinguishment— — — — — 3,437 3,437 
Fair value adjustments, net— — — — — 3,384 3,384 
Interest expense, net844 (1,603)(1,744)(329)(63)(26,204)(29,099)
Other, net(3)
4,590 (293)(311)(396)(129)(10,924)(7,463)
Income and mining tax (expense) benefit(26,016)(816)— (7,047)— (1,277)(35,156)
Net Income (loss) $46,703 $(71,579)$(29,481)$56,219 $(33,565)$(71,909)$(103,612)
Segment assets(2)
$312,879 $1,081,442 $171,602 $102,245 $215,545 $59,324 $1,943,037 
Capital expenditures$41,766 $263,401 $53,316 $2,472 $2,867 $795 $364,617 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail

Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses4,372 7,540 1,685 1,379 22,322 42,809 80,107 
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (306)(206)(62)(354)64,055 66,331 
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(2)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
Year Ended December 31, 2021PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$150,098 $49,659 $214,635 $164,519 $— $— $578,911 
Silver sales170,176 81,163 370 2,208 — — 253,917 
Metal sales320,274 130,822 215,005 166,727 — — 832,828 
Costs and Expenses
Costs applicable to sales(1)
153,655 131,240 133,065 93,579 — — 511,539 
Amortization36,062 20,187 54,933 11,038 4,797 1,298 128,315 
Exploration8,561 6,016 6,656 143 15,287 14,506 51,169 
Other operating expenses4,442 5,915 6,285 1,770 26,090 40,464 84,966 
Other income (expense)
Loss on debt extinguishment— — — — — (9,173)(9,173)
Fair value adjustments, net— — — — — (543)(543)
Interest expense, net(592)(1,034)(704)(145)1,276 (15,252)(16,451)
Other, net(3)
(28,198)(328)(164)1,634 (406)426 (27,036)
Income and mining tax (expense) benefit(29,730)559 (414)(4,799)1,478 (2,052)(34,958)
Net Income (loss) $59,034 $(33,339)$12,784 $56,887 $(43,826)$(82,862)$(31,322)
Segment assets(2)
$294,893 $559,283 $142,926 $87,579 $230,617 $109,636 $1,424,934 
Capital expenditures$36,539 $166,548 $27,522 $8,072 $70,069 $1,031 $309,781 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail




Assets December 31, 2023December 31, 2022
Total assets for reportable segments$1,943,037 $1,669,982 
Cash and cash equivalents61,633 61,464 
Other assets76,178 114,697 
Total consolidated assets$2,080,848 $1,846,143 
Geographic Information
Long-Lived Assets December 31, 2023December 31, 2022
United States$1,201,988 $899,960 
Mexico256,906 251,950 
Canada229,242 237,723 
Other152 122 
Total$1,688,288 $1,389,755 
RevenueYear ended December 31,
202320222021
United States$507,999 $482,202 $512,554 
Mexico313,207 303,434 320,274 
Total$821,206 $785,636 $832,828 
The Company's doré, as well as the electrolytic cathodic sludge produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the London Bullion Market Association, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its gold and silver bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company had seven trading counterparties at December 31, 2023. The Company's sales of doré or electrolytic cathodic sludge product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 80%, 74%, and 74%, of total metal sales for the years ended December 31, 2023, 2022, and 2021, respectively.
The Company's gold concentrate product from the Kensington mine is sold under a long term offtake agreement and is shipped to geographically diverse third-party smelters who are responsible for arranging the smelting of the concentrate. The Company’s sales of concentrate produced by the Kensington amounted to approximately 20%, 26%, and 26% of total metal sales for the years ended December 31, 2023, 2022, and 2021, respectively.
The Company believes that the loss of any one smelter, refiner, trader or third-party customer would not have a material adverse effect on the Company due to the liquidity of the markets and current availability of alternative trading counterparties.
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years ended December 31, 2023, 2022, and 2021 (in millions):
Year ended December 31,
Customer202320222021Segments reporting revenue
Bank of Montreal$367.2 $341.5 $98.7 Palmarejo, Rochester, Wharf
Ocean Partners$346.2 $168.9 $176.4 Palmarejo, Kensington
Asahi$63.7 $125.3 $323.8 Palmarejo, Rochester, Kensington, Wharf
v3.24.0.1
Receivables
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
RECEIVABLES RECEIVABLES
    Receivables consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Current receivables:
Trade receivables$3,858 $6,302 
VAT receivable15,634 10,741 
Income tax receivable10,207 9,719 
Avino note receivable (1)
— 4,926 
Gold and silver forwards realized gains (2)
615 4,059 
Other721 586 
$31,035 $36,333 
Non-current receivables:
Other tax receivable (3)
$9,111 $— 
Deferred cash consideration (1)
834 7,677 
Contingent consideration (1)
13,195 14,346 
$23,140 $22,023 
Total receivables$54,175 $58,356 
(1) See Note 13 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
(2) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settle in subsequent months. See Note 14 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
(3) Consists of exploration credit refunds at Silvertip.
v3.24.0.1
Inventory and Ore on Leach Pads
12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
INVENTORY AND ORE ON LEACH PADS INVENTORY AND ORE ON LEACH PADS
    Inventory consists of the following:
In thousandsDecember 31, 2023December 31, 2022
Inventory:
Concentrate$3,606 $2,869 
Precious metals20,395 12,636 
Supplies52,660 46,326 
$76,661 $61,831 
Ore on Leach Pads:
Current$79,400 $82,958 
Non-current25,987 51,268 
$105,387 $134,226 
Long-term Stockpile (included in Other)
$46,702 $28,840 
Total Inventory and Ore on Leach Pads$228,750 $224,897 
    
Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2023, the cost of stock pile, leach pad and metal inventory at Rochester exceeded its net realizable value, which resulted in non-cash write down of $45.6 million ($39.9 million was recognized in Costs applicable to sales and $5.8 million in Amortization)
v3.24.0.1
Investments
12 Months Ended
Dec. 31, 2023
Investment in Marketable Securities [Abstract]  
Investment Holdings INVESTMENTS
Equity Securities
    From time to time, the Company makes strategic investments in equity securities of silver and gold exploration, development and royalty and streaming companies or receives securities as transaction consideration. The Company had no outstanding investments in equity securities as of December 31, 2023.
At December 31, 2023At December 31, 2022
In thousandsCostEstimated
Fair Value
CostGross
Unrealized
Losses
Gross
Unrealized
Gains
Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$— $— $70,560 $(38,528)$— $32,032 
Integra Resources Corp.— — 9,455 (7,115)— 2,340 
Avino Silver & Gold Mines Ltd— — 13,720 (4,199)— 9,521 
Other— — 2,233 (1,974)— 259 
Equity securities$— $— $95,968 $(51,816)$— $44,152 
Changes in the fair value of the Company’s investment in equity securities are recognized each period in the Consolidated Statement of Comprehensive Income (Loss) in Fair value adjustments, net. See Note 13 -- Fair Value Measurements for additional details.
In January 2023, the Company sold 6.0 million shares of common stock of Victoria Gold (“Victoria Gold Common Shares”) at a price of $6.70 per share, for net proceeds of $39.8 million.
In May 2023, the Company sold 3.7 million shares of common stock of Integra Resources Corporation (“Integra Common Shares”) at a price of $0.48 per share, for net proceeds of $1.8 million.
In October and November 2023, the Company sold 14.0 million shares of common stock of Avino Silver & Gold Mines (“Avino Common Shares”) at a price of $0.43 per share, for net proceeds of $6.1 million.
v3.24.0.1
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT AND MINING PROPERTIES, NET
Property, plant and equipment and mining properties, net consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Mine development$1,358,189 $1,533,385 
Mineral interests809,912 821,112 
Land8,318 8,242 
Facilities and equipment(1)
947,435 800,957 
Construction in progress(2)
612,865 236,019 
Total$3,736,719 $3,399,715 
Accumulated depreciation, depletion and amortization(3)
(2,048,431)(2,009,960)
Property, plant and equipment and mining properties, net$1,688,288 $1,389,755 
(1) Includes $127.6 million and $148.2 million associated with facilities and equipment assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
(2) Includes $471.7 million and $139.7 million of construction costs related to the Rochester Expansion project at December 31, 2023 and December 31, 2022, respectively.
(3) Includes $37.6 million and $80.3 million of accumulated amortization related to assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
v3.24.0.1
Leases
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202320222021
Lease Cost
Operating lease cost$12,536 $11,939 $12,585 
Short-term operating lease cost$12,223 $10,573 $11,219 
Finance Lease Cost:
Amortization of leased assets$27,985 $21,571 $21,685 
Interest on lease liabilities3,762 5,084 4,632 
Total finance lease cost$31,747 $26,655 $26,317 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202320222021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24,759 $22,511 $24,009 
Operating cash flows from finance leases$3,762 $5,084 $4,632 
Financing cash flows from finance leases$24,505 $31,316 $31,544 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2023December 31, 2022
Operating Leases
Other assets, non-current$14,064 $24,603 
Accrued liabilities and other9,975 11,560 
Other long-term liabilities6,340 14,946 
Total operating lease liabilities$16,315 $26,506 
Finance Leases
Property and equipment, gross$127,591 $148,174 
Accumulated depreciation(37,612)(80,336)
Property and equipment, net$89,979 $67,838 
Debt, current$22,636 $24,578 
Debt, non-current52,558 42,143 
Total finance lease liabilities$75,194 $66,721 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.031.76
Weighted-average remaining lease term - operating leases5.194.44
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.1 %5.2 %
Weighted-average discount rate - operating leases5.3 %5.2 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2023 (In thousands)
Operating leases Finance leases
2024$10,075 $26,391 
2025817 24,465 
2026756 15,381 
2027890 8,474 
2028941 10,288 
Thereafter5,576 — 
Total$19,055 $84,999 
Less: imputed interest(2,740)(9,805)
Net lease obligation$16,315 $75,194 
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202320222021
Lease Cost
Operating lease cost$12,536 $11,939 $12,585 
Short-term operating lease cost$12,223 $10,573 $11,219 
Finance Lease Cost:
Amortization of leased assets$27,985 $21,571 $21,685 
Interest on lease liabilities3,762 5,084 4,632 
Total finance lease cost$31,747 $26,655 $26,317 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202320222021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24,759 $22,511 $24,009 
Operating cash flows from finance leases$3,762 $5,084 $4,632 
Financing cash flows from finance leases$24,505 $31,316 $31,544 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2023December 31, 2022
Operating Leases
Other assets, non-current$14,064 $24,603 
Accrued liabilities and other9,975 11,560 
Other long-term liabilities6,340 14,946 
Total operating lease liabilities$16,315 $26,506 
Finance Leases
Property and equipment, gross$127,591 $148,174 
Accumulated depreciation(37,612)(80,336)
Property and equipment, net$89,979 $67,838 
Debt, current$22,636 $24,578 
Debt, non-current52,558 42,143 
Total finance lease liabilities$75,194 $66,721 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.031.76
Weighted-average remaining lease term - operating leases5.194.44
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.1 %5.2 %
Weighted-average discount rate - operating leases5.3 %5.2 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2023 (In thousands)
Operating leases Finance leases
2024$10,075 $26,391 
2025817 24,465 
2026756 15,381 
2027890 8,474 
2028941 10,288 
Thereafter5,576 — 
Total$19,055 $84,999 
Less: imputed interest(2,740)(9,805)
Net lease obligation$16,315 $75,194 
v3.24.0.1
Debt
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
 December 31, 2023December 31, 2022
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $295,115 $— $369,212 
Revolving Credit Facility(2)
— 175,000 — 80,000 
Finance lease obligations22,636 52,559 24,578 42,143 
$22,636 $522,674 $24,578 $491,355 
(1) Net of unamortized debt issuance costs of $3.9 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively.
(2) Unamortized debt issuance costs of $2.8 million and $3.6 million at December 31, 2023 and December 31, 2022, respectively, included in Other Non-Current Assets.
2029 Senior Notes
In March 2021, the Company completed an offering of $375.0 million in aggregate principal amount of senior notes in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for net proceeds of approximately $367.5 million (the “2029 Senior Notes”). The 2029 Senior Notes are governed by an Indenture dated as of March 1, 2021 (the “Indenture”), among the Company, as issuer, certain of the Company's subsidiaries named therein, as guarantors thereto (the “Guarantors”), and The Bank of New York Mellon, as trustee (the “Trustee”). The 2029 Senior Notes bear interest at a rate of 5.125% per year from the date of issuance. Interest on the 2029 Senior Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021. The 2029 Senior Notes will mature on February 15, 2029 and are fully and unconditionally guaranteed by the Guarantors.
As of February 15, 2024, the Company may redeem some or all of the 2029 Senior Notes at redemption prices set forth in the Indenture, together with accrued and unpaid interest.
The Indenture contains covenants that, among other things, limit the Company’s ability under certain circumstances to incur additional indebtedness, pay dividends or make other distributions or repurchase or redeem capital stock, prepay, redeem or repurchase certain debt, make loans and investments, create liens, sell, transfer or otherwise dispose of assets, enter into transactions with affiliates, enter into agreements restricting the Company's subsidiaries' ability to pay dividends and impose conditions on the Company’s ability to engage in mergers, consolidations and sales of all or substantially all of its assets. The Indenture also contains certain “Events of Default” (as defined in the Indenture) customary for indentures of this type. If an Event of Default has occurred and is continuing, the Trustee or the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding may, and the Trustee at the request of the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding shall, declare all unpaid principal of, premium, if any, and accrued interest on all the 2029 Senior Notes to be due and payable.
During the year ended December 31, 2023, the Company exchanged $76.0 million in aggregate principal amount of 2029 Senior Notes plus accrued interest for 25.2 million shares of its common stock. Based on the closing price of the Company’s common stock on the dates of the exchanges, the exchanges resulted in an aggregate gain of $3.4 million on debt extinguishment. The exchange transactions represent non-cash financing activity in the Consolidated Statement of Cash Flow.
Revolving Credit Facility
In September 2017, the Company, as borrower, and certain subsidiaries of the Company, as guarantors, entered into a $200.0 million senior secured revolving credit facility (“RCF”) pursuant to a credit agreement, dated as of September 29, 2017 (as subsequently amended, the “Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent and Bank of America, N.A., Royal Bank of Canada, Bank of Montreal, Chicago Branch, the Bank of Nova Scotia and ING Capital LLC, as lenders (the “Credit Agreement”) with an original term of four years. Loans under the RCF bear interest at a rate equal to either a base rate plus a margin ranging from 1.00% to 1.75% or an adjusted LIBOR rate plus a margin ranging from 2.00% to 2.75%, as selected by the Company, in each case, with such margin determined in accordance with a pricing grid based upon the Company’s consolidated net leverage ratio as of the end of the applicable period. In October 2018, the Company entered into an amendment to the Credit Agreement to increase the RCF by $50.0 million from $200.0 million to $250.0 million and extend the term by approximately one year to October 2022. In April and August of 2019, the Company entered into amendments to the Credit Agreement to, among other items, modify the financial covenants to provide greater flexibility in 2019. On December 14, 2020, the Company entered into an amendment to the Credit Agreement to increase the RCF from $250.0 million to $300.0 million and to include ING Capital LLC as an incremental lender on the RCF. On March 1, 2021, the Company entered into a fifth amendment to the Credit Agreement to, among other things, (i) extend the maturity date of the RCF to March 2025 and (ii) permit the Company to obtain one or more increases of the RCF, then-currently in the amount of $300.0 million, in an aggregate amount of up to $100.0 million in incremental loans and commitments, subject to certain conditions, including obtaining commitments from relevant lenders to provide such increase.
On May 2, 2022, the Company entered into an amendment (the “May Amendment”) to the Credit Agreement to increase the RCF from $300.0 million to $390.0 million and to include Goldman Sachs Bank USA as a lender on the RCF.
On November 9, 2022, the Company entered into an amendment (the “November Amendment”) to the RCF. The November Amendment, among other things, (1) modifies the financial covenants to provide greater flexibility under the consolidated net leverage ratio requirement through December 31, 2023, with the ratio returning to the original level as outlined in the RCF starting with March 31, 2024 (the “Amendment Period”), (2) allows up to $50 million for integration costs or costs associated with establishing new facilities and certain costs associated with LCM adjustments at Rochester to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF, (3) increases the interest rate on certain borrowings through early 2023, (4) requires the Company to repay outstanding amounts under the RCF if cash-on-hand exceeds $60 million during the Amendment Period, and (5) restricts certain payments and the incurrence of certain liens during the Amendment Period.
On August 9, 2023, the Company entered into an amendment (the “August Amendment”) to the RCF. The August Amendment, among other things, (1) modifies the financial covenants to provide greater flexibility during the final stages of the Rochester expansion under (a) the consolidated net leverage and consolidated senior secured leverage ratios at September 30, 2023 through March 31, 2024, with the ratios returning to the previous levels at June 30, 2024 and (b) the consolidated interest coverage ratio at June 30, 2023 through September 30, 2023 with the ratio returning to the previous level at December 31, 2023, (2) allows up to $50 million, through June 30, 2024, stepping down to $40 million in September 31, 2024, $30 million in December 31, 2024 and $15 million thereafter, for integration costs or costs associated with establishing new facilities and certain costs associated with LCM adjustments at Rochester to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF, (3) increases the interest rate on certain borrowings through June 30, 2024, and (4) restricts certain acquisitions through March 31, 2024.
