Coeur Completes Sale of Southern Nevada Holdings for Upfront Cash Consideration of $150 million
04 Novembro 2022 - 10:35AM
Business Wire
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
announced the closing of the transaction to sell its Crown and
Sterling holdings (“Crown Sterling”) to a subsidiary of AngloGold
Ashanti Limited (“AngloGold”) (NYSE: AU). Under the terms of the
previously announced transaction, Coeur received cash consideration
of $150 million at closing. The Company will receive an additional
deferred cash consideration of $50 million upon Crown Sterling
attaining a total resource of at least 3.5 million gold ounces. The
Crown Sterling holdings comprise approximately 35,500 net acres and
are located adjacent to AngloGold’s existing gold projects in Nye
County, Nevada.
The sale of Crown Sterling is consistent with Coeur’s strategy
of monetizing non-core assets and prioritizing high-return growth
from its North American asset portfolio, including the expansion
project at the Rochester mine in Nevada, which is expected to be
completed mid-next year.
Gibson, Dunn & Crutcher LLP acted as legal counsel to
Coeur.
About Coeur
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing
precious metals producer with four wholly-owned operations: the
Palmarejo gold-silver complex in Mexico, the Rochester silver-gold
mine in Nevada, the Kensington gold mine in Alaska and the Wharf
gold mine in South Dakota. In addition, The Company wholly-owns the
Silvertip silver-zinc-lead development project in British Columbia
and has interests in several precious metals exploration projects
throughout North America.
Cautionary Statements
This news release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding the sale of Crown Sterling
(including anticipated deferred consideration) and the Company’s
Rochester expansion project. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, the risk that the
transaction does not close on a timely basis or at all, the risk
that anticipated deferred consideration does not become payable,
the risks and hazards inherent in the mining business (including
risks inherent in developing large-scale mining projects,
environmental hazards, industrial accidents, weather or
geologically-related conditions), changes in the market price of
gold and a sustained lower price or higher treatment and refining
charge environment, risks relating to permitting and regulatory
delays (including the impact of government shutdowns), ground
conditions, grade and recovery variability, any future labor
disputes or work stoppages (involving the Company and its
subsidiaries or third parties), the uncertainties inherent in the
estimation of mineral reserves or mineral resources, the potential
effects of the COVID-19 pandemic, including impacts to workforce,
materials and equipment availability, inflationary pressures,
continued access to financing sources, government orders that may
require temporary suspension of operations and effects on suppliers
or the refiners and smelters, the effects of environmental and
other governmental regulations and government shut-downs, the risks
inherent in the ownership or operation of or investment in mining
properties or businesses in foreign countries, as well as other
uncertainties and risk factors set out in filings made from time to
time with the United States Securities and Exchange Commission, and
the Canadian securities regulators, including, without limitation,
Coeur’s most recent reports on Form 10-K and Form 10-Q. Actual
results, developments and timetables could vary significantly from
the estimates presented. Readers are cautioned not to put undue
reliance on forward-looking statements. Coeur disclaims any intent
or obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Coeur undertakes no obligation to comment on
analyses, expectations or statements made by third parties in
respect of Coeur, its financial or operating results or its
securities. This does not constitute an offer of any securities for
sale.
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version on businesswire.com: https://www.businesswire.com/news/home/20221104005389/en/
Coeur Mining, Inc. Attention: Jeff Wilhoit, Director, Investor
Relations Phone: (312) 489-5800 www.coeur.com
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