Coeur Mining, Inc. (NYSE:CDE) Q1 2022 Earnings Conference Call May 5, 2022 11:00 AM ET
Company Participants
Mitchell Krebs – Chief Executive Officer
Mick Routledge – Senior Vice President and Chief Operating Officer
Tom Whelan – Senior Vice President and Chief Financial Officer
Conference Call Participants
Trevor Turnbull – Scotiabank
Ryan Thompson – BMO
Carl Landon – Goldman Sachs
Mark Reichman – Noble Capital Markets
Operator
Good day, and welcome to the Coeur Mining First Quarter 2022 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Mitchell Krebs, Chief Executive Officer. Please go ahead.
Mitchell Krebs
Good morning, and thank you for joining our first quarter 2022 earnings call. Joining me here are Mick Routledge; and Tom Whelan, along with other members of our team.
Before I begin, please note our cautionary language on forward-looking statements in our slide deck and refer to our SEC filings, which are available on our website. Our first quarter results were in line with expectations and position us to achieve our full year production and cost guidance ranges as we look to deliver sequential production growth over the remainder of 2022. Palmarejo and Wharf led the way with solid starts to the year offset by slower starts at Kensington and Rochester.
As those who follow the sector are keenly aware, lingering effects from COVID and inflationary pressures were two key themes during the quarter. However, COVID-related disruptions appear to be dissipating and we’re managing our way through the supply chain shortages, disruptions and higher cost environment through our commitment to continuous business improvement initiatives at each of our operations. Both Mick and Tom will go into more detail on operating costs.
We provided an update on several important steps we’ve taken to materially bolster our liquidity levels to support the ongoing Rochester expansion, which Tom will detail shortly. The expansion is gaining momentum and advancing according to plan. You can see from the photos on Slides 10 and 11 that the key elements of the project are quickly coming together. Mick will provide a more detailed update in a couple of minutes.
On the exploration front, we provided another update last week, this time highlighting new high grade intercepts that are Kensington and Palmarejo operations that point to future potential mine life additions. Meanwhile, the exploration team at Silvertip hit the ground running this year after delivering strong double-digit resource growth last year with several additional high grade intercepts, including a new discovery called Camp Creek West that is opening up even greater possibilities at this emerging world-class deposit.