Coeur Mining Sells La Preciosa Project for $10M

TL;DR

Coeur Mining selling La Preciosa project to Endeavour Silver for $10M cash. Focus on core assets.

AI Summary

Coeur Mining, Inc. announced on May 14, 2024, that it has entered into a definitive agreement to sell its 100% interest in the La Preciosa project located in Mexico to a subsidiary of Endeavour Silver Corp. for $10 million in cash. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This divestiture allows Coeur Mining to focus on its core assets and improve its balance sheet, while Endeavour Silver Corp. expands its portfolio with a promising silver project.

Risk Assessment

Risk Level: medium — The sale is subject to customary closing conditions, and there's always a risk of unforeseen issues arising during the transaction process.

Key Numbers

• $10 million — Sale Price (Cash consideration for the La Preciosa project)

Key Players & Entities

• Coeur Mining, Inc. (company) — Seller
• La Preciosa project (project) — Asset being sold
• Mexico (location) — Location of the project
• Endeavour Silver Corp. (company) — Buyer
• $10 million (dollar_amount) — Sale price
• May 14, 2024 (date) — Announcement date
• third quarter of 2024 (date) — Expected closing period

FAQ

Filing Documents

• cde-20240514.htm (8-K) — 48KB
• 0000215466-24-000086.txt ( ) — 177KB
• cde-20240514.xsd (EX-101.SCH) — 2KB
• cde-20240514_lab.xml (EX-101.LAB) — 23KB
• cde-20240514_pre.xml (EX-101.PRE) — 13KB
• cde-20240514_htm.xml (XML) — 3KB

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. Coeur held its 2024 Annual Stockholders' Meeting on May 14, 2024 (the "Annual Meeting"). Coeur's stockholders voted on the following three proposals at the Annual Meeting. The number of votes cast for and against each proposal and the number of abstentions and broker non-votes are set forth below. Proposal 1. Election of Directors. The stockholders elected the following nine individuals to Coeur's Board of Directors for one-year terms expiring at the 2025 Annual Stockholders' Meeting. The voting results were as follows: For Against Abstain Approval Percentage (1) Linda L. Adamany 223,589,674 5,593,369 413,946 97.56% Paramita Das 227,606,146 1,537,854 452,989 99.33% Randolph E. Gress 212,200,917 16,970,720 425,352 92.59% Jeane L. Hull 227,124,928 2,058,939 413,122 99.10% Robert Krcmarov 227,525,379 1,617,535 454,075 99.29% Mitchell J. Krebs 227,135,557 2,003,218 458,214 99.13% Eduardo Luna 228,032,773 1,147,677 416,539 99.50% Robert E. Mellor 200,977,004 28,208,850 411,135 87.69% J. Kenneth Thompson 209,647,731 19,532,312 416,946 91.48% Broker Non-Votes: 47,065,439 Proposal 2. Ratification of Appointment of Independent Registered Public Accounting Firm. The stockholders ratified the appointment of Grant Thornton LLP as Coeur's independent registered public accounting firm for the 2024 fiscal year. The voting results were as follows: For Against Abstain Broker Non-Votes Approval Percentage (1) 274,238,527 1,602,819 821,082 — 99.42% Proposal 3. Approval of Advisory Resolution on Named Executive Officer Compensation. The stockholders approved an advisory resolution on named executive officer compensation. The voting results were as follows: For Against Abstain Broker Non-Votes Approval Percentage (1) 221,226,932 7,633,133 736,924 47,065,439 96.66% _____________________________________________________ (1) Percentage of votes cast for the nominee or proposal (excluding absten

01. Other Events

Item 8.01. Other Events. Following the Annual Meeting, the Board and Nominating and Corporate Governance Committee reviewed the structure of the Board and Company leadership as part of its annual review of the Board succession planning process, and, upon the recommendation of the Nominating and Corporate Governance Committee, the Board determined that, given the significant tenure of the Company's President and Chief Executive Officer, it was in the best interest of the Company to elect Mitchell J. Krebs as the Chairperson of the Board in addition to his role as President and Chief Executive Officer. In addition, pursuant to the Company's corporate governance guidelines (the "Guidelines"), the independent directors of the Board simultaneously designated J. Kenneth Thompson to serve as the independent Lead Director of the Board. In accordance with the Guidelines, the Lead Director's responsibilities and powers include: presiding at all meetings of the Board at which the Chairperson is not present, and each executive session of the non-management members and/or independent directors of the Board; serving as liaison between the Chairperson and the independent directors; approving information sent to the Board; approving meeting agendas for the Board; approving meeting schedules to assure sufficient time for discussion of all agenda items; having the authority to call meetings of the independent directors; and if requested by major stockholders, ensuring that he or she is available for consultation and direct communication.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) List of Exhibits Exhibit No. Description 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. Exhibit Index Exhibit No. Description 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COEUR MINING, INC. Date: May 16, 2024 By: /s/ Casey M. Nault Name: Casey M. Nault Title: Senior Vice President, General Counsel and Chief ESG Officer

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View this 8-K filing on SEC EDGAR