On February 21, 2024, the Company entered into an amendment (the “February 2024 Amendment”) to the RCF. The February 2024 Amendment, among other things, (1) extends the term of the RCF by approximately 2 years so that it now matures in February 2027, (2) increases the RCF by $10 million from $390 million to $400 million, (3) adds Fédération Des Caisses Desjardins Du Québec and National Bank of Canada as lenders on the RCF, (4) permits the Company to obtain one or more increases of the RCF in an aggregate amount of up to $100.0 million in incremental loans and commitments, subject to certain conditions, including obtaining commitments from relevant lenders to provide such increase, (5) allows for unencumbered domestic cash to be included in the calculation of the consolidated net leverage ratio, and (6) allows up to $15 million of non-capitalized underground mine development costs related to Silvertip to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF.
The RCF is secured by substantially all of the assets of the Company and its U.S. subsidiaries, including the land, mineral rights and infrastructure at the Kensington, Rochester and Wharf mines as well as a pledge of the shares and other equity interests of certain of the Company’s subsidiaries. The Credit Agreement contains representations and warranties and affirmative and negative covenants that are usual and customary, including representations, warranties, and covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional debt, incur or permit liens on assets, make investments and acquisitions, consolidate or merge with any other company, engage in asset sales and make dividends and distributions. The Credit Agreement requires the Company to meet certain financial covenants, including a senior secured leverage ratio, a consolidated net leverage ratio and a consolidated interest coverage ratio. Obligations under the RCF may be accelerated upon the occurrence of certain customary events of default.
At December 31, 2023, the Company had $175.0 million drawn at a weighted-average interest rate of 9.2%, $29.6 million in outstanding letters of credit and $185.4 million available under the RCF. Future borrowing may be subject to certain financial covenants.
Finance Lease Obligations
From time to time, the Company acquires mining equipment and facilities under finance lease agreements. In the year ended December 31, 2023, the Company entered into new lease financing arrangements for mining equipment at Rochester and Kensington for $35.2 million. The new finance lease arrangements represent non-cash investing activities in the Consolidated Statement of Cash Flow. Coeur secured a finance lease package for nearly $60.0 million in 2021, all of which has been funded as of December 31, 2023. This package was earmarked for planned equipment for the Rochester expansion project in 2021, 2022 and 2023 and has an interest rate of 5.2%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. For more details, please see Note 8 -- Leases for additional qualitative and quantitative disclosures related to finance leasing arrangements.
Interest Expense
 Year Ended December 31,
In thousands202320222021
2024 Senior Notes$— $— $2,591 
2029 Senior Notes17,288 19,219 16,016 
Revolving Credit Facility17,752 8,503 2,296 
Finance lease obligations3,762 5,084 4,632 
Amortization of debt issuance costs2,709 2,052 1,726 
Other debt obligations2,149 166 303 
Capitalized interest(14,561)(11,163)(11,113)
Total interest expense, net of capitalized interest$29,099 $23,861 $16,451 
v3.24.0.1
Reclamation
12 Months Ended
Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]  
RECLAMATION RECLAMATION
Reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties. On an ongoing basis, management evaluates its estimates and assumptions, and future expenditures could differ from current estimates. The estimated reclamation and mine closure costs were discounted using credit-adjusted, risk-free interest rates ranging from 7.2% to 10.0%. The asset retirement obligation increased in 2023 due to overall inflationary impacts, increased reclamation and mine closure costs at Rochester associated with the POA 11 expansion project and additional costs at Wharf and Rochester associated with the existing open pit and leach pad operations. This was partially offset by a decrease at Kensington attributable to the timing of reclamation and mine closure costs resulting from the mine life extension.
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Year Ended December 31,
In thousands20232022
Asset retirement obligation - Beginning$202,431 $181,888 
Accretion16,405 14,232 
Additions and changes to estimates991 13,001 
Disposition of Sterling/Crown exploration properties— (1,840)
Settlements(5,814)(4,850)
Asset retirement obligation - Ending (1)
$214,013 $202,431 
(1) December 31, 2023 includes $11.0 million of asset retirement obligation that is expected to be paid in the next twelve months.
v3.24.0.1
Income and Mining Taxes
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202320222021
United States$(107,021)$(107,477)$(34,196)
Foreign38,565 44,028 37,832 
Total$(68,456)$(63,449)$3,636 
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202320222021
Current:   
United States$981 $(21)$25 
United States — State mining taxes(7,047)(2,936)(5,691)
United States — Foreign withholding tax(119)(300)(862)
Canada(848)(305)— 
Mexico(30,222)(29,546)(31,175)
Other— — — 
Deferred:
United States305 215 (651)
United States — State mining taxes(1,076)5,558 1,037 
Canada— 254 1,224 
Mexico2,870 12,423 1,135 
Other— — — 
Income tax (expense) benefit$(35,156)$(14,658)$(34,958)
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202320222021
Income and mining tax (expense) benefit at statutory rate$14,376 $13,249 $(764)
State tax provision from continuing operations4,859 2,871 2,009 
Change in valuation allowance(36,778)(36,670)(28,615)
Percentage depletion5,649 3,538 4,968 
Uncertain tax positions655 920 
U.S. and foreign permanent differences(3,056)365 4,105 
Foreign exchange rates1,179 (145)(384)
Foreign inflation and indexing3,077 2,897 (1,087)
Foreign tax rate differences(3,911)(4,994)(4,901)
Mining, foreign withholding, and other taxes(18,265)(11,070)(12,599)
Sale of non-core assets(1,322)15,447 — 
Other, net(970)(801)1,390 
Income and mining tax (expense) benefit$(35,156)$(14,658)$(34,958)
At December 31, 2023 and 2022, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20232022
Deferred tax liabilities:  
Other$— $— 
 $— $— 
Deferred tax assets:
Net operating loss carryforwards$302,114 $282,776 
Mineral properties44,244 31,095 
Property, plant, and equipment12,068 12,562 
Mining royalty tax7,345 7,440 
Capital loss carryforwards5,167 1,784 
Asset retirement obligation45,155 44,413 
Unrealized foreign currency loss and other— — 
Accrued expenses25,321 30,379 
Tax credit carryforwards14,506 16,167 
Other long-term assets11,566 3,914 
 $467,486 $430,530 
Valuation allowance(479,846)(444,989)
 $(12,360)$(14,459)
Net deferred tax liabilities$12,360 $14,459 
A valuation allowance is provided for deferred tax assets for which it is more likely than not that the related tax benefits will not be realized. The Company analyzes its deferred tax assets and, if it is determined that the Company will not realize all or a portion of its deferred tax assets, it will record or increase a valuation allowance. Conversely, if it is determined that the Company will ultimately be more likely than not able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced. There are a number of factors that impact the Company’s ability to realize its deferred tax assets. Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20232022
U.S. $262,059 $245,899 
Canada194,727 178,310 
Mexico723 441 
New Zealand22,229 19,993 
Other108 346 
 $479,846 $444,989 
The Company has the following tax attribute carryforwards at December 31, 2023, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$623,108 $440,506 $1,998 $79,886 $429 $1,145,927 
Expiration years2024-2037, Indefinite2028-20432029-2034Indefinite2025-2028
Capital losses— — — — — — 
Foreign tax credits10,864 — — — — 10,864 
As of December 31, 2023, for U.S. income tax purposes, the Company has federal and state net operating loss carryforwards of $623.1 million and $465.6 million, respectively. U.S. net operating loss carryforwards of $318.5 million arising before December 31, 2017 have a 20-year expiration period, the earliest of which could expire in 2024. U.S. net operating loss carryforwards of $304.6 million arising in 2018 and future periods have an indefinite carryforward period. Foreign tax credits expire if unused beginning in 2024.

The utilization of U.S. net operating loss carryforwards, tax credit carryforwards, and recognized built-in losses may be subject to limitation under the rules regarding a change in stock ownership as determined by the Internal Revenue Code and state tax laws. Section 382 of the Internal Revenue Code of 1986, as amended, imposes annual limitations on the utilization of net operating loss carryforwards, tax credit carryforwards, and certain built-in losses upon an ownership change as defined under that Section. Generally, an ownership change may result from transactions that increase the aggregate ownership of certain shareholders in the Company’s stock by more than 50 percentage points over a three-year testing period. If the Company experiences an ownership change, an annual limitation would be imposed on certain of the Company’s tax attributes, including net operating losses and certain other losses, credits, deductions or tax basis. Management has determined that the Company experienced ownership changes during 2002, 2003, 2007, and 2015 for purposes of Section 382. Based on management’s calculations, the Company does not expect any of its U.S. tax attributes to expire unused as a result of the Section 382 annual limitations. However, the annual limitations may impact the timeframe over which the net operating loss carryforwards can be used, potentially impacting cash tax liabilities in a future period. The U.S. federal tax credits and state net operating losses may potentially be limited as well. We continue to maintain a full valuation allowance on our US net deferred tax assets since it is more likely than not that the related tax benefits will not be realized.

The Company may also experience ownership changes in the future as a result of subsequent shifts in our stock ownership. As a result, if the Company earns U.S. federal taxable income, it may be limited in the ability to (1) recognize current deductions on built-in loss assets and (2) offset this income with our pre-change net operating loss carryforwards and other tax credit carryforwards, which may be subject to limitations, potentially resulting in increased future tax liability to us. Under the Tax Cuts and Jobs Act of 2017 (“TCJA”), federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating losses is limited to 80% of future taxable income. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act suspended the 80% limitation on losses incurred in 2018 and in future years, for tax years beginning before January 1, 2021. The Company does not expect this to impact its net operating loss usage.

In prior years, the Company had asserted that earnings from its Mexican operations were indefinitely reinvested; however, the Company now intends to repatriate certain earnings from its Mexican operations and has provided deferred income taxes on the planned distributions.
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2021$295 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions24 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(315)
Unrecognized tax benefits at December 31, 2022$
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(3)
Unrecognized tax benefits at December 31, 2023$
At December 31, 2023, 2022, and 2021, $2 thousand, $4 thousand, and $0.3 million, respectively, of these gross unrecognized benefits would, if recognized, decrease the Company’s effective tax rate.
The Company operates in numerous countries around the world and is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and, in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.
The Company files income tax returns in various U.S. federal and state jurisdictions, in all identified foreign jurisdictions, and various others. The statute of limitations remains open from 2020 for the US federal jurisdiction and from 2016 for certain other foreign jurisdictions. As a result of statutes of limitations that will begin to expire within the next 12 months in various jurisdictions and possible settlement of audit-related issues with taxing authorities in various jurisdictions with respect to which none of these issues are individually significant, the Company believes that it is reasonably possible that the total amount of its unrecognized income tax liability will decrease less than $0.1 million in the next 12 months.
The Company classifies interest and penalties associated with uncertain tax positions as a component of income tax expense and recognized interest and penalties of nil, nil, and $0.4 million at December 31, 2023, 2022, and 2021, respectively.
v3.24.0.1
Stock-Based Compensation
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company has stock incentive plans for executives and eligible employees. Stock awards include restricted stock, performance shares and stock options. Stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021 was $11.4 million, $10.0 million and $13.7 million, respectively. At December 31, 2023, there was $8.4 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.6 years.
    Restricted Stock
Restricted stock granted under the Company’s incentive plans is accounted for based on the market value of the underlying shares on the date of grant and generally vest in equal installments annually over three years. Restricted stock awards are accounted for as equity awards. Holders of restricted stock are entitled to vote the shares and to receive any dividends declared on the shares.
The following table summarizes restricted stock activity for the years ended December 31, 2023, 2022, and 2021:
 Restricted Stock
Number of
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20202,724,724 $5.26 
Granted932,442 8.88 
Vested(1,179,857)5.53 
Canceled/Forfeited(332,505)5.83 
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
Granted3,251,765 2.94 
Vested(1,381,246)5.09 
Canceled/Forfeited(680,710)3.66 
Outstanding at December 31, 20233,974,419 $3.54 
At December 31, 2023, there was $4.1 million of unrecognized compensation cost related to restricted stock awards to be recognized over a weighted-average period of 1.8 years.
Performance Shares
Performance shares granted under the Company’s incentive plans are accounted for as equity awards at fair value using a Monte Carlo simulation valuation model. Performance shares granted during and subsequent to 2020 will vest at the end of a three-year service period if internal performance metrics are met, with the number of shares vesting impacted by the inclusion of a modifier based upon a relative stockholder return metric. The relative stockholder return metric is included in the determination of the grant date fair value of the performance shares; however, the recognition of compensation cost for performance share awards is based on the results of the internal performance metrics. Performance shares granted prior to 2020 vested at the end of the three-year service period if relative stockholder return and internal performance metrics were met. The existence of a market condition required recognition of compensation cost for the performance share awards over the requisite period regardless of whether the relative stockholder return metric was met.
The following table summarizes performance shares activity for the years ended December 31, 2023, 2022, and 2021:
 Performance Shares
Number of
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20202,335,102 $4.83 
Granted (1)
602,933 10.13 
Vested(143,312)7.39 
Canceled/Forfeited (1)
(404,710)6.12 
Outstanding at December 31, 20212,390,013 $5.80 
Granted (2)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (2)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
Granted (3)
1,816,429 3.16 
Vested(566,891)4.00 
Canceled/Forfeited (3)
(664,165)4.32 
Outstanding at December 31, 20233,159,910 $4.52 
(1) Includes 1,421 additional shares granted and 141,894 shares cancelled in connection with the vesting of the 2018 award in 2021 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(2) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
(3) Includes 26,200 additional shares granted and 468,393 shares cancelled in connection with the vesting of the 2020 award in 2023 due to above-target and below target performance in accordance with the terms of the award.
At December 31, 2023, there was $4.3 million of unrecognized compensation cost related to performance shares to be recognized over a weighted average period of 1.4 years.
Stock Options
Stock options granted under the Company’s incentive plans generally vest over three years and are exercisable over a period not to exceed ten years from the grant date. The exercise price of stock options is equal to the fair market value of the shares on the date of the grant. The value of each stock option award is estimated using the Black-Scholes option pricing model. Stock options are accounted for as equity awards.
The following table summarizes stock option activity for the years ended December 31, 2023, 2022, and 2021:
 Stock Options
SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2020222,273 $15.44 
Exercised(57,721)7.74 
Canceled/forfeited(16,455)18.45 
Expired(16,844)27.45 
Outstanding at December 31, 2021131,253 $16.91 
Canceled/forfeited(5,598)11.88 
Expired(31,667)25.19 
Outstanding at December 31, 202293,988 $14.41 
Canceled/forfeited— — 
Expired(39,658)23.90 
Outstanding at December 31, 202354,330 $7.49 
The following table summarizes outstanding stock options as of December 31, 2023:
Range of
Exercise Price
Number
Outstanding
Weighted Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (Years)
Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0054,330 $7.49 2.4NA
$10.00-$20.00— $— 0.0NA
$20.00-$30.00— $— 0.0NA
Outstanding54,330 $7.49 2.4$— 
Vested and expected to vest54,330 $7.49 2.4$— 
Exercisable54,330 $7.49 2.4$— 
The total intrinsic value of options exercised for the year ended December 31, 2023 was nil. Cash received from options exercised for the year ended December 31, 2023 was nil and there was no related tax benefit. The grant date fair value for stock options vested during the years ended December 31, 2023, 2022, and 2021 was nil.
v3.24.0.1
Fair Value Measurements
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 Year Ended December 31,
In thousands202320222021
Change in the value of equity securities(1)
$3,384 $(63,529)$(10,476)
Exchange agreement embedded derivative— — 9,933 
Termination of gold zero cost collars— (3,139)— 
Fair value adjustments, net$3,384 $(66,668)$(543)
(1) Includes unrealized losses on held equity securities of nil, $47.9 million, and $10.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1), secondary priority to quoted prices in inactive markets or observable inputs (Level 2), and the lowest priority to unobservable inputs (Level 3).
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$318 $— $318 $— 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards
$1,981 $— $1,981 $— 
 
 Fair Value at December 31, 2022
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities including warrants$44,152 $43,893 $259 $— 
Provisional metal sales contracts299 — 299 — 
Gold forwards12,343 — 12,343 — 
$56,794 $43,893 $12,901 $— 
Liabilities:
Provisional metal sales contracts$10 $— $10 $— 
The Company’s investments in equity securities were recorded at fair market value in the financial statements based primarily on quoted market prices. Such instruments are classified within Level 1 of the fair value hierarchy. The common share purchase warrants the Company received as consideration in the La Preciosa project sale were valued using a pricing model with inputs derived from observable market data, including quoted market prices and quoted interest curve rates. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
The Company’s provisional metal sales contracts include concentrate and certain doré sales contracts that are valued using pricing models with inputs derived from observable market data, including forward market prices.
The Company’s gold and silver forward contracts are valued using pricing models with inputs derived from observable market data, including forward market prices, yield curves, and credit spreads.
No assets or liabilities were transferred between fair value levels in the year ended December 31, 2023.
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2023 and December 31, 2022 is presented in the following table:
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million
(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.
 December 31, 2022
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Assets:
Promissory note$4,926 $4,579 $— $4,579 $— 
Deferred cash consideration$7,677 $7,317 $— $7,317 $— 
Liabilities:
2029 Senior Notes(1)
$369,212 $291,924 $— $291,924 $— 
Revolving Credit Facility(2)
$80,000 $80,000 $— $80,000 $— 
(1) Net of unamortized debt issuance costs of $5.8 million.
