WRITE-DOWNS



	Year ended December 31,
	2017		2016		2015
Mining properties
Palmarejo	$	—	$	—	$	205,803
Coeur Capital	—		4,446		22,118
	—		4,446		227,921

Property, plant, and equipment
Palmarejo	$	—	$	—	$	18,704

Total	$	—	$	4,446	$	246,625

The 2016 write-down of $4.4 million ($3.9 million net of tax) was due to the impairment of Coeur Capital assets. The operator of the Endeavor mine in Australia, on which the Company holds a 100% silver stream, announced in early 2016 a significant curtailment of production due to low lead and zinc prices. As a result, Coeur recorded a $2.5 million write-down of the mineral interest associated with the Endeavor Silver Stream at March 31, 2016. In April 2016, Coeur sold its tiered NSR royalty on the El Gallo mine to the operator, a subsidiary of McEwen Mining Inc., for total consideration of approximately $6.3 million, including $1 million in contingent consideration. In anticipation of this sale, the Company recorded a $1.9 million write-down of the mineral interest at March 31, 2016.

The 2015 write-down of $246.6 million ($209.8 million net of tax) was due to a $224.5 million impairment of the Palmarejo

complex ($193.5 million net of tax) and a $22.1 million impairment ($16.3 million net of tax) of certain Coeur Capital assets, including the Endeavor Silver Stream and other royalties. The non-cash impairment charges were largely driven by significant decreases in long-term metal price assumptions and revised mine plans in the fourth quarter. For purposes of this evaluation, estimates of future cash flows of the individual reporting units were used to determine fair value. The estimated cash flows were derived from life-of-mine plans, developed using long-term pricing reflective of the current price environment and management’s projections for operating costs.