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Inside the Silver Boom: Coeur's CEO Mitch Krebs on Cash Flow Exploding & the Forces Fueling Silver

Oct 28, 2025
Mitch Krebs, CEO of Coeur Mining, shares insights from his 14-year tenure transforming the company into a North America-focused silver and gold powerhouse. He discusses the booming silver demand driven by electrification and AI, contrasted with underinvestment and mine depletion. Krebs highlights the $730 million Rochester expansion, making it the largest U.S. refined silver source, and reveals plans for a $75 million share buyback. He emphasizes the early stage of a silver bull market and the company's strategic growth plans at mines like Las Chispas.
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INSIGHT

North America-Focused Production Hub

  • Coeur produces ~20 million oz/year and is a top-five global producer concentrated entirely in North America.
  • The Rochester expansion made it the largest U.S. source of refined silver and a multi-decade cash-flow engine.
INSIGHT

Balanced Silver-Gold Mix

  • Coeur aims to remain meaningfully exposed to silver while balancing gold to reduce earnings volatility.
  • Management targets silver between ~20% and 50% of revenue to preserve stability and investor exposure.
ANECDOTE

Smooth Las Chispas Integration

  • The Silvercrest (Las Chispas) integration closed in February and management kept nearly the entire operating team.
  • High grades and aligned culture produced smoother-than-expected integration and stronger-than-modeled earnings.
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