(2) Unamortized debt issuance costs of $3.6 million included in Other Non-Current Assets.
The fair value of the 2029 Senior Notes was estimated using quoted market prices. The fair value of the RCF approximates book value as the liability is secured, has a variable interest rate, and lacks significant credit concerns.
In March 2022, the Company completed the sale of the La Preciosa project. The consideration for the sale of La Preciosa project included a promissory note payable to the Company that matured in March 2023 and was paid in full, and deferred cash consideration payable on the first anniversary of initial production from any portion of the La Preciosa project. These assets were valued using the pricing model with inputs derived from observable market data, including synthetic credit rating and quoted discount rate. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. The consideration for the sale of La Preciosa project also included two royalties: a 1.25% net smelter returns royalty on properties covering the Gloria and
Abundancia areas of the La Preciosa project and a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas, and contingent consideration of $0.25 per silver equivalent ounce (adjusted for inflation) on any new mineral reserves discovered and declared outside of the current resources area at the La Preciosa project, up to a maximum payment of $50.0 million. These assets were initially measured at fair value at inception and remeasured at fair value on a nonrecurring basis. The fair value of the royalties and the contingent consideration assets were $11.2 million and $1.2 million, respectively, valued as of the date of closing of the transaction and were measured at fair value on a non-recurring basis. The fair value of the royalties and the contingent consideration were valued using Monte Carlo simulation models. The model inputs included significant unobservable inputs and involve significant management judgment. The significant unobservable inputs included assumptions related to metal prices which assumed silver prices ranging from $22 to $25 per ounce and gold prices ranging from $1,700 to $1,930 per ounce as well as volatility assumptions for silver and gold prices (33.5% and 19.0%, respectively), and an assumed weighted average cost of capital of 15.5%. Such instruments are classified as Level 3 of the fair value hierarchy.
In May 2023, the Company sold the La Preciosa Deferred Consideration for cash consideration of $7.0 million and deferred consideration of $1.0 million payable on the first anniversary of initial production from any portion of the La Preciosa project resulting in a loss on the sale of $12.3 million, which was recognized in Other, Net in the Consolidated Statement of Comprehensive Income (Loss). The deferred cash consideration was measured at a fair value of $0.8 million at inception and will be remeasured at fair value on a nonrecurring basis. It was valued using the pricing model with inputs derived from observable market data, including synthetic credit rating and quoted discount rate. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
The consideration for the sale of Sterling/Crown exploration properties included the right to an additional payment of $50.0 million should the Buyer, its affiliates or its successors, report gold resources in the Sterling/Crown exploration properties (including any in-situ ounces mined after the closing of the Transaction) equal to or greater than 3,500,000 gold ounces, subject to certain additional terms and conditions detailed in the stock purchase agreement. The fair value of the contingent consideration asset of $13.0 million valued as of the date of closing of the transaction was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis. The model inputs include significant unobservable inputs, involve significant management judgment and is classified as Level 3 of the fair value hierarchy. The significant unobservable inputs included managements assumption related to the probability (75%) and timing (ranging from 5 years to 30 years) of achieving reported gold resources equal to or greater than 3,500,000 gold ounces and a discount rate of 8.1%.
v3.24.0.1
Derivative Financial Instruments
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS & HEDGING ACTIVITIES
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign currency exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. Derivative gains and losses are included in operating cash flows in the period in which they contractually settle. The Company does not hold or issue derivatives for trading or speculative purposes.
The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP. The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to either recognized assets or liabilities or forecasted transactions and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships.
Derivatives Designated as Cash Flow Hedging Strategies
To protect the Company’s exposure to fluctuations in metal prices, particularly during times of elevated capital expenditures, the Company enters into forward contracts. The contracts are net settled monthly and if the actual price of gold or silver at the time of expiration is lower than the fixed price or higher than the fixed price, it would result in a realized gain or loss, respectively. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception.
At December 31, 2023, the Company had the following derivative cash flow hedge instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Gold forwards
Average gold fixed price per ounce$2,076 $— 
Notional ounces94,950 — 
Silver forwards
Average silver fixed price per ounce$25.16 $— 
Notional ounces3,099,999 — 
The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) (“AOCI”) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized.
At inception, the Company performed an assessment of the forecasted transactions and the hedging instruments and determined that the hedging relationships are considered perfectly effective. Future assessments are performed to verify that critical terms of the hedging instruments and the forecasted transactions continue to match, and the forecasted transactions remain probable, as well as an assessment of any adverse developments regarding the risk of the counterparties defaulting on their commitments. There have been no such changes in critical terms or adverse developments.
As of December 31, 2023, the Company had $1.3 million of net after-tax gains in AOCI related to gains from cash flow hedge transactions, of which $1.3 million of net after-tax gains is expected to be recognized in its Consolidated Statement of Comprehensive Income (Loss) during the next 12 months. Actual amounts ultimately reclassified to net income are dependent on the price of gold and silver for metal contracts.
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
 December 31, 2022
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$12,343 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021, respectively (in thousands).
Year Ended December 31,
202320222021
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(10,627)$42,043 $— 
Silver forwards10,309 — — 
Gold zero cost collars— (4,598)22,733 
Foreign currency forward exchange contracts— — 50 
$(318)$37,445 $22,783 
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$(3,697)$(28,488)$— 
Silver forwards(6,997) — 
Gold zero cost collars— 4,598 938 
Foreign currency forward exchange contracts— — (13,797)
$(10,694)$(23,890)$(12,859)
Derivatives Not Designated as Hedging Instruments
Provisional Metal Sales
The Company enters into sales contracts with third-party smelters, refiners and off-take customers which, in some cases, provide for a provisional payment based upon preliminary assays and quoted metal prices. The provisionally priced sales contracts contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable recorded at the forward price at the time of sale. The embedded derivatives do not qualify for hedge accounting and are marked to market through earnings each period until final settlement.
Zero Cost Collars
To protect the Company’s exposure to fluctuations in metal prices the Company entered into Asian (or average value) put and call option contracts in net-zero-cost collar arrangements. The contracts were net cash settled monthly and, if the price of gold at the time of expiration was between the put and call prices, it would expire at no cost to the Company. If the price of gold at the time of expiration was lower than the put prices or higher than the call prices, it would result in a realized gain or loss, respectively. The Company elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. In the first quarter of 2022, the Company voluntarily de-designated hedge accounting for the zero cost collars and subsequently terminated the arrangements. The cost to terminate the zero cost collars was $7.7 million, of which $3.1 million was recognized in earnings and the remaining $4.6 million, which represents the fair value of the zero cost collars on the date of de-designation, was retained in AOCI and was recognized in earnings in 2022 as the forecasted transactions occurred.
At December 31, 2023, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Provisional gold sales contracts$31,570 $— 
Average gold price per ounce$2,032 $— 
Notional ounces15,537 — 
The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
 December 31, 2022
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$299 $10 
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2023, 2022, and 2021, respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202320222021
RevenueProvisional metal sales contracts$30 $365 $(490)
Fair value adjustments, netExchange agreement embedded derivative— — 9,933 
Fair value adjustments, netTerminated zero cost collars— (3,139)— 
$30 $(2,774)$9,443 
Credit Risk
The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.
v3.24.0.1
Additional Comprehensive Income (Loss) Detail
12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Additional Comprehensive Income (Loss) Detail ADDITIONAL COMPREHENSIVE INCOME (LOSS) DETAIL
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202320222021
COVID-19$111 $1,739 $6,618 
Silvertip ongoing carrying costs15,616 20,963 24,928 
(Gain) loss on sale of assets12,879 (640)(4,111)
Asset retirement accretion16,405 14,232 11,988 
Other9,625 4,353 5,144 
Pre-development, reclamation and other$54,636 $40,647 $44,567 

Other, net consists of the following:
 Year Ended December 31,
In thousands202320222021
Foreign exchange gain (loss)$(459)$(850)$(2,779)
Gain (loss) on dispositions(1)
(12,318)63,789 — 
VAT write-down— — (25,982)
RMC bankruptcy distribution1,516 1,651 — 
Other3,798 1,741 1,725 
Other, net$(7,463)$66,331 $(27,036)
(1) See Note 13 -- Fair Value Measurements and Note 20 — Dispositions for additional details on the gain (loss) on dispositions.
v3.24.0.1
Net Income (Loss) Per Share
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.
For the years ended December 31, 2023, 2022 and 2021, there were 1,777,273, 952,664 and 634,419 common stock equivalents, respectively, related to equity-based awards that were not included in the diluted earnings per share calculation as the shares would be antidilutive.
Year ended December 31,
In thousands except per share amounts202320222021
Net income (loss) available to common stockholders$(103,612)$(78,107)$(31,322)
Weighted average shares:
Basic343,059 275,178 250,044 
Effect of stock-based compensation plans— — — 
Diluted343,059 275,178 250,044 
Income (loss) per share:
Basic$(0.30)$(0.28)$(0.13)
Diluted$(0.30)$(0.28)$(0.13)
On September 13, 2023, the Company completed a $50.0 million “at the market” offering of its common stock, par value $0.01 per share (the “September 2023 Equity Offering”). The September 2023 Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement, entered into on August 10, 2023 between the Company and BMO Capital Markets Corp., BofA Securities, Inc. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 21,699,856 shares of its common stock in the September 2023 Equity Offering at an average price of $2.30 per share, raising net proceeds (after sales commissions) of $49.3 million. Proceeds from the September 2023 Equity Offering were used to reduce outstanding amounts under the RCF and for general corporate purposes.
On June 21, 2023, the Company entered into subscription agreements (the “Subscription Agreements”) with certain Canadian accredited investors (the “Investors”) for a private placement offering (the “Private Placement Offering”) of an aggregate of 5,276,154 shares of common stock, par value $0.01 per share, to be issued as “flow-through shares,” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “FT Shares”), which closed on June 27, 2023. The Company granted an over-allotment option of up to 3,000,000 additional flow-through shares, which was exercised in full and closed on July 20, 2023. The proceeds of the Private Placement Offering will be used by the Company for certain qualifying “Canadian Exploration Expenditures” (as such term is defined in the Income Tax Act (Canada)). The initial Private Placement Offering raised net proceeds of $18.2 million, of which $5.1 million represents net proceeds received in excess of the Company’s trading price (“FT Premium Liability”). The FT Premium Liability is included in Accrued liabilities and other on the Consolidated Balance Sheet and will decrease in subsequent periods as certain qualifying “Canadian Exploration Expenditures” are incurred. The over-allotment raised net proceeds of $10.5 million, including an additional $2.7 million of FT Premium Liability. In 2023, the Company incurred qualifying Canadian Exploration Expenditures which resulted in the recognition of $2.3 million of the FT Premium Liability as a gain in the Income Statement. The remaining outstanding FT Premium Liability was $5.5 million as of December 31, 2023.
The FT Shares were not registered under the Securities Act and were offered and sold outside the United States to accredited investors in reliance on Regulation S and/or Regulation D of the Securities Act.
On March 17, 2023, the Company completed a $100.0 million “at the market” offering of its common stock, par value $0.01 per share (the “March 2023 Equity Offering”). The March 2023 Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement, entered into on February 23, 2023 between the Company and BMO Capital Markets Corp. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 32,861,580 shares of its common stock in the March 2023 Equity Offering at an average price of $3.04 per share, raising net proceeds (after sales commissions) of $98.4 million. Proceeds from the March 2023 Equity Offering were used to reduce outstanding amounts under the RCF and for general corporate purposes.
v3.24.0.1
Supplemental Guarantor Information
12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
SUPPLEMENTAL GUARANTOR INFORMATION SUPPLEMENTAL GUARANTOR INFORMATION
The following summarized financial information is presented to satisfy disclosure requirements of Rule 13-01 of Regulation S-X resulting from the guarantees by Coeur Alaska, Inc., Coeur Explorations, Inc., Coeur Rochester, Inc., Coeur South America Corp., Wharf Resources (U.S.A.), Inc. and its subsidiaries, Coeur Capital, Inc., Sterling Intermediate Holdco, Inc., and Coeur Sterling Holdings LLC (collectively, the “Subsidiary Guarantors”) of the 2029 Senior Notes. The following schedules present summarized financial information of (a) Coeur, the parent company and (b) the Subsidiary Guarantors (collectively the “Obligor Group”). The summarized financial information of the Obligor Group is presented on a combined basis with intercompany balances and transactions between entities in the Obligor Group eliminated. The Obligor Group’s amounts due from, amounts due to and transactions with certain wholly-owned domestic and foreign subsidiaries of the Company have been presented in separate line items, if they are material. Each of the Subsidiary Guarantors is 100% owned by Coeur and the guarantees are full and unconditional and joint and several obligations. There are no restrictions on the ability of Coeur to obtain funds from the Subsidiary Guarantors by dividend or loan.
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Guarantor Subsidiaries
In thousandsDecember 31, 2023December 31, 2022December 31, 2023December 31, 2022
Current assets$19,850 $73,692 $143,170 $137,432 
Non-current assets(1)
$393,773 $445,778 $1,286,135 $991,213 
Non-guarantor intercompany assets$— $4,391 $— $— 
Current liabilities$27,836 $19,842 $198,262 $136,788 
Non-current liabilities$478,488 $457,195 $203,405 $193,024 
Non-guarantor intercompany liabilities$6,033 $58,257 $1,591 $1,594 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.



SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2023
In thousandsCoeur Mining, Inc.Guarantor Subsidiaries
Revenue$— $507,998 
Gross profit (loss)$(1,104)$10,422 
Net income (loss)$(103,612)$(44,819)
v3.24.0.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Mexico Litigation Matters
As of December 31, 2023, $31.2 million in principal is due from the Mexican government associated with amounts that were paid as VAT under Coeur Mexicana, S.A. de C.V.’s (“Coeur Mexicana’s”) prior royalty agreement with a subsidiary of Franco-Nevada Corporation, which was terminated in 2016. Coeur Mexicana applied for and initially received refunds in the normal course of these amounts paid as VAT associated with the royalty payments; however, in 2011 the Mexican tax authorities began denying refunds of these amounts based on the argument that VAT was not legally due on the royalty payments. Accordingly, Coeur Mexicana began to request refunds of these amounts paid as VAT as undue payments, which the Mexican tax authorities also denied. The Company has since been engaged in ongoing efforts to recover these amounts from the Mexican government (including through refiling refund requests as undue payments rather than refunds of VAT that was due, litigation and international arbitration). Despite a favorable ruling from Mexican tax courts in this matter in 2018, litigation of the matter continued at the Mexican administrative, appeals court and supreme court levels for several years, most of which was determined unfavorably to Coeur based on interpretations of applicable law and prior court decisions which the Company and its counsel believe are contrary to legal precedent, conflicting and erroneous. While the Company believes that it remains legally entitled to be refunded the full amount of the receivable and intends to rigorously continue its recovery efforts, based on the continued failure to recover the receivable and unfavorable Mexican court decisions, the Company determined to write down the carrying value of the receivable at September 30, 2021. Coeur has elected to initiate an arbitration proceeding under Chapter 11 of the North American Free Trade Agreement, or NAFTA, to pursue recovery of the unduly paid VAT plus interest and other damages. Outcomes in NAFTA arbitration and the process for recovering funds even if there is a successful outcome in NAFTA arbitration can be lengthy and unpredictable.
In addition, ongoing litigation with the Mexican government associated with enforcement of water rights in Mexico, if unsuccessful, may impact Coeur Mexicana’s ability to access new sources of water to provide sufficient supply for its operations at Palmarejo and, if material, may have a material adverse impact on the Company’s operations and financial results.
Palmarejo Gold Stream
Coeur Mexicana sells 50% of Palmarejo gold production (excluding production from certain properties acquired in 2015) to a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) under a gold stream agreement for the lesser of $800 or spot price per ounce. In 2016, Coeur Mexicana received a $22.0 million deposit toward future deliveries under the gold stream agreement. In accordance with generally accepted accounting principles, although Coeur Mexicana has satisfied its contractual obligation to repay the deposit to Franco-Nevada, the deposit is accounted for as deferred revenue and is recognized as revenue on a units-of-production basis as ounces are sold to Franco-Nevada. Because there is no minimum obligation associated with the deposit, it is not considered a financing, and each shipment is considered to be a separate performance obligation. The stream agreement represents a contract liability under ASC 606, which requires the Company to ratably recognize a portion of the deposit as revenue for each gold ounce delivered to Franco-Nevada. The remaining unamortized balance is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheet.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202320222021
Opening Balance$7,411 $8,150 $9,376 
Revenue Recognized(469)(739)(1,226)
Closing Balance$6,942 $7,411 $8,150 
Metal Sales Prepayments
In June 2019, Coeur amended its existing sales and purchase contract with a metal sales counterparty for gold concentrate from its Kensington mine (the “Amended Sales Contract”). From time to time thereafter, the Amended Sales Contract has been further amended to allow for additional prepayments. In December 2022, the Company received a $25.0 million prepayment, all of which was recognized as revenue in the first half of 2023. In June 2023, the Company exercised an option to receive a further $25.0 million prepayment, all of which was recognized as revenue in the first half of 2023. In December 2023, the Company received a $25.0 million prepayment. Additionally, in June 2023, the Company entered into sales and purchase contracts with a metal sales counterparty to allow for a $10.0 million prepayment for deliveries of electrolytic cathodic sludge from its Wharf mine and a $10.0 million prepayment for deliveries of gold and silver doré from its Rochester mine, all of which were recognized as revenue in the third quarter of 2023. In September 2023, the contracts related to Wharf and Rochester were amended to increase the maximum amount available in prepayments to $12.5 million and $17.5 million, respectively, all of which were recognized as revenue in the fourth quarter of 2023. In December 2023, Wharf and Rochester received additional prepayments of $12.5 million and $17.5 million, respectively.
