Assets and Liabilities Held For Sale

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held For Sale

ASSETS AND LIABILITIES HELD FOR SALE

On September 18, 2022, the Company entered into a Stock Purchase Agreement with AngloGold Ashanti (U.S.A.) Holdings Inc., a Delaware corporation and its affiliate for the sale of 100% of the issued and outstanding shares of Coeur Sterling, Inc. a subsidiary of Coeur that operates the Sterling/Crown exploration properties near Beatty, Nevada, in exchange for: (A) a cash payment of $150,000,000 at the closing of the transaction, subject to a customary purchase price adjustment and (B) the right to an additional payment of $50,000,000 should Buyer, its affiliates or its successors report gold resources in the Sterling/Crown exploration properties (including any in-situ ounces mined after the closing of the Transaction) equal to or greater than 3,500,000 gold ounces, subject to certain additional terms and conditions detailed in the stock purchase agreement.

The transaction was consummated on November 4, 2022.

The Company classified the Sterling/Crown exploration properties as held for sale as of September 30, 2022 and the associated assets and liabilities are classified separately on the consolidated balance sheets. The major classes of assets and liabilities associated with the Sterling/Crown exploration properties as of September 30, 2022 are as follows:

In thousands	September 30, 2022
ASSETS
Cash and cash equivalents	$	32
Property, plant and equipment, net	707
Mining properties, net	100,985
Other	26
TOTAL ASSETS	$	101,750
LIABILITIES
Accounts payable	$	34
Accrued liabilities and other	78
Reclamation	1,828
Deferred tax liabilities	10,873
TOTAL LIABILITIES	$	12,813