Coeur Mining, Inc. Research Report

On September 23, 2013, Coeur Mining, Inc. (Coeur), previously known as Coeur d'Alene Mines Corporation, announced that the estimated contained ounces of proven and probable reserves totaled 86 million of silver ounces and 605,000 of gold ounces, representing a YTD growth of 91.5% and 96.4%, respectively, at its Rochester mine in Nevada. Coeur stated that the reserves do not reflect 2013 mine production, depletion of reserves or exploration or drilling conducted during 2013. Mitchell J. Krebs, Coeur's President and CEO, commented, "We expect to further increase in-situ and stockpile reserves and resources at Rochester at year end as a result of our 2013 drilling program. Rochester represents a unique and attractive source of growth for our stockholders with relatively minimal capital requirements, high expected returns, an attractive jurisdiction, and lower execution risk given its operating history of more than 25 years."