The metal sales prepayments represent a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold and silver ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Consolidated Balance Sheet. Under the relevant terms of the Amended Sales Contract, Coeur maintains its exposure to the price of gold and expects to recognize the remaining value of the accrued liability by December 2024.
The following table presents a roll forward of the prepayment contract liability balance:
Year Ended December 31,
In thousands202320222021
Opening Balance$25,016 $15,016 $15,003 
Additions130,066 36,020 30,013 
Revenue Recognized(100,000)(26,020)(30,000)
Closing Balance$55,082 $25,016 $15,016 
Kensington Royalty Matter
The Company’s subsidiary Coeur Alaska, Inc. (“Coeur Alaska”) is currently engaged in litigation with Maverix Metals Inc. and Maverix Metals (Nevada) Inc. (collectively “Maverix”) regarding the appropriate costs to be included in the cost recoupment calculation under a royalty deed before the royalty is payable on production from a portion of the Kensington mine
property (the “Maverix Litigation”). While the Company continues to believe in the validity of its claims and counterclaims in the matter, it has determined that settlement is appropriate given the inherent uncertainty presented in litigation matters. Accordingly, on February 15, 2024, Coeur Alaska and Maverix entered into a settlement agreement term sheet (“Settlement Term Sheet”) and the court granted their joint request to vacate the upcoming trial date and pretrial deadlines while the parties finalize definitive documentation of the settlement. Although the Settlement Term Sheet outlines key terms for dismissing the Maverix Litigation, definitive documentation has not yet been finalized. The Company believes that it is reasonably possible that the final terms of the settlement could result in a potential loss that the Company estimates to be between $1 million and $7 million.
Mining Concession
On November 20, 2023, Coeur Mexicana S.A. de C.V. signed a purchase agreement with a subsidiary of Fresnillo plc to acquire mining concessions adjacent to the Palmarejo mine. Total consideration includes a cash payment of approximately $25 million, with $10 million due at closing, an additional $10 million payable 12 months after closing, and an additional $5 million payable 24 months after closing. The concessions will be subject to an inflation-adjusted royalty payment of $25 per ounce for each new gold-equivalent ounce of resource discovered between 450,000 and two million gold equivalent ounces. Closing is subject to applicable regulatory approvals in Mexico.
Other Commitments and Contingencies
As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit, bank guarantees and, in some cases, cash as financial support for various purposes, including environmental remediation, reclamation, collateral for gold and silver hedges and other general corporate purposes. As of December 31, 2023 and December 31, 2022, the Company had surety bonds totaling $324.8 million and $326.8 million, respectively, in place as financial support for future reclamation and closure costs. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations and, from time-to-time, the Company may be required to post collateral, including cash or letters of credit which reduce availability under its revolving credit facility, to support these instruments. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. The Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements through existing or alternative means, as they arise.
v3.24.0.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information
12 Months Ended
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block] ADDITIONAL BALANCE SHEET DETAIL AND SUPPLEMENTAL CASH FLOW INFORMATION
Accrued liabilities and other consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Accrued salaries and wages$31,722 $29,868 
Flow-through share premium received (including over-allotment)5,563 — 
Deferred revenue (1)
55,547 25,736 
Income and mining taxes11,766 7,874 
Accrued operating costs11,081 6,241 
Unrealized losses on derivatives1,981 10 
Taxes other than income and mining5,321 3,318 
Accrued interest payable7,957 8,256 
Operating lease liabilities9,975 11,560 
Accrued liabilities and other$140,913 $92,863 
(1) See Note 18 -- Commitments and Contingencies for additional details on deferred revenue liabilities.
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that total the same such amounts shown in the Consolidated Statements of Cash Flows in the years ended December 31, 2023 and 2022:
In thousandsDecember 31, 2023December 31, 2022
Cash and cash equivalents$61,633 $61,464 
Restricted cash equivalents1,745 1,705 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$63,378 $63,169 
Year ended December 31,
202320222021
Non-cash lease obligations arising from obtaining operating lease assets$718 $4,120 $1,197 
Non-cash financing and investing activities:
Finance lease obligations$32,978 $43,810 $37,860 
Capital expenditures, not yet paid$44,966 $33,688 $40,904 
Debt for equity exchange $76,018 $— $— 
Non-cash acquisition of Victoria Gold Corp common stock$— $— $118,777 
Other cash flow information:
Interest paid$41,249 $32,704 $19,655 
Income and mining taxes paid$35,000 $41,600 $57,200 
v3.24.0.1
Disposals
12 Months Ended
Dec. 31, 2023
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures DISPOSITIONS
On September 18, 2022, the Company entered into a Stock Purchase Agreement with AngloGold Ashanti (U.S.A.) Holdings Inc. and its affiliate (the “Buyer”) for the sale of 100% of the issued and outstanding shares of Coeur Sterling, Inc., a subsidiary of Coeur that operates the Sterling/Crown exploration properties near Beatty, Nevada, in exchange for: (A) a cash payment of $150.2 million at the closing of the transaction, subject to a customary purchase price adjustment and (B) the right to an additional payment of $50.0 million, valued at $13.0 million, should the Buyer, its affiliates or its successors report gold resources in the Sterling/Crown exploration properties (including any in-situ ounces mined after the closing of the Transaction) equal to or greater than 3,500,000 gold ounces, subject to certain additional terms and conditions detailed in the stock purchase agreement. The transaction was consummated on November 4, 2022. The Sterling/Crown sale resulted in a gain on the sale of $62.2 million, which was recognized in Other, Net in the Consolidated Statements of Comprehensive Income (Loss).
On October 27, 2021 the Company entered into a definitive agreement (the “La Preciosa Agreement”) to sell its La Preciosa project located in the State of Durango, Mexico to Avino (the “La Preciosa Sale”). On March 21, 2022, the La Preciosa Sale was completed. Coeur and its subsidiaries received the following consideration at closing:
$15.3 million cash,
$5.0 million promissory note that matures prior to the first anniversary of the transaction closing, valued at $4.7 million,
Equity consideration of 14.0 million units, consisting of one share of Avino common stock and one half of one common share purchase warrant of Avino common stock, valued at $13.7 million and $2.2 million, respectively. Common share purchase warrants are exercisable at $1.09 per share and expire September 2023.
In addition, under the La Preciosa Agreement, Coeur is entitled to the following additional consideration:
$8.8 million deferred cash consideration to be paid no later than the first anniversary of initial production from any portion of the La Preciosa project, valued at $7.4 million,
Contingent payments of $0.25 per silver equivalent ounce (subject to an inflationary adjustment) on any new mineral reserves discovered and declared outside of the current resource area at the La Preciosa project, up to a maximum payment of $50.0 million, valued at $1.2 million, and
Two royalties, valued at $11.2 million, covering the La Preciosa land package, including (i) a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and (ii) a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas, offset by the amount of any new mineral reserve contingent payments made to Coeur.
The La Preciosa sale resulted in a gain on the sale of $1.5 million, which was recognized in Other, Net in the Consolidated Statements of Comprehensive Income (Loss). In May 2023, the Company sold the La Preciosa Deferred Consideration for cash consideration of $7.0 million and deferred consideration of $1.0 million payable on the first anniversary of initial production from any portion of the La Preciosa project, resulting in a loss on the sale of $12.3 million, which was recognized in Other, Net in the Consolidated Statement of Comprehensive Income (Loss).
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Summary of Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Risks and Uncertainties [Policy Text Block]
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment and mining properties, net, inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events such as future pandemics could result in material impairment charges related to these assets.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Consolidation, Policy [Policy Text Block]
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Reclassification, Policy [Policy Text Block]
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the current year presentation.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables, Policy [Policy Text Block]
Receivables
Trade receivables and other receivable balances are recognized net of an allowance for credit losses. The allowance represents the portion of the amortized cost basis that the Company does not expect to collect due to credit over the contractual life of the receivables, taking into considered past events, current conditions and reasonable and supportable forecasts of future economic conditions. As of December 31, 2023, the amount of credit loss recognized is not significant.
Ore on Leach Pad [Policy Text Block]
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue and are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold electrolytic cathodic sludge at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. As of December 31, 2023, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 25,659 and 3.9 million, respectively.
Metal and Other Inventory [Policy Text Block]
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant and Equipment, Useful Life
Property, Plant, and Equipment and Mining Properties, Net
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the
estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $10.0 million and $21.6 million in the years ended December 31, 2023 and 2022, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Restricted Assets Policy [Policy Text Block]
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these
obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2023 and 2022, the Company held certificates of deposit and cash under these agreements of $9.1 million and $9.0 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Lessee, Leases [Policy Text Block]
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and Other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 8 -- Leases for additional information related to the Company’s operating and finance leases.
Asset Retirement Obligation [Policy Text Block]
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 10 -- Reclamation for additional information.
Foreign Currency Transactions and Translations Policy [Policy Text Block]
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivatives, Policy [Policy Text Block]
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative
instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 14 -- Derivative Financial Instruments and Hedging Activities for additional information.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model using market comparison. Stock options granted are accounted for as equity-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock-based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company's stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company's performance, and related tax impacts. See Note 12 -- Stock-Based Compensation for additional information.
Income Tax, Policy [Policy Text Block]
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Revenue Recognition, Policy
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months after the shipment date, based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
Recently Adopted Accounting Standards
Recently Adopted Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company adopted the new derivatives and hedging standards effective January 1, 2023 and does not expect the new derivatives and hedging standard to have a material effect on our financial position, results of operations or cash flows.
Recent Accounting Standards
Recently Issued Accounting Standards
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our Consolidated Financial Statements and related disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our Consolidated Financial Statements and related disclosures.
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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Financial information relating to the reporting segments
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2023PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$155,036 $75,571 $162,010 $183,060 $— $— $575,677 
Silver sales158,171 80,451 468 6,439 — — 245,529 
Metal sales313,207 156,022 162,478 189,499 — — 821,206 
Costs and Expenses
Costs applicable to sales(1)
194,309 171,271 152,659 114,657 — — 632,896 
Amortization35,709 26,392 25,905 6,694 4,018 1,104 99,822 
Exploration7,840 1,221 7,900 — 12,251 1,750 30,962 
Other operating expenses8,064 26,005 3,440 4,157 17,104 37,471 96,241 
Other income (expense)
Gain on debt extinguishment— — — — — 3,437 3,437 
Fair value adjustments, net— — — — — 3,384 3,384 
Interest expense, net844 (1,603)(1,744)(329)(63)(26,204)(29,099)
Other, net(3)
4,590 (293)(311)(396)(129)(10,924)(7,463)
Income and mining tax (expense) benefit(26,016)(816)— (7,047)— (1,277)(35,156)
Net Income (loss) $46,703 $(71,579)$(29,481)$56,219 $(33,565)$(71,909)$(103,612)
Segment assets(2)
$312,879 $1,081,442 $171,602 $102,245 $215,545 $59,324 $1,943,037 
Capital expenditures$41,766 $263,401 $53,316 $2,472 $2,867 $795 $364,617 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail

Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses4,372 7,540 1,685 1,379 22,322 42,809 80,107 
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (306)(206)(62)(354)64,055 66,331 
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(2)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
Year Ended December 31, 2021PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$150,098 $49,659 $214,635 $164,519 $— $— $578,911 
Silver sales170,176 81,163 370 2,208 — — 253,917 
Metal sales320,274 130,822 215,005 166,727 — — 832,828 
Costs and Expenses
Costs applicable to sales(1)
153,655 131,240 133,065 93,579 — — 511,539 
Amortization36,062 20,187 54,933 11,038 4,797 1,298 128,315 
Exploration8,561 6,016 6,656 143 15,287 14,506 51,169 
Other operating expenses4,442 5,915 6,285 1,770 26,090 40,464 84,966 
Other income (expense)
Loss on debt extinguishment— — — — — (9,173)(9,173)
Fair value adjustments, net— — — — — (543)(543)
Interest expense, net(592)(1,034)(704)(145)1,276 (15,252)(16,451)
Other, net(3)
(28,198)(328)(164)1,634 (406)426 (27,036)
Income and mining tax (expense) benefit(29,730)559 (414)(4,799)1,478 (2,052)(34,958)
Net Income (loss) $59,034 $(33,339)$12,784 $56,887 $(43,826)$(82,862)$(31,322)
Segment assets(2)
$294,893 $559,283 $142,926 $87,579 $230,617 $109,636 $1,424,934 
Capital expenditures$36,539 $166,548 $27,522 $8,072 $70,069 $1,031 $309,781 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
Consolidated Assets
Assets December 31, 2023December 31, 2022
Total assets for reportable segments$1,943,037 $1,669,982 
Cash and cash equivalents61,633 61,464 
Other assets76,178 114,697 
Total consolidated assets$2,080,848 $1,846,143 
Long Lived Assets by Country
Geographic Information
Long-Lived Assets December 31, 2023December 31, 2022
United States$1,201,988 $899,960 
Mexico256,906 251,950 
Canada229,242 237,723 
Other152 122 
Total$1,688,288 $1,389,755 
Revenue by Country
RevenueYear ended December 31,
202320222021
United States$507,999 $482,202 $512,554 
Mexico313,207 303,434 320,274 
Total$821,206 $785,636 $832,828 
Major Customers by Reporting Segments
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years ended December 31, 2023, 2022, and 2021 (in millions):
Year ended December 31,
Customer202320222021Segments reporting revenue
Bank of Montreal$367.2 $341.5 $98.7 Palmarejo, Rochester, Wharf
Ocean Partners$346.2 $168.9 $176.4 Palmarejo, Kensington
Asahi$63.7 $125.3 $323.8 Palmarejo, Rochester, Kensington, Wharf
v3.24.0.1
Receivables (Tables)
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Receivables Receivables consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Current receivables:
Trade receivables$3,858 $6,302 
VAT receivable15,634 10,741 
Income tax receivable10,207 9,719 
Avino note receivable (1)
— 4,926 
Gold and silver forwards realized gains (2)
615 4,059 
Other721 586 
$31,035 $36,333 
Non-current receivables:
Other tax receivable (3)
$9,111 $— 
Deferred cash consideration (1)
834 7,677 
Contingent consideration (1)
13,195 14,346 
$23,140 $22,023 
Total receivables$54,175 $58,356 
(1) See Note 13 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
(2) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settle in subsequent months. See Note 14 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
(3) Consists of exploration credit refunds at Silvertip.
v3.24.0.1
Inventory and Ore on Leach Pads (Tables)
12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
Inventories Inventory consists of the following:
In thousandsDecember 31, 2023December 31, 2022
Inventory:
Concentrate$3,606 $2,869 
Precious metals20,395 12,636 
Supplies52,660 46,326 
$76,661 $61,831 
Ore on Leach Pads:
Current$79,400 $82,958 
Non-current25,987 51,268 
$105,387 $134,226 
Long-term Stockpile (included in Other)
$46,702 $28,840 
Total Inventory and Ore on Leach Pads$228,750 $224,897 
    
Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2023, the cost of stock pile, leach pad and metal inventory at Rochester exceeded its net realizable value, which resulted in non-cash write down of $45.6 million ($39.9 million was recognized in Costs applicable to sales and $5.8 million in Amortization).
v3.24.0.1
Investments (Tables)
12 Months Ended
Dec. 31, 2023
Investment in Marketable Securities [Abstract]  
Investments From time to time, the Company makes strategic investments in equity securities of silver and gold exploration, development and royalty and streaming companies or receives securities as transaction consideration. The Company had no outstanding investments in equity securities as of December 31, 2023.
At December 31, 2023At December 31, 2022
In thousandsCostEstimated
Fair Value
CostGross
Unrealized
Losses
Gross
Unrealized
Gains
Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$— $— $70,560 $(38,528)$— $32,032 
Integra Resources Corp.— — 9,455 (7,115)— 2,340 
Avino Silver & Gold Mines Ltd— — 13,720 (4,199)— 9,521 
Other— — 2,233 (1,974)— 259 
Equity securities$— $— $95,968 $(51,816)$— $44,152 
v3.24.0.1
Property, Plant and Equipment (Tables)
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
Property, plant and equipment and mining properties, net consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Mine development$1,358,189 $1,533,385 
Mineral interests809,912 821,112 
Land8,318 8,242 
Facilities and equipment(1)
947,435 800,957 
Construction in progress(2)
612,865 236,019 
Total$3,736,719 $3,399,715 
Accumulated depreciation, depletion and amortization(3)
(2,048,431)(2,009,960)
Property, plant and equipment and mining properties, net$1,688,288 $1,389,755 
(1) Includes $127.6 million and $148.2 million associated with facilities and equipment assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
(2) Includes $471.7 million and $139.7 million of construction costs related to the Rochester Expansion project at December 31, 2023 and December 31, 2022, respectively.
