Operations
Coeur Mines

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Cash Operating Costs – Fourth Quarter of 2011

(In thousands except ounces and per ounce costs) Palmarejo San Bartolomé Kensington Rochester Martha Endeavor Total
Total Cash Operating Cost (Non-U.S. GAAP) $(5,730) $18,332 $24,035 $14,191 $4,386 $1,647 $56,861
Royalties - 3,279 - - 98 - 3,377
Production taxes - - - 124 - - 124
Total Cash Costs (Non-U.S. GAAP) (5,730) 21,611 96,234 14,315 4,484 1,647 60,362
Add/Subtract:
Third party smelting costs - - (1,881) - (516) (483) (2,880)
By-product credit 57,501 - - 3,344 242 - 61,087
Other adjustments 233 608 - 266 97 - 1,204
Change in inventory (5,054) (869) 9,407 (13,722) (296) (112) (10,646)
Depreciation, depletion and amortization 42,646 6,021 7,016 1,152 474 750 58,059
Production costs applicable to sales, including depreciation, depletion and amortization (U.S. GAAP) $89,596 $27,370 $38,577 $5,356 $4,486 $1,802 $167,187
Production of silver (ounces) 2,690,368 1,997,416 - 373,589 129,972 111,723 5,303,068
Cash operating cost per silver ounce ($2.13) $9.18 - $37.99 $33.75 $14.74 $6.19
Cash costs per silver ounce ($2.13) $10.82 - $38.32 $34.50 $14.74 $6.85
Production of gold (ounces) - - $13,299.00 - - - $13,299.00
Cash operating cost per gold ounce - - $1,807.25 - - - $1,807.25
Cash cost per gold ounce - - $1,807.25 - - - $1,807.25