(3) Includes $37.6 million and $80.3 million of accumulated amortization related to assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
v3.24.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Lease Cost and Cash Flow Information
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202320222021
Lease Cost
Operating lease cost$12,536 $11,939 $12,585 
Short-term operating lease cost$12,223 $10,573 $11,219 
Finance Lease Cost:
Amortization of leased assets$27,985 $21,571 $21,685 
Interest on lease liabilities3,762 5,084 4,632 
Total finance lease cost$31,747 $26,655 $26,317 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202320222021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24,759 $22,511 $24,009 
Operating cash flows from finance leases$3,762 $5,084 $4,632 
Financing cash flows from finance leases$24,505 $31,316 $31,544 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2023December 31, 2022
Operating Leases
Other assets, non-current$14,064 $24,603 
Accrued liabilities and other9,975 11,560 
Other long-term liabilities6,340 14,946 
Total operating lease liabilities$16,315 $26,506 
Finance Leases
Property and equipment, gross$127,591 $148,174 
Accumulated depreciation(37,612)(80,336)
Property and equipment, net$89,979 $67,838 
Debt, current$22,636 $24,578 
Debt, non-current52,558 42,143 
Total finance lease liabilities$75,194 $66,721 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.031.76
Weighted-average remaining lease term - operating leases5.194.44
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.1 %5.2 %
Weighted-average discount rate - operating leases5.3 %5.2 %
Operating Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2023 (In thousands)
Operating leases Finance leases
2024$10,075 $26,391 
2025817 24,465 
2026756 15,381 
2027890 8,474 
2028941 10,288 
Thereafter5,576 — 
Total$19,055 $84,999 
Less: imputed interest(2,740)(9,805)
Net lease obligation$16,315 $75,194 
Finance Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2023 (In thousands)
Operating leases Finance leases
2024$10,075 $26,391 
2025817 24,465 
2026756 15,381 
2027890 8,474 
2028941 10,288 
Thereafter5,576 — 
Total$19,055 $84,999 
Less: imputed interest(2,740)(9,805)
Net lease obligation$16,315 $75,194 
v3.24.0.1
Debt (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Long term debt and capital lease obligations
 December 31, 2023December 31, 2022
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $295,115 $— $369,212 
Revolving Credit Facility(2)
— 175,000 — 80,000 
Finance lease obligations22,636 52,559 24,578 42,143 
$22,636 $522,674 $24,578 $491,355 
(1) Net of unamortized debt issuance costs of $3.9 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively.
(2) Unamortized debt issuance costs of $2.8 million and $3.6 million at December 31, 2023 and December 31, 2022, respectively, included in Other Non-Current Assets.
Interest Expenses Incurred for Various Debt Instruments [Table Text Block]
Interest Expense
 Year Ended December 31,
In thousands202320222021
2024 Senior Notes$— $— $2,591 
2029 Senior Notes17,288 19,219 16,016 
Revolving Credit Facility17,752 8,503 2,296 
Finance lease obligations3,762 5,084 4,632 
Amortization of debt issuance costs2,709 2,052 1,726 
Other debt obligations2,149 166 303 
Capitalized interest(14,561)(11,163)(11,113)
Total interest expense, net of capitalized interest$29,099 $23,861 $16,451 
v3.24.0.1
Reclamation (Tables)
12 Months Ended
Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Year Ended December 31,
In thousands20232022
Asset retirement obligation - Beginning$202,431 $181,888 
Accretion16,405 14,232 
Additions and changes to estimates991 13,001 
Disposition of Sterling/Crown exploration properties— (1,840)
Settlements(5,814)(4,850)
Asset retirement obligation - Ending (1)
$214,013 $202,431 
(1) December 31, 2023 includes $11.0 million of asset retirement obligation that is expected to be paid in the next twelve months.
v3.24.0.1
Income and Mining Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202320222021
United States$(107,021)$(107,477)$(34,196)
Foreign38,565 44,028 37,832 
Total$(68,456)$(63,449)$3,636 
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202320222021
Current:   
United States$981 $(21)$25 
United States — State mining taxes(7,047)(2,936)(5,691)
United States — Foreign withholding tax(119)(300)(862)
Canada(848)(305)— 
Mexico(30,222)(29,546)(31,175)
Other— — — 
Deferred:
United States305 215 (651)
United States — State mining taxes(1,076)5,558 1,037 
Canada— 254 1,224 
Mexico2,870 12,423 1,135 
Other— — — 
Income tax (expense) benefit$(35,156)$(14,658)$(34,958)
Schedule of Effective Income Tax Rate Reconciliation
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202320222021
Income and mining tax (expense) benefit at statutory rate$14,376 $13,249 $(764)
State tax provision from continuing operations4,859 2,871 2,009 
Change in valuation allowance(36,778)(36,670)(28,615)
Percentage depletion5,649 3,538 4,968 
Uncertain tax positions655 920 
U.S. and foreign permanent differences(3,056)365 4,105 
Foreign exchange rates1,179 (145)(384)
Foreign inflation and indexing3,077 2,897 (1,087)
Foreign tax rate differences(3,911)(4,994)(4,901)
Mining, foreign withholding, and other taxes(18,265)(11,070)(12,599)
Sale of non-core assets(1,322)15,447 — 
Other, net(970)(801)1,390 
Income and mining tax (expense) benefit$(35,156)$(14,658)$(34,958)
Schedule of Deferred Tax Assets and Liabilities
At December 31, 2023 and 2022, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20232022
Deferred tax liabilities:  
Other$— $— 
 $— $— 
Deferred tax assets:
Net operating loss carryforwards$302,114 $282,776 
Mineral properties44,244 31,095 
Property, plant, and equipment12,068 12,562 
Mining royalty tax7,345 7,440 
Capital loss carryforwards5,167 1,784 
Asset retirement obligation45,155 44,413 
Unrealized foreign currency loss and other— — 
Accrued expenses25,321 30,379 
Tax credit carryforwards14,506 16,167 
Other long-term assets11,566 3,914 
 $467,486 $430,530 
Valuation allowance(479,846)(444,989)
 $(12,360)$(14,459)
Net deferred tax liabilities$12,360 $14,459 
Summary of Valuation Allowance Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20232022
U.S. $262,059 $245,899 
Canada194,727 178,310 
Mexico723 441 
New Zealand22,229 19,993 
Other108 346 
 $479,846 $444,989 
Summary of Tax Credit Carryforwards
The Company has the following tax attribute carryforwards at December 31, 2023, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$623,108 $440,506 $1,998 $79,886 $429 $1,145,927 
Expiration years2024-2037, Indefinite2028-20432029-2034Indefinite2025-2028
Capital losses— — — — — — 
Foreign tax credits10,864 — — — — 10,864 
Summary of Income Tax Contingencies
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2021$295 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions24 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(315)
Unrecognized tax benefits at December 31, 2022$
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(3)
Unrecognized tax benefits at December 31, 2023$
v3.24.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock activity for the years ended December 31, 2023, 2022, and 2021:
 Restricted Stock
Number of
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20202,724,724 $5.26 
Granted932,442 8.88 
Vested(1,179,857)5.53 
Canceled/Forfeited(332,505)5.83 
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
Granted3,251,765 2.94 
Vested(1,381,246)5.09 
Canceled/Forfeited(680,710)3.66 
Outstanding at December 31, 20233,974,419 $3.54 
Share-based Payment Arrangement, Performance Shares, Outstanding Activity
The following table summarizes performance shares activity for the years ended December 31, 2023, 2022, and 2021:
 Performance Shares
Number of
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20202,335,102 $4.83 
Granted (1)
602,933 10.13 
Vested(143,312)7.39 
Canceled/Forfeited (1)
(404,710)6.12 
Outstanding at December 31, 20212,390,013 $5.80 
Granted (2)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (2)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
Granted (3)
1,816,429 3.16 
Vested(566,891)4.00 
Canceled/Forfeited (3)
(664,165)4.32 
Outstanding at December 31, 20233,159,910 $4.52 
(1) Includes 1,421 additional shares granted and 141,894 shares cancelled in connection with the vesting of the 2018 award in 2021 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(2) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
(3) Includes 26,200 additional shares granted and 468,393 shares cancelled in connection with the vesting of the 2020 award in 2023 due to above-target and below target performance in accordance with the terms of the award.
Schedule of Stock Options Roll Forward
The following table summarizes stock option activity for the years ended December 31, 2023, 2022, and 2021:
 Stock Options
SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2020222,273 $15.44 
Exercised(57,721)7.74 
Canceled/forfeited(16,455)18.45 
Expired(16,844)27.45 
Outstanding at December 31, 2021131,253 $16.91 
Canceled/forfeited(5,598)11.88 
Expired(31,667)25.19 
Outstanding at December 31, 202293,988 $14.41 
Canceled/forfeited— — 
Expired(39,658)23.90 
Outstanding at December 31, 202354,330 $7.49 
The following table summarizes outstanding stock options as of December 31, 2023:
Range of
Exercise Price
Number
Outstanding
Weighted Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (Years)
Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0054,330 $7.49 2.4NA
$10.00-$20.00— $— 0.0NA
$20.00-$30.00— $— 0.0NA
Outstanding54,330 $7.49 2.4$— 
Vested and expected to vest54,330 $7.49 2.4$— 
Exercisable54,330 $7.49 2.4$— 
v3.24.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Adjustments to Comprehensive income (Loss)
 Year Ended December 31,
In thousands202320222021
Change in the value of equity securities(1)
$3,384 $(63,529)$(10,476)
Exchange agreement embedded derivative— — 9,933 
Termination of gold zero cost collars— (3,139)— 
Fair value adjustments, net$3,384 $(66,668)$(543)
(1) Includes unrealized losses on held equity securities of nil, $47.9 million, and $10.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Financial assets and liabilities measured at fair value on recurring basis
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$318 $— $318 $— 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards
$1,981 $— $1,981 $— 
 
 Fair Value at December 31, 2022
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities including warrants$44,152 $43,893 $259 $— 
Provisional metal sales contracts299 — 299 — 
Gold forwards12,343 — 12,343 — 
$56,794 $43,893 $12,901 $— 
Liabilities:
Provisional metal sales contracts$10 $— $10 $— 
Financial Assets and Liabilities not Measured at Fair Value
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2023 and December 31, 2022 is presented in the following table:
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million
(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.
 December 31, 2022
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Assets:
Promissory note$4,926 $4,579 $— $4,579 $— 
Deferred cash consideration$7,677 $7,317 $— $7,317 $— 
Liabilities:
2029 Senior Notes(1)
$369,212 $291,924 $— $291,924 $— 
Revolving Credit Facility(2)
$80,000 $80,000 $— $80,000 $— 
(1) Net of unamortized debt issuance costs of $5.8 million.
(2) Unamortized debt issuance costs of $3.6 million included in Other Non-Current Assets.
v3.24.0.1
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instruments, future settlement
At December 31, 2023, the Company had the following derivative cash flow hedge instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Gold forwards
Average gold fixed price per ounce$2,076 $— 
Notional ounces94,950 — 
Silver forwards
Average silver fixed price per ounce$25.16 $— 
Notional ounces3,099,999 — 
At December 31, 2023, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Provisional gold sales contracts$31,570 $— 
Average gold price per ounce$2,032 $— 
Notional ounces15,537 — 
Fair value of the derivative instruments
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
 December 31, 2022
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$12,343 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021, respectively (in thousands).
Year Ended December 31,
202320222021
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(10,627)$42,043 $— 
Silver forwards10,309 — — 
Gold zero cost collars— (4,598)22,733 
Foreign currency forward exchange contracts— — 50 
$(318)$37,445 $22,783 
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$(3,697)$(28,488)$— 
Silver forwards(6,997) — 
Gold zero cost collars— 4,598 938 
Foreign currency forward exchange contracts— — (13,797)
$(10,694)$(23,890)$(12,859)
The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
 December 31, 2022
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$299 $10 
Gain losses on derivative instruments
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2023, 2022, and 2021, respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202320222021
RevenueProvisional metal sales contracts$30 $365 $(490)
Fair value adjustments, netExchange agreement embedded derivative— — 9,933 
Fair value adjustments, netTerminated zero cost collars— (3,139)— 
$30 $(2,774)$9,443 
Credit Risk
The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.
v3.24.0.1
Additional Comprehensive Income (Loss) Detail (Tables)
12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Schedule of Other Operating Cost and Expense, by Component
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202320222021
COVID-19$111 $1,739 $6,618 
Silvertip ongoing carrying costs15,616 20,963 24,928 
(Gain) loss on sale of assets12,879 (640)(4,111)
Asset retirement accretion16,405 14,232 11,988 
Other9,625 4,353 5,144 
Pre-development, reclamation and other$54,636 $40,647 $44,567 
Schedule of Nonoperating Income (Expense)
Other, net consists of the following:
 Year Ended December 31,
In thousands202320222021
Foreign exchange gain (loss)$(459)$(850)$(2,779)
Gain (loss) on dispositions(1)
(12,318)63,789 — 
VAT write-down— — (25,982)
RMC bankruptcy distribution1,516 1,651 — 
Other3,798 1,741 1,725 
Other, net$(7,463)$66,331 $(27,036)
(1) See Note 13 -- Fair Value Measurements and Note 20 — Dispositions for additional details on the gain (loss) on dispositions.
v3.24.0.1
Net Income (Loss) Per Share (Tables)
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Year ended December 31,
In thousands except per share amounts202320222021
Net income (loss) available to common stockholders$(103,612)$(78,107)$(31,322)
Weighted average shares:
Basic343,059 275,178 250,044 
Effect of stock-based compensation plans— — — 
Diluted343,059 275,178 250,044 
Income (loss) per share:
Basic$(0.30)$(0.28)$(0.13)
Diluted$(0.30)$(0.28)$(0.13)
v3.24.0.1
Supplemental Guarantor Information (Tables)
12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Guarantor Subsidiaries
In thousandsDecember 31, 2023December 31, 2022December 31, 2023December 31, 2022
Current assets$19,850 $73,692 $143,170 $137,432 
Non-current assets(1)
$393,773 $445,778 $1,286,135 $991,213 
Non-guarantor intercompany assets$— $4,391 $— $— 
Current liabilities$27,836 $19,842 $198,262 $136,788 
Non-current liabilities$478,488 $457,195 $203,405 $193,024 
Non-guarantor intercompany liabilities$6,033 $58,257 $1,591 $1,594 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
Schedule of Comprehensive Income (Loss)
SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2023
In thousandsCoeur Mining, Inc.Guarantor Subsidiaries
Revenue$— $507,998 
Gross profit (loss)$(1,104)$10,422 
Net income (loss)$(103,612)$(44,819)
v3.24.0.1
Commitment and Contingencies (Tables)
12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of Contract Liability
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202320222021
Opening Balance$7,411 $8,150 $9,376 
Revenue Recognized(469)(739)(1,226)
Closing Balance$6,942 $7,411 $8,150 
The following table presents a roll forward of the prepayment contract liability balance:
Year Ended December 31,
In thousands202320222021
Opening Balance$25,016 $15,016 $15,003 
Additions130,066 36,020 30,013 
Revenue Recognized(100,000)(26,020)(30,000)
Closing Balance$55,082 $25,016 $15,016 
v3.24.0.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Tables)
12 Months Ended
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]  
Schedule of Accrued Liabilities [Table Text Block]
Accrued liabilities and other consist of the following:
In thousandsDecember 31, 2023December 31, 2022
Accrued salaries and wages$31,722 $29,868 
Flow-through share premium received (including over-allotment)5,563 — 
Deferred revenue (1)
55,547 25,736 
Income and mining taxes11,766 7,874 
Accrued operating costs11,081 6,241 
Unrealized losses on derivatives1,981 10 
Taxes other than income and mining5,321 3,318 
Accrued interest payable7,957 8,256 
Operating lease liabilities9,975 11,560 
Accrued liabilities and other$140,913 $92,863 
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that total the same such amounts shown in the Consolidated Statements of Cash Flows in the years ended December 31, 2023 and 2022:
In thousandsDecember 31, 2023December 31, 2022
Cash and cash equivalents$61,633 $61,464 
Restricted cash equivalents1,745 1,705 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$63,378 $63,169 
Year ended December 31,
202320222021
Non-cash lease obligations arising from obtaining operating lease assets$718 $4,120 $1,197 
Non-cash financing and investing activities:
Finance lease obligations$32,978 $43,810 $37,860 
Capital expenditures, not yet paid$44,966 $33,688 $40,904 
Debt for equity exchange $76,018 $— $— 
Non-cash acquisition of Victoria Gold Corp common stock$— $— $118,777 
Other cash flow information:
Interest paid$41,249 $32,704 $19,655 
Income and mining taxes paid$35,000 $41,600 $57,200 
v3.24.0.1
Summary of Significant Accounting Policies - Property Plant and Equipment (Details)
Dec. 31, 2023
Minimum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 7 years
Minimum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 3 years
Maximum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 30 years
Maximum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 10 years
v3.24.0.1
Summary of Significant Accounting Policies -Mining Properties and Mine Development (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Drilling and Related Costs Capitalized $ 10.0 $ 21.6
v3.24.0.1
Summary of Significant Accounting Policies - Restricted Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Certificates of Deposit, at Carrying Value $ 9.1 $ 9.0
v3.24.0.1
Segment Reporting (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Financial information relating to reporting segments      
Revenue $ 821,206 $ 785,636 $ 832,828
Amortization 99,822 111,626 128,315
Other operating expenses 96,241 80,107 84,966
Fair value adjustments, net, pretax 3,384 (66,668) (543)
Interest expense, net of capitalized interest (29,099) (23,861) (16,451)
Other, net [1] (7,463) 66,331 (27,036)
Income and mining tax (expense) benefit (35,156) (14,658) (34,958)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (103,612) (78,107) (31,322)
Net income (loss) (103,612) (78,107) (31,322)
Assets, Net [2] 1,943,037 1,669,982 1,424,934
Capital expenditures 364,617 352,354 309,781
Gain on debt extinguishment 3,437 0 (9,173)
Palmarejo [Member]      
Financial information relating to reporting segments      
Amortization 35,709 35,432 36,062
Other operating expenses 8,064 4,372 4,442
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest 844 (12) (592)
Other, net [1] 4,590 3,204 (28,198)
Income and mining tax (expense) benefit (26,016) (28,771) (29,730)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 46,703 48,870 59,034
Assets, Net [2] 312,879 295,715 294,893
Capital expenditures 41,766 42,648 36,539
Gain on debt extinguishment 0   0
Rochester      
Financial information relating to reporting segments      
Amortization 26,392 22,626 20,187
Other operating expenses 26,005 7,540 5,915
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (1,603) (810) (1,034)
Other, net [1] (293) (306) (328)
Income and mining tax (expense) benefit (816) 876 559
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (71,579) (70,536) (33,339)
Assets, Net [2] 1,081,442 809,116 559,283
Capital expenditures 263,401 246,360 166,548
Gain on debt extinguishment 0   0
Kensington      
Financial information relating to reporting segments      
Amortization 25,905 39,032 54,933
Other operating expenses 3,440 1,685 6,285
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (1,744) (1,446) (704)
Other, net [1] (311) (206) (164)
Income and mining tax (expense) benefit 0 127 (414)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (29,481) (2,111) 12,784
Assets, Net [2] 171,602 148,516 142,926
Capital expenditures 53,316 31,456 27,522
Gain on debt extinguishment 0   0
Wharf      
Financial information relating to reporting segments      
Amortization 6,694 8,247 11,038
Other operating expenses 4,157 1,379 1,770
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (329) (66) (145)
Other, net [1] (396) (62) 1,634
Income and mining tax (expense) benefit (7,047) (2,868) (4,799)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 56,219 34,361 56,887
Assets, Net [2] 102,245 105,209 87,579
Capital expenditures 2,472 3,138 8,072
Gain on debt extinguishment 0   0
Silvertip [Member]      
Financial information relating to reporting segments      
Amortization 4,018 4,912 4,797
Other operating expenses 17,104 22,322 26,090
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (63) (176) 1,276
Other, net [1] (129) (354) (406)
Income and mining tax (expense) benefit 0 0 1,478
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (33,565) (32,392) (43,826)
Assets, Net [2] 215,545 244,151 230,617
Capital expenditures 2,867 24,797 70,069
Gain on debt extinguishment 0   0
Other Mining Properties [Member]      
Financial information relating to reporting segments      
Amortization 1,104 1,377 1,298
Other operating expenses 37,471 42,809 40,464
Fair value adjustments, net, pretax 3,384 (66,668) (543)
Interest expense, net of capitalized interest (26,204) (21,351) (15,252)
Other, net [1] (10,924) 64,055 426
Income and mining tax (expense) benefit (1,277) 15,978 (2,052)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (71,909) (56,299) (82,862)
Assets, Net [2] 59,324 67,275 109,636
Capital expenditures 795 3,955 1,031
Gain on debt extinguishment 3,437   (9,173)
Gold [Member]      
Financial information relating to reporting segments      
Revenue 575,677 572,877 578,911
Gold [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 155,036 157,595 150,098
Gold [Member] | Rochester      
Financial information relating to reporting segments      
Revenue 75,571 64,460 49,659
Gold [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 162,010 201,859 214,635
Gold [Member] | Wharf      
Financial information relating to reporting segments      
Revenue 183,060 148,963 164,519
Gold [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Gold [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Silver      
Financial information relating to reporting segments      
Revenue 245,529 212,759 253,917
Product, Silver | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 158,171 145,839 170,176
Product, Silver | Rochester      
Financial information relating to reporting segments      
Revenue 80,451 65,203 81,163
Product, Silver | Kensington      
Financial information relating to reporting segments      
Revenue 468 634 370
Product, Silver | Wharf      
Financial information relating to reporting segments      
Revenue 6,439 1,083 2,208
Product, Silver | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Silver | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Metal [Member]      
Financial information relating to reporting segments      
Revenue 821,206 785,636 832,828
Product, Metal [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 313,207 303,434 320,274
Product, Metal [Member] | Rochester      
Financial information relating to reporting segments      
Revenue 156,022 129,663 130,822
Product, Metal [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 162,478 202,493 215,005
Product, Metal [Member] | Wharf      
Financial information relating to reporting segments      
Revenue 189,499 150,046 166,727
Product, Metal [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Metal [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product      
Financial information relating to reporting segments      
Costs applicable to sales [3] 632,896 606,530 511,539
Product | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales [3] 194,309 182,576 153,655
Product | Rochester      
Financial information relating to reporting segments      
Costs applicable to sales [3] 171,271 165,166 131,240
Product | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales [3] 152,659 155,725 133,065
Product | Wharf      
Financial information relating to reporting segments      
Costs applicable to sales [3] 114,657 103,063 93,579
Product | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales [3] 0 0 0
Product | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales [3] 0 0 0
Mineral, Exploration      
Financial information relating to reporting segments      
Costs applicable to sales 30,962 26,624 51,169
Mineral, Exploration | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 7,840 6,605 8,561
Mineral, Exploration | Rochester      
Financial information relating to reporting segments      
Costs applicable to sales 1,221 4,627 6,016
Mineral, Exploration | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales 7,900 6,637 6,656
Mineral, Exploration | Wharf      
Financial information relating to reporting segments      
Costs applicable to sales 0 0 143
Mineral, Exploration | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 12,251 4,628 15,287
Mineral, Exploration | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales $ 1,750 $ 4,127 $ 14,506
[1] See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
[2] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
[3] Excludes amortization.
v3.24.0.1
Segment Reporting (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting [Abstract]      
Assets, Net [1] $ 1,943,037 $ 1,669,982 $ 1,424,934
Cash and cash equivalents 61,633 61,464  
Other assets 76,178 114,697  
TOTAL ASSETS $ 2,080,848 $ 1,846,143  
[1] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
v3.24.0.1
Segment Reporting (Details 2) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 1,688,288 $ 1,389,755  
Revenues      
Revenue 821,206 785,636 $ 832,828
United States      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 1,201,988 899,960  
Revenues      
Revenue 507,999 482,202 512,554
Canada      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 229,242 237,723  
Mexico      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 256,906 251,950  
Revenues      
Revenue 313,207 303,434 $ 320,274
Other Foreign Countries [Member]      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 152 $ 122  
v3.24.0.1
Segment Reporting - Summary of Concentration Risk (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Concentration Risk [Line Items]      
Revenue $ 821,206 $ 785,636 $ 832,828
Customer Concentration Risk [Member] | RMC [Member]      
Concentration Risk [Line Items]      
Revenue 367,200 341,500 98,700
Customer Concentration Risk [Member] | Ocean Partners [Member]      
Concentration Risk [Line Items]      
Revenue 346,200 168,900 176,400
Customer Concentration Risk [Member] | Asahi Formerly Johnson Matthey [Member]      
Concentration Risk [Line Items]      
Revenue $ 63,700 $ 125,300 $ 323,800
v3.24.0.1
Segment Reporting - Narrative (Details) - Revenue, Product and Service Benchmark - Product Concentration Risk [Member]
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dore [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 80.00% 74.00% 74.00%
Concentrate [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 20.00% 26.00% 26.00%
v3.24.0.1
Receivables (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Receivables - current portion    
Accounts receivable - trade $ 3,858 $ 6,302
Refundable value added tax 15,634 10,741
Income Taxes Receivable 10,207 9,719
Accounts and Financing Receivable, after Allowance for Credit Loss [1] 0 4,926
Derivative Asset, Current [2] 615 4,059
Accounts receivable - other 721 586
Receivables, net current portion 31,035 36,333
Receivables - non-current portion    
Other tax receivable [3] 9,111 0
Deferred cash consideration (1) [1] 834 7,677
Contingent consideration (1) [1] 13,195 14,346
Non-current receivables: 23,140 22,023
Total receivables $ 54,175 $ 58,356
[1] See Note 13 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
[2] Represents realized gains on gold and silver forward hedges from December 2023 that contractually settle in subsequent months. See Note 14 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
[3] Consists of exploration credit refunds at Silvertip.
v3.24.0.1
Inventory and Ore on Leach Pads (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Inventory Disclosure [Abstract]    
Inventory, Finished Goods, Net of Reserves $ 3,606 $ 2,869
Other Inventory, Net of Reserves 20,395 12,636
Inventory, Supplies, Net of Reserves 52,660 46,326
Inventory 76,661 61,831
Ore on Leach Pad, Current 79,400 82,958
Ore on leach pads, noncurrent 25,987 51,268
Inventory, Ore Stockpiles on Leach Pads, Gross 105,387 134,226
Inventory and Ore on Leach Pads 228,750 224,897
Long-Term Inventory Stockpile $ 46,702 $ 28,840
v3.24.0.1
Inventory and Ore on Leach Pads - Narrative (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Inventory [Line Items]      
Inventory Write-down $ 40,247 $ 45,978 $ 38,596
Rochester      
Inventory [Line Items]      
Inventory Write-down 45,600    
Rochester | Amortization      
Inventory [Line Items]      
Inventory Write-down 5,800    
Rochester | Cost of Sales      
Inventory [Line Items]      
Inventory Write-down $ 39,900    
v3.24.0.1
Investments (Details) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 2 Months Ended 12 Months Ended
May 31, 2023
Jan. 31, 2023
Nov. 30, 2023
Dec. 31, 2022
Dec. 31, 2023
Investment in Marketable Securities (Textual) [Abstract]          
Current liabilities       $ 12,120 $ 0
Marketable Securities, Current       32,032 0
Equity securities       44,152 0
Equity securities          
Investment in Marketable Securities (Textual) [Abstract]          
Cost       95,968 0
Equity Securities, FV-NI, Unrealized Gain (Loss)       0  
Equity Securities, FV-NI, Unrealized Gain       51,816  
Victoria Gold Corp | Equity securities          
Investment in Marketable Securities (Textual) [Abstract]          
Cost       70,560 0
Equity Securities, FV-NI, Unrealized Gain (Loss)       0  
Equity Securities, FV-NI, Unrealized Gain       38,528  
Marketable Securities, Current       32,032 0
Equity method investment, amount sold (in shares)   6,000,000      
Equity Method Investments, Sale of Stock, Price Per Share   $ 6.70      
Proceeds from sale of equity method investments   $ 39,800      
Integra Resources Corp. [Member] | Equity securities          
Investment in Marketable Securities (Textual) [Abstract]          
Cost       9,455 0
Equity Securities, FV-NI, Unrealized Gain (Loss)       0  
Equity Securities, FV-NI, Unrealized Gain       7,115  
Current liabilities       2,340 0
Equity method investment, amount sold (in shares) 3,700,000        
Equity Method Investments, Sale of Stock, Price Per Share $ 0.48        
Proceeds from sale of equity method investments $ 1,800        
Avino Silver & Gold Mines Ltd | Equity securities          
Investment in Marketable Securities (Textual) [Abstract]          
Cost       13,720 0
Equity Securities, FV-NI, Unrealized Gain (Loss)       0  
Equity Securities, FV-NI, Unrealized Gain       4,199  
Current liabilities       9,521 0
Equity method investment, amount sold (in shares)     14,000,000    
Equity Method Investments, Sale of Stock, Price Per Share     $ 0.43    
Proceeds from sale of equity method investments     $ 6,100    
Other Investments [Member] | Equity securities          
Investment in Marketable Securities (Textual) [Abstract]          
Cost       2,233 0
Equity Securities, FV-NI, Unrealized Gain (Loss)       0  
Equity Securities, FV-NI, Unrealized Gain       1,974  
Current liabilities       $ 259 $ 0
v3.24.0.1
Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Property, plant and equipment    
Operational Mining Properties Gross $ 1,358,189 $ 1,533,385
Mineral Interest 809,912 821,112
Land 8,318 8,242
Buildings and Improvements, Gross [1] 947,435 800,957
Property, Plant and Equipment, Gross 3,736,719 3,399,715
Accumulated depreciation and amortization [2] (2,048,431) (2,009,960)
Construction in Progress, Gross [3] 612,865 236,019
Property, plant and equipment and mining properties, net $ 1,688,288 $ 1,389,755
[1] Includes $127.6 million and $148.2 million associated with facilities and equipment assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
[2] Includes $37.6 million and $80.3 million of accumulated amortization related to assets under finance leases at December 31, 2023 and December 31, 2022, respectively.
[3] Includes $471.7 million and $139.7 million of construction costs related to the Rochester Expansion project at December 31, 2023 and December 31, 2022, respectively.
v3.24.0.1
Property, Plant and Equipment (Details Textual) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]    
Finance Lease, Right-of-Use Asset, before Accumulated Amortization $ 127,600 $ 148,200
Construction in Progress, Gross [1] 612,865 236,019
Finance Lease, Right-Of-Use Asset, Accumulated Depreciation 37,612 80,336
Rochester    
Property, Plant and Equipment [Line Items]    
Construction in Progress, Gross $ 471,700 $ 139,700
[1] Includes $471.7 million and $139.7 million of construction costs related to the Rochester Expansion project at December 31, 2023 and December 31, 2022, respectively.
v3.24.0.1
Leases - Summary of Lease Cost and Cash Flow Information (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Lease Cost      
Operating lease cost $ 12,536 $ 11,939 $ 12,585
Short-term Lease, Cost 12,223 10,573 11,219
Finance Lease Cost:      
Amortization of leased assets 27,985 21,571 21,685
Total finance lease cost 31,747 26,655 26,317
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases 24,759 22,511 24,009
Financing cash flows from finance leases 24,505 31,316 31,544
Finance Lease, Interest Expense $ 3,762 $ 5,084 $ 4,632
v3.24.0.1
Leases - Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Weighted Average Discount Rate    
Weighted-average discount rate - finance leases 6.10% 5.20%
Weighted-average discount rate - operating leases 5.30% 5.20%
Operating Leases    
Other assets, non-current $ 14,064 $ 24,603
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities and other Accrued liabilities and other
Accrued liabilities and other $ 9,975 $ 11,560
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Other long-term liabilities $ 6,340 $ 14,946
Total operating lease liabilities 16,315 26,506
Finance Leases    
Property and equipment, gross 127,591 148,174
Accumulated depreciation (37,612) (80,336)
Property and equipment, net 89,979 67,838
Debt, current 22,636 24,578
Debt, non-current 52,558 42,143
Total finance lease liabilities $ 75,194 $ 66,721
Weighted Average Remaining Lease Term    
Weighted-average remaining lease term - finance leases 2 years 10 days 1 year 9 months 3 days
Weighted-average remaining lease term - operating leases 5 years 2 months 8 days 4 years 5 months 8 days
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Debt Debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Debt Debt
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent
v3.24.0.1
Leases - Summary of Minimum Future Lease Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Operating leases    
2024 $ 10,075  
2025 817  
2026 756  
2027 890  
2028 941  
Thereafter 5,576  
Total 19,055  
Less: imputed interest (2,740)  
Net lease obligation 16,315 $ 26,506
Finance leases    
2024 26,391  
2025 24,465  
2026 15,381  
2027 8,474  
2028 10,288  
Thereafter 0  
Total 84,999  
Less: imputed interest (9,805)  
Net lease obligation $ 75,194 $ 66,721
v3.24.0.1
Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Long term debt and capital lease obligations    
Current $ 22,636 $ 24,578
Debt 522,674 491,355
Senior Notes due 2029    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs 3,900 5,800
Senior Notes due 2029    
Long term debt and capital lease obligations    
Debt [1] 295,115 369,212
Revolving Credit Facility    
Long term debt and capital lease obligations    
Debt [2] 175,000 80,000
Finance Lease Obligations    
Long term debt and capital lease obligations    
Debt 52,559 42,143
Senior Notes due 2029    
Long term debt and capital lease obligations    
Current [1] 0 0
Revolving Credit Facility    
Long term debt and capital lease obligations    
Current [2] 0 0
Finance Lease Obligations    
Long term debt and capital lease obligations    
Current 22,636 24,578
Revolving Credit Facility    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs $ 2,800 $ 3,600
[1] Net of unamortized debt issuance costs of $3.9 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively.
[2] Unamortized debt issuance costs of $2.8 million and $3.6 million at December 31, 2023 and December 31, 2022, respectively, included in Other Non-Current Assets
v3.24.0.1
Debt (Details Textual) - USD ($)
shares in Thousands, $ in Thousands
1 Months Ended 3 Months Ended 4 Months Ended 11 Months Ended 12 Months Ended
Jan. 01, 2025
Feb. 21, 2024
Nov. 09, 2022
May 02, 2022
Mar. 01, 2021
Mar. 31, 2021
Oct. 31, 2018
Sep. 30, 2024
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Dec. 14, 2020
Dec. 13, 2020
Sep. 30, 2017
Debt Instrument [Line Items]                                  
Gain on debt extinguishment                     $ 3,437 $ 0 $ (9,173)        
Financing cash flows from finance leases                     24,505 31,316 $ 31,544        
Finance Lease Obligations                     $ 35,200            
Rochester Finance Lease | Line of Credit                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Face Amount                       $ 60,000          
Stated interest rate                     5.20%            
Senior Notes due 2029                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Face Amount           $ 375,000                      
Proceeds from debt           $ 367,500                      
Extinguishment of debt                     $ 76,000            
Converted shares (in shares)                     25,200            
Gain on debt extinguishment                     $ 3,400            
Senior Notes due Two Thousand Twenty Four                                  
Debt Instrument [Line Items]                                  
Stated interest rate                     5.125%            
Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity         $ 300,000   $ 250,000             $ 200,000 $ 300,000 $ 250,000 $ 200,000
Line of credit facility         $ 100,000   $ 50,000                    
Integration costs     $ 50,000                            
Cash on hand     $ 60,000                            
Letters of credit outstanding, amount                     $ 29,600            
Revolving Credit Facility | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Additional increases in RCF   $ 100,000                              
Non-capitalized underground mine development costs   15,000                              
Line of credit facility   10,000                              
Revolving Credit Facility | Forecast                                  
Debt Instrument [Line Items]                                  
Interest coverage ratio $ 15,000             $ 40,000 $ 30,000 $ 50,000              
Revolving Credit Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Stated interest rate                     9.20%            
Long-term debt                     $ 175,000            
Amount available subject to debt covenants                     $ 185,400            
Revolving Credit Facility | Credit Agreement | Line of Credit                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity       $ 390,000                          
Line of credit facility       $ 300,000                          
Revolving Credit Facility | Credit Agreement | Line of Credit | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Maximum borrowing capacity   $ 400,000                              
Minimum | Revolving Credit Facility | Base Rate [Member]                                  
Debt Instrument [Line Items]                                  
Basis rate                     1.00%            
Minimum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)                                  
Debt Instrument [Line Items]                                  
Basis rate                     2.00%            
Maximum | Revolving Credit Facility | Base Rate [Member]                                  
Debt Instrument [Line Items]                                  
Basis rate                     1.75%            
Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)                                  
Debt Instrument [Line Items]                                  
Basis rate                     2.75%            
v3.24.0.1
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Debt Disclosure [Abstract]      
Interest paid on Senior Notes due 2029 $ 17,288 $ 19,219 $ 16,016
Interest paid on Revolving Credit Facility 17,752 8,503 2,296
Finance Lease, Interest Expense 3,762 5,084 4,632
Amortization of Debt Issuance Costs 2,709 2,052 1,726
Interest Expense, Other 2,149 166 303
Interest Costs Capitalized Adjustment (14,561) (11,163) (11,113)
Interest Costs Incurred 29,099 23,861 16,451
Interest paid on Senior Notes due 2024 $ 0 $ 0 $ 2,591
v3.24.0.1
Reclamation (Details) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]      
Asset Retirement Obligation $ 214,013,000 $ 202,431,000 $ 181,888,000
Asset Retirement Obligation, Accretion Expense, Excluding Held for Sale Disposal Group. 16,405,000 14,232,000  
Additions and changes to estimates 991,000 13,001,000  
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property 0 (1,840,000)  
Asset Retirement Obligation, Liabilities Settled $ (5,814,000) $ (4,850,000)  
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum 7.20%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum 10.00%    
v3.24.0.1
Income and Mining Taxes - Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Examination [Line Items]      
United States, Income (loss) before tax $ (107,021) $ (107,477) $ (34,196)
Foreign, Income (loss) before tax (38,565) (44,028) (37,832)
Income (loss) before income and mining taxes (68,456) (63,449) 3,636
Tax (expense) benefit $ 35,156 $ 14,658 $ 34,958
v3.24.0.1
Income and Mining Taxes - Narrative (Details) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Operating loss carryforwards, domestic $ 623,100,000    
Operating loss carryforwards, state and local $ 465,600,000    
Expiration term 20 years    
Operating loss carryforwards subject to expiration $ 318,500,000    
Operating loss carryforwards not subject to expiration 304,600,000    
Unrecognized tax benefits 2,000 $ 4,000 $ 300,000
Unrecognized income tax liability 100,000    
Income-tax related interest and penalties 0 0 400,000
Tax (expense) benefit $ 35,156,000 $ 14,658,000 $ 34,958,000
v3.24.0.1
Income and Mining Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Income and mining tax (expense) benefit at statutory rate $ 14,376 $ 13,249 $ (764)
State tax provision from continuing operations 4,859 2,871 2,009
Change in valuation allowance (36,778) (36,670) (28,615)
Percentage depletion 5,649 3,538 4,968
Uncertain tax positions 6 655 920
U.S. and foreign permanent differences (3,056) 365 4,105
Foreign exchange rates 1,179 (145) (384)
Foreign inflation and indexing 3,077 2,897 (1,087)
Foreign tax rate differences (3,911) (4,994) (4,901)
Mining, foreign withholding, and other taxes (18,265) (11,070) (12,599)
Sale of non-core assets (1,322) 15,447 0
Other, net (970) (801) 1,390
Income and mining tax benefit (expense) $ 35,156 $ 14,658 $ 34,958
v3.24.0.1
Income and Mining Taxes - Income and Mining Tax (Expense) Benefit (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Examination [Line Items]      
Income and mining tax (expense) benefit $ (35,156) $ (14,658) $ (34,958)
Current Other Tax Expense (Benefit) 0 0 0
Deferred Other Tax Expense (Benefit) 0 0 0
United States      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) 981 (21) 25
Deferred Federal Income Tax Expense (Benefit) 305 215 (651)
United States — State mining taxes      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (7,047) (2,936) (5,691)
Deferred Federal Income Tax Expense (Benefit) (1,076) 5,558 1,037
United States — Foreign withholding tax      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (119) (300) (862)
Canada      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (848) (305) 0
Deferred Foreign Income Tax Expense (Benefit) 0 254 1,224
Mexico      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (30,222) (29,546) (31,175)
Deferred Foreign Income Tax Expense (Benefit) $ 2,870 $ 12,423 $ 1,135
v3.24.0.1
Income and Mining Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:    
Royalty and other long-term debt $ 0 $ 0
Deferred Tax Liabilities, Gross 0 0
Net operating loss carryforwards 302,114 282,776
Deferred Tax Assets, Mineral Properties 44,244 31,095
Property, plant, and equipment 12,068 12,562
Mining Royalty Tax 7,345 7,440
Capital loss carryforwards 5,167 1,784
Asset retirement obligation 45,155 44,413
Unrealized foreign currency loss and other 0 0
Accrued expenses 25,321 30,379
Tax credit carryforwards 14,506 16,167
Deferred Tax Assets, Other 11,566 3,914
Deferred Tax Assets, Gross 467,486 430,530
Valuation allowance (479,846) (444,989)
Deferred Tax Assets, Net of Valuation Allowance (12,360) (14,459)
Deferred Tax Liabilities, Net $ 12,360 $ 14,459
v3.24.0.1
Income and Mining Taxes - Valuation Allowance (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]    
Valuation allowance $ 479,846 $ 444,989
United States    
Income Tax Examination [Line Items]    
Valuation allowance 262,059 245,899
Canada    
Income Tax Examination [Line Items]    
Valuation allowance 194,727 178,310
Mexico    
Income Tax Examination [Line Items]    
Valuation allowance 723 441
New Zealand    
Income Tax Examination [Line Items]    
Valuation allowance 22,229 19,993
Other jurisdictions    
Income Tax Examination [Line Items]    
Valuation allowance $ 108 $ 346
v3.24.0.1
Income and Mining Taxes - Summary of Tax Credit Carryforwards (Details)
$ in Thousands
Dec. 31, 2023
USD ($)
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 1,145,927
Capital losses 0
Foreign tax credits 10,864
United States  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 623,108
Capital losses 0
Foreign tax credits 10,864
Canada  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 440,506
Mexico  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 1,998
New Zealand  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 79,886
Other jurisdictions  
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 429
v3.24.0.1
Income and Mining Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized Tax Benefits $ 2 $ 4 $ 295
Gross increase to current period tax positions 0 0  
Gross increase to prior period tax positions 1 24  
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations $ (3) $ (315)  
v3.24.0.1
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 8.4    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 7 months 6 days    
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 4.1    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 9 months 18 days    
Performance shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 4.3    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 4 months 24 days    
Annual Incentive Plan and Long Term Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation expense for stock based compensation awards $ 11.4 $ 10.0 $ 13.7
v3.24.0.1
Stock-Based Compensation - Summary of Grants Awarded (Details) - $ / shares
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 3,251,765 2,056,121 932,442
Grant date fair value of restricted stock $ 2.94 $ 4.07 $ 8.88
Performance shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 1,816,429 1,325,418 602,933
Grant date fair value of restricted stock $ 3.16 $ 4.53 $ 10.13
Performance shares | 2018 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 1,421    
Performance shares | 2019 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 175,828    
v3.24.0.1
Stock-Based Compensation - Restriced Stock Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 8.4      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 7 months 6 days      
Restricted stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted stock award vesting period 3 years      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 4.1      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 9 months 18 days      
Shares outstanding (in shares) 3,974,419 2,784,610 2,144,804 2,724,724
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 3.54 $ 5.05 $ 6.60 $ 5.26
Restricted stock 3,251,765 2,056,121 932,442  
Grant date fair value of restricted stock $ 2.94 $ 4.07 $ 8.88  
Vested (in shares) (1,381,246) (1,114,513) (1,179,857)  
Vested (in dollars per share) $ 5.09 $ 6.08 $ 5.53  
Canceled/Forfeited (in shares) (680,710) (301,802) (332,505)  
Canceled/Forfeited (in dollars per share) $ 3.66 $ 5.74 $ 5.83  
Performance shares        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 4.3      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 4 months 24 days      
Shares outstanding (in shares) 3,159,910 2,574,537 2,390,013 2,335,102
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 4.52 $ 5.26 $ 5.80 $ 4.83
Restricted stock 1,816,429 1,325,418 602,933  
Grant date fair value of restricted stock $ 3.16 $ 4.53 $ 10.13  
Vested (in shares) (566,891) (824,064) (143,312)  
Vested (in dollars per share) $ 4.00 $ 5.54 $ 7.39  
Canceled/Forfeited (in shares) (664,165) (316,830) (404,710)  
Canceled/Forfeited (in dollars per share) $ 4.32 $ 6.11 $ 6.12  
Performance shares | 2018 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 1,421      
Canceled/Forfeited (in shares) (141,894)      
Performance shares | 2019 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 175,828      
Performance shares | 2020 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 26,200      
Canceled/Forfeited (in shares) (468,393)      
v3.24.0.1
Stock-Based Compensation - Share Appreciation Rights (Details) - $ / shares
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]        
Stock options outstanding (in shares) 54,330 93,988 131,253 222,273
Stock options outstanding (in dollars per share) $ 7.49 $ 14.41 $ 16.91 $ 15.44
Stock options granted (in shares)     (57,721)  
Stock options granted (in dollars per share)     $ 7.74  
Stock options exercised (in shares) 0 (5,598) (16,455)  
Stock options exercised (in dollars per share) $ 0 $ 11.88 $ 18.45  
Stock options expired (in shares) (39,658) (31,667) (16,844)  
Stock options expired (in dollars per share) $ 23.90 $ 25.19 $ 27.45  
v3.24.0.1
Stock-Based Compensation - Outstanding Stock Options (Details) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Options exercises in period, intrinsic value $ 0    
Proceeds from stock options exercised 0    
Options, vested in period, fair value $ 0 $ 0 $ 0
Outstanding, shares 54,330    
Outstanding (in dollars per share) $ 7.49    
Outstanding, remaining term 2 years 4 months 24 days    
Outstanding, intrinsic value $ 0    
Vested and expected to vest, shares 54,330    
Vested and expected to vest (in dollars per share) $ 7.49    
Vested and expected to vest, remaining term 2 years 4 months 24 days    
Vested and expected to vest, intrinsic value $ 0    
Exercisable, shares 54,330    
Exercisable (in dollars per share) $ 7.49    
Exercisable, remaining term 2 years 4 months 24 days    
Exercisable, intrinsic value $ 0    
Zero to Ten Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 54,330    
Outstanding (in dollars per share) $ 7.49    
Outstanding, remaining term 2 years 4 months 24 days    
Ten Dollars to Twenty Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 0    
Outstanding (in dollars per share) $ 0    
Outstanding, remaining term 0 years    
Twenty Dollars to Thirty Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 0    
Outstanding (in dollars per share) $ 0    
Outstanding, remaining term 0 years    
v3.24.0.1
Fair Value Measurements - Summary of Gain (Loss) Derivative Instruments (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value adjustments, net $ 3,384 $ (66,668) $ (543)
Unrealized gain (loss) on equity securities 3,384 (63,529) (10,476)
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net 0 0 9,933
Termination of gold zero cost collars $ 0 $ (3,139) $ 0
v3.24.0.1
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets:    
Equity securities $ 0 $ 44,152
Fair Value, Recurring    
Assets:    
Assets 3,630 56,794
Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   299
Liabilities:    
Fair value of derivative liability   10
Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   12,343
Liabilities:    
Fair value of derivative liability 1,981  
SIlver Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 3,312  
Equity Securities | Fair Value, Recurring    
Liabilities:    
Marketable securities including warrants   44,152
Level 1 | Fair Value, Recurring    
Assets:    
Assets 0 43,893
Level 1 | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   0
Liabilities:    
Fair value of derivative liability   0
Level 1 | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   0
Liabilities:    
Fair value of derivative liability 0  
Level 1 | SIlver Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 0  
Level 1 | Equity Securities | Fair Value, Recurring    
Liabilities:    
Marketable securities including warrants   43,893
Level 2 | Fair Value, Recurring    
Assets:    
Assets 3,630 12,901
Level 2 | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   299
Liabilities:    
Fair value of derivative liability   10
Level 2 | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   12,343
Liabilities:    
Fair value of derivative liability 1,981  
Level 2 | SIlver Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 3,312  
Level 2 | Equity Securities | Fair Value, Recurring    
Liabilities:    
Marketable securities including warrants   259
Level 3   | Fair Value, Recurring    
Assets:    
Assets 0 0
Level 3   | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   0
Liabilities:    
Fair value of derivative liability   0
Level 3   | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net   0
Liabilities:    
Fair value of derivative liability 0  
Level 3   | SIlver Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net $ 0  
Level 3   | Equity Securities | Fair Value, Recurring    
Liabilities:    
Marketable securities including warrants   $ 0
v3.24.0.1
Fair Value Measurements - Summary of Assets and Liabilities Carried at Book Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt $ 522,674 $ 491,355
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt [1] 175,000 80,000
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Book value 295,115 369,212
Debt [2] 295,115 369,212
Reported Value Measurement | Deferred cash consideration    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   7,677
Reported Value Measurement | Notes Receivable [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   4,926
Estimate of Fair Value Measurement | Deferred cash consideration    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   7,317
Estimate of Fair Value Measurement | Notes Receivable [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   4,579
Estimate of Fair Value Measurement | Level 1 | Deferred cash consideration    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   0
Estimate of Fair Value Measurement | Level 1 | Notes Receivable [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   0
Estimate of Fair Value Measurement | Level 2 | Deferred cash consideration    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   7,317
Estimate of Fair Value Measurement | Level 2 | Notes Receivable [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   4,579
Estimate of Fair Value Measurement | Level 3   | Deferred cash consideration    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   0
Estimate of Fair Value Measurement | Level 3   | Notes Receivable [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Receivables, fair value disclosure   0
Portion at Other than Fair Value Measurement | Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 175,000 80,000
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 175,000 80,000
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 271,272 291,924
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 271,272 291,924
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs 3,900 5,800
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs $ 2,800 $ 3,600
[1] Unamortized debt issuance costs of $2.8 million and $3.6 million at December 31, 2023 and December 31, 2022, respectively, included in Other Non-Current Assets
[2] Net of unamortized debt issuance costs of $3.9 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively.
v3.24.0.1
Fair Value Measurements - Narrative (Details)
1 Months Ended 12 Months Ended
Oct. 27, 2021
USD ($)
royalty
$ / oz
May 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
$ / oz
Sep. 18, 2022
USD ($)
oz
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Contingent consideration asset fair value disclosure     $ 13,000,000  
Cash consideration   $ 7,000,000    
Deferred consideration   1,000,000    
Loss on sale   $ 12,300,000    
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]   Other, net    
Fair value of cash consideration   $ 800,000    
Measurement Input, Silver Price Volatility        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Disposal group, consideration, measurement input     0.335  
Measurement Input, Gold Price Volatility        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Disposal group, consideration, measurement input     0.190  
Measurement Input, Weighted Average Cost of Capital        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Disposal group, consideration, measurement input     0.155  
Minimum        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Assumed silver price (US Dollars per ounce) | $ / oz     22  
Assumed gold price (US Dollars per ounce) | $ / oz     1,700  
Contingent Consideration Asset, Measurement Input     5 years  
Maximum        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Assumed silver price (US Dollars per ounce) | $ / oz     25  
Assumed gold price (US Dollars per ounce) | $ / oz     1,930  
Contingent Consideration Asset, Measurement Input     30 years  
Fair Value, Nonrecurring        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Royalties receivable fair value disclosure $ 11,200,000      
Contingent consideration asset fair value disclosure $ 1,200,000      
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2      
Discontinued Operations, Disposed of by Sale | La Preciosa [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Disposal group, including discontinued operation, contingent consideration, payments per silver equivalent | $ / oz 0.25      
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2      
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum $ 50,000,000      
Cash consideration $ 15,300,000      
Held-for-sale | AngloGold Ashanti        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Contingent consideration liability       $ 50,000,000
Gold ounces threshold for contingent consideration | oz       3,500,000
Cash consideration       $ 150,200,000
Held-for-sale | AngloGold Ashanti | Measurement Input, Discount Rate        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Disposal group, consideration, measurement input       0.081
Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Discontinued operation, consideration, royalties on properties 1.25%      
Areas Other Than Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Discontinued operation, consideration, royalties on properties 2.00%      
v3.24.0.1
Derivative Financial Instruments - Summary of Provisionally Priced Sales (Details) - Gold concentrates sales agreements
$ in Thousands
Dec. 31, 2023
USD ($)
oz
$ / oz
2024  
Derivative instruments Settlement  
Derivative average price | $ / oz 2,032
Notional Amount Derivative | $ $ 31,570
Outstanding Provisionally Priced Sales Consists of Gold | oz 15,537
2025 and Thereafter  
Derivative instruments Settlement  
Derivative average price | $ / oz 0
Notional Amount Derivative | $ $ 0
Outstanding Provisionally Priced Sales Consists of Gold | oz 0
v3.24.0.1
Derivative Financial Instruments - Summary of Classification of Fair Value of Derivative Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Recurring    
Fair value of the derivative instruments    
Assets $ 3,630 $ 56,794
Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Assets 0 43,893
Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Assets 3,630 12,901
Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Assets 0 0
Silver and Gold Concentrate Sales Agreements | Prepaid expenses and other    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 318 299
Silver and Gold Concentrate Sales Agreements | Accrued liabilities and other    
Fair value of the derivative instruments    
Fair Value of Derivative Liability   10
Provisional metal sales contracts | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 318  
Fair value of derivative asset   299
Fair value of derivative liability   10
Provisional metal sales contracts | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0  
Fair value of derivative asset   0
Fair value of derivative liability   0
Provisional metal sales contracts | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 318  
Fair value of derivative asset   299
Fair value of derivative liability   10
Provisional metal sales contracts | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0  
Fair value of derivative asset   0
Fair value of derivative liability   0
SIlver Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset 3,312  
SIlver Forwards | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Fair value of derivative asset 0  
SIlver Forwards | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Fair value of derivative asset 3,312  
SIlver Forwards | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Fair value of derivative asset 0  
Gold Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   12,343
Fair value of derivative liability 1,981  
Gold Forwards | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Fair value of derivative asset   0
Fair value of derivative liability 0  
Gold Forwards | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Fair value of derivative asset   12,343
Fair value of derivative liability 1,981  
Gold Forwards | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Fair value of derivative asset   $ 0
Fair value of derivative liability $ 0  
v3.24.0.1
Derivative Financial Instruments - Summary of Mark-to-Market Gain (Losses) on Derivative Instruments (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Provisional gain (loss) on derivatives and commodity contracts $ 30 $ 365 $ (490)
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net 0 0 9,933
Termination of gold zero cost collars 0 3,139 0
Fair value adjustments, net $ 30 $ (2,774) $ 9,443
v3.24.0.1
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative [Line Items]      
Provisional gain (loss) on derivatives and commodity contracts $ 30 $ 365 $ (490)
Unrealized gain (loss) on hedger, net of tax (318) 37,445 22,783
Termination of gold zero cost collars 0 $ 3,139 $ 0
Designated as Hedging Instrument | Gold Forwards      
Derivative [Line Items]      
After tax gains in AOCI 1,300    
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months 1,300    
Designated as Hedging Instrument | Gold zero cost collars      
Derivative [Line Items]      
Unrealized gain (loss) on hedger, net of tax 7,700    
Termination of gold zero cost collars 3,100    
Termination of zero gold cost collars recorded to other comprehensive income (loss) $ 4,600    
v3.24.0.1
Derivative Financial Instruments - Summary of Classification of Fair Value on Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Gold Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0 $ 12,343
Gold Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
10000   0
Gold Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 0 $ 0
SIlver Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 3,312  
SIlver Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
10000 0  
SIlver Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0  
v3.24.0.1
Derivative Financial Instruments - Summary of Derivative Cash Flow Hedges (Details) - Designated as Hedging Instrument
12 Months Ended
Dec. 31, 2023
oz
$ / oz
Gold Forwards - 2022  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 2,076
Notional ounces | oz 94,950
Gold Forwards - 2023 and Thereafter  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 0
Notional ounces | oz 0
Silver Forwards - 2023  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 25.16
Notional ounces | oz 3,099,999
Silver Forwards - 2024 and Thereafter  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 0
Notional ounces | oz 0
v3.24.0.1
Derivative Financial Instruments - Summary of Pre-tax Gains (Losses) On Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: $ (318) $ 37,445 $ 22,783
Gains (losses) reclassified from AOCI into net income - effective portion: (10,694) (23,890) (12,859)
Gold Forwards      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: (10,627) 42,043 0
Gains (losses) reclassified from AOCI into net income - effective portion: (3,697) (28,488) 0
SIlver Forwards      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 10,309 0 0
Gains (losses) reclassified from AOCI into net income - effective portion: (6,997) 0 0
Gold zero cost collars      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 0 (4,598) 22,733
Gains (losses) reclassified from AOCI into net income - effective portion: 0 4,598 938
Foreign Exchange Forward      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 0 0 50
Gains (losses) reclassified from AOCI into net income - effective portion: $ 0 $ 0 $ (13,797)
v3.24.0.1
Additional Comprehensive Income (Loss) Detail - Summary of Pre-development, reclamation and other (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Other Income and Expenses [Abstract]      
Covid-19 Related Costs $ 111 $ 1,739 $ 6,618
Care and maintenance costs 15,616 20,963 24,928
(Gain) loss on sale of assets 12,879 (640) (4,111)
Accretion 16,405 14,232 11,988
Other Operating Income (Expense), Net 9,625 4,353 5,144
Pre-development, reclamation, and other $ 54,636 $ 40,647 $ 44,567
v3.24.0.1
Additional Comprehensive Income (Loss) Detail - Summary of Other Non-Operating (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Other Income and Expenses [Abstract]      
Foreign exchange gain (loss) $ (459) $ (850) $ (2,779)
Gain (loss) on dispositions(1) (12,318) 63,789 0
value added tax write-down 0 0 (25,982)
Gain (Loss) Related to Litigation Settlement 1,516 1,651 0
Interest Income, Other 3,798 1,741 1,725
Other, net [1] $ (7,463) $ 66,331 $ (27,036)
[1] See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail
v3.24.0.1
Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Sep. 13, 2023
Mar. 17, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jul. 20, 2023
Jun. 21, 2023
Earnings Per Share (Textual) [Abstract]              
Number of antidilutive shares of common stock equivalents     1,777,273 952,664 634,419    
Common stock, shares issued (in shares)     386,282,957 295,697,624   3,000,000 5,276,154
Common stock, par value (in dollars per share) $ 0.01   $ 0.01 $ 0.01     $ 0.01
Common stock issued for investment (in shares) 21,699,856 32,861,580          
Net Income (Loss) Attributable to Coeur Stockholders              
NET INCOME (LOSS)     $ (103,612) $ (78,107) $ (31,322)    
Weighted Average Number of Shares Outstanding              
Weighted Average Number of Shares Outstanding, Basic     343,059,000 275,178,000 250,044,000    
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements     0 0 0    
Weighted Average Number of Shares Outstanding, Diluted     343,059,000 275,178,000 250,044,000    
Basic EPS              
Earnings Per Share, Basic     $ (0.30) $ (0.28) $ (0.13)    
Diluted EPS              
Earnings Per Share, Diluted     $ (0.30) $ (0.28) $ (0.13)    
Private Placement              
Earnings Per Share (Textual) [Abstract]              
Proceeds from (Repurchase of) Equity     $ 18,200        
Proceeds from repurchase     5,100        
Over-Allotment Option              
Earnings Per Share (Textual) [Abstract]              
Proceeds from (Repurchase of) Equity     10,500        
Proceeds from repurchase     $ 2,700        
v3.24.0.1
Net Income (Loss) Per Share - Summary of Common Stock Issuance (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Sep. 13, 2023
Mar. 17, 2023
Dec. 31, 2023
Jun. 21, 2023
Dec. 31, 2022
Subsidiary, Sale of Stock [Line Items]          
Aggregate net proceeds from stock offering $ 49.3 $ 98.4      
Common stock, par value (in dollars per share) $ 0.01   $ 0.01 $ 0.01 $ 0.01
Price per share $ 2.30 $ 3.04      
Aggregate Value of ATM Program $ 50.0 $ 100.0      
Private Placement          
Subsidiary, Sale of Stock [Line Items]          
Proceeds from repurchase     $ 5.1    
Flow-through share premium liability gain recognition     2.3    
Flow-through share liability balance     $ 5.5    
v3.24.0.1
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]    
Current assets $ 267,255 $ 300,432
Current liabilities 289,613 219,360
Non-current liabilities 767,332 737,767
Coeur Mining, Inc.    
Condensed Financial Statements, Captions [Line Items]    
Current assets 19,850 73,692
Non-current assets(1) [1] 393,773 445,778
Non-guarantor intercompany assets 0 4,391
Current liabilities 27,836 19,842
Non-current liabilities 478,488 457,195
Non-guarantor intercompany liabilities 6,033 58,257
Guarantor Subsidiaries    
Condensed Financial Statements, Captions [Line Items]    
Current assets 143,170 137,432
Non-current assets(1) [1] 1,286,135 991,213
Non-guarantor intercompany assets 0 0
Current liabilities 198,262 136,788
Non-current liabilities 203,405 193,024
Non-guarantor intercompany liabilities $ 1,591 $ 1,594
[1] Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
v3.24.0.1
Supplemental Guarantor Information Condensed Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]      
Revenue $ 821,206 $ 785,636 $ 832,828
Net income (loss) (103,612) $ (78,107) $ (31,322)
Coeur Mining, Inc.      
Condensed Financial Statements, Captions [Line Items]      
Revenue 0    
Gross Profit (1,104)    
Net income (loss) (103,612)    
Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Revenue 507,998    
Gross Profit 10,422    
Net income (loss) $ (44,819)    
v3.24.0.1
Commitments and Contigencies (Details Textual)
12 Months Ended
Nov. 20, 2023
oz
$ / oz
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Nov. 30, 2023
USD ($)
Dec. 31, 2020
USD ($)
Oct. 02, 2014
USD ($)
Business Acquisition [Line Items]              
Revenue Recognized   $ 25,468,000 $ 15,887,000 $ 16,226,000      
Capital expenditures incurred but not yet paid   44,966,000 33,688,000 40,904,000      
Valued-added Tax Outstanding   31,200,000          
Inflation adjusted royalty payment | $ / oz 25            
Surety Bonds Outstanding   324,800,000 326,800,000        
Mining Concessions Purchase Agreement Member              
Business Acquisition [Line Items]              
Cash payment at closing         $ 10,000,000    
Cash payment 12 months after closing         10,000,000    
Cash payment 24 months after closing         5,000,000    
Total Consideration         $ 25,000,000    
Minimum              
Business Acquisition [Line Items]              
Amount of gold equivalent ounces discovered | oz 450,000            
Maximum              
Business Acquisition [Line Items]              
Amount of gold equivalent ounces discovered | oz 2,000,000,000,000            
Palmarejo gold production royalty              
Business Acquisition [Line Items]              
Production to be sold, percent             50.00%
Price per ounce under agreement             $ 800
Aggregate deposit to be received             $ 22,000,000
Kensington              
Business Acquisition [Line Items]              
Revenue Recognized   (100,000,000) (26,020,000) (30,000,000)      
Revenue liability   55,082,000 25,016,000 $ 15,016,000   $ 15,003,000  
Kensington | December 2022 Prepayment              
Business Acquisition [Line Items]              
Revenue liability     $ 25,000,000        
Kensington | June 2023 Prepayment              
Business Acquisition [Line Items]              
Revenue liability   25,000,000          
Wharf Gold Mine | June 2023 Prepayment              
Business Acquisition [Line Items]              
Revenue liability   10,000,000          
Rochester | June 2023 Prepayment              
Business Acquisition [Line Items]              
Revenue liability   10,000,000          
Rochester | September 2023 Prepayment              
Business Acquisition [Line Items]              
Revenue liability   17,500,000          
Wharf | September 2023 Prepayment              
Business Acquisition [Line Items]              
Revenue liability   $ 12,500,000          
v3.24.0.1
Commitments and Contingencies - Contract Liability (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Acquisition [Line Items]      
Revenue Recognized $ 25,468 $ 15,887 $ 16,226
Franco-Nevada      
Business Acquisition [Line Items]      
Opening Balance 7,411 8,150 9,376
Revenue Recognized (469) (739) (1,226)
Closing Balance 6,942 7,411 8,150
Kensington      
Business Acquisition [Line Items]      
Opening Balance 25,016 15,016 15,003
Additions 130,066 36,020 30,013
Revenue Recognized (100,000) (26,020) (30,000)
Closing Balance 55,082 $ 25,016 $ 15,016
Kensington | December 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 25,000    
Kensington | June 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 25,000    
Wharf | September 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 12,500    
Wharf | December 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 12,500    
Rochester | September 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 17,500    
Rochester | December 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 17,500    
Rochester | June 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance $ 10,000    
v3.24.0.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]    
Other Accrued Liabilities $ 11,081 $ 6,241
Unrealized Gain (Loss) on Derivatives 1,981 10
Accrued Income Taxes, Current 11,766 7,874
Accrual for Taxes Other than Income Taxes, Current 5,321 3,318
Interest Payable, Current 7,957 8,256
Operating Lease, Liability, Current 9,975 11,560
Accrued Salaries, Current 31,722 29,868
Flow-through share premium received (including over-allotment) 5,563 0
Deferred Revenue [1] 55,547 25,736
Accrued liabilities and other $ 140,913 $ 92,863
[1] See Note 18 -- Commitments and Contingencies for additional details on deferred revenue liabilities.
v3.24.0.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]        
Cash and Cash Equivalents $ 61,633 $ 61,464    
Restricted Cash Equivalents 1,745 1,705    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 63,378 $ 63,169 $ 58,289 $ 94,170
v3.24.0.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 2) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]      
Non-cash lease obligations arising from obtaining operating lease assets $ 718 $ 4,120 $ 1,197
Finance lease obligations 32,978 43,810 37,860
Capital expenditures, not yet paid 44,966 33,688 40,904
Debt for equity exchange 76,018 0 0
Non-cash acquisition of Victoria Gold Corp common stock 0 0 118,777
Interest paid 41,249 32,704 19,655
Income and mining taxes paid $ 35,000 $ 41,600 $ 57,200
v3.24.0.1
Disposals (Details)
1 Months Ended 12 Months Ended
Oct. 27, 2021
USD ($)
royalty
$ / shares
$ / oz
shares
May 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Sep. 18, 2022
USD ($)
oz
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Cash consideration   $ 7,000,000        
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax     $ 0 $ 62,249,000 $ 0  
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]     Other, net      
Disposal Group, Including Discontinued Operation, Deferred Consideration   1,000,000        
Loss on sale   $ 12,300,000        
Fair Value, Nonrecurring            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Royalties receivable fair value disclosure $ 11,200,000          
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2          
AngloGold Ashanti | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax     $ 62,200,000      
AngloGold Ashanti | Held-for-sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Ownership percentage           1
Cash consideration           $ 150,200,000
Gold ounces threshold for contingent consideration | oz           3,500,000
Contingent consideration liability           $ 50,000,000
La Preciosa [Member] | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Cash consideration $ 15,300,000          
Disposal Group, Including Discontinued Operation, Consideration, Note Receivable $ 5,000,000          
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 14,000,000          
Disposal group, including discontinued operation, contingent consideration, payments per silver equivalent | $ / oz 0.25          
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum $ 50,000,000          
Disposal Group, Including Discontinued Operation, Deferred Cash Consideration 8,800,000          
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax     $ 1,500,000      
Disposal Group, Including Discontinued Operation, Consideration, Not Receivable, Carrying Amount 4,700,000          
Disposal Group, Including Discontinued Operation, Deferred Cash Consideration, Carrying Value 7,400,000          
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum, Carrying Value $ 1,200,000          
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2          
La Preciosa [Member] | Common Stock | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 13,700,000          
Disposal Group, Including Discontinued Operation, Equity Consideration, Shares | shares 1          
La Preciosa [Member] | Common Share Purchase Warrant | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 2,200,000          
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares $ 1.09          
Gloria And Abundancia | La Preciosa [Member] | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Discontinued operation, consideration, royalties on properties 1.25%          
Areas Other Than Gloria And Abundancia | La Preciosa [Member] | Discontinued Operations, Disposed of by Sale            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Discontinued operation, consideration, royalties on properties 2.00%