Coeur Mining (CDE) risk factors, FY2025 10-K

Coeur Mining's FY2025 10-K, filed Feb 18, 2026, lists 43 risk factors in 7 groups. Against the prior year's 42: 5 new, 4 dropped, 11 substantially reworded.

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Risk factors listed
437 groups
New this year
5vs 42 last year
Dropped
4since the prior 10-K
Substantially reworded
11of those kept
Section length
15k wordsItem 1A

What the changes say

  • New Gold transaction dominates the new risks, adding integration, litigation, reporting, disruption and dilution concerns.

What changed since the prior 10-K

New

  • NewRISKS RELATED TO OUR INDUSTRY

    Silver (per ounce) $74.84 December 30, 2025 $29.41 January 2, 2025

    New Gold would add copper-price exposure to Coeur’s gold and silver revenue sensitivity, with 2025 silver prices ranging from $29.41 to $74.84 per ounce.

  • NewRISKS RELATED TO OUR OPERATIONS

    Further, with the completion of the New Gold Transaction, Coeur’s presence in Canada is expected to grow with the two Canadian operations of the New Afton gold-copper mine and Rainy River gold mine

    Acquisitions could bring higher debt costs, shareholder dilution, weaker ore bodies, processing problems and difficulties integrating expanded operations.

  • NewRISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

    Coeur and New Gold may be the targets of legal claims, securities class actions, derivative lawsuits and other claims and negative publicity related to the New Gold Transaction

    The New Gold Transaction could trigger lawsuits or securities claims that delay closing, increase costs and distract management.

  • NewRISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

    New Gold’s public filings are subject to Canadian disclosure standards, which differ from SEC disclosure requirements

    New Gold’s IFRS and NI 43-101 reporting may require conversion to U.S. GAAP and SEC standards and could conceal relevant liabilities.

  • NewRISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

    The pendency of the New Gold Transaction may cause disruptions in our business, which could have an adverse effect on our business, financial condition or results of operations

    Uncertainty around the pending transaction could disrupt customers, suppliers and employees, causing relationship changes, retention problems or management distraction.

Dropped

  • DroppedRISKS RELATED TO OUR INDUSTRY

    Silver (per ounce) $34.51 October 23, 2024 $22.09 February 14, 2024

  • DroppedRISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

    The potential exposure may be significant and could have a material adverse effect on our financial condition and results of operations

    Gold and silver price volatility and ETF ownership could affect revenue, operations and cash flow.

  • DroppedRISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

    the claims, concessions or rights comprising our projects that, if successful, could impair development and operations. A defect could result in us losing all or a portion of our right, title, estate and interest in and to the properties to which the title defect relates

  • DroppedRISKS RELATED TO OUR COMMON STOCK

    certain Canadian accredited investors for a private placement offering of an aggregate 7.7 million shares of common stock, par value $0.01 per shares, to be issued as “flow-through shares,” as defined in subsection 66(15) of the Income Tax Act (Canada)

Reworded

  • 83% rewrittenRISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

    Compliance with environmental regulations and litigation based on environmental regulations could require significant expenditures

    No substantive change; the environmental-regulation risk retains the same evolving standards, enforcement, penalties and cost concerns.

  • 81% rewrittenRISKS RELATED TO OUR OPERATIONS

    maintenance challenges than were anticipated at the time Silvertip was acquired, as well as deteriorating zinc and lead market conditions

    The Las Chispas risk changes SilverCrest transaction language to completed status and says economic failure may, rather than could, lead to closure.

    Was: than originally anticipated, due primarily to more significant mill availability and maintenance challenges than were anticipated at the time Silvertip was acquired, as well as deteriorating zinc and lead market conditions

  • 79% rewrittenRISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

    The combined company may be unable to integrate the businesses of Coeur and New Gold successfully or realize the anticipated benefits of the New Gold Transaction

    The risk shifts from integrating SilverCrest to integrating New Gold, adding that Coeur lacks control before closing and pre-closing events could affect results.

    Was: The combined company may be unable to integrate the businesses of Coeur and SilverCrest successfully or realize the anticipated benefits of the SilverCrest Transaction

  • 62% rewrittenRISKS RELATED TO OUR INDUSTRY

    Our results of operations, cash flows and operating costs are highly dependent upon the market prices of gold and silver and of key input commodities used in our business, which are volatile and beyond our control

    The commodity-price table updates from 2024 to 2025, including gold’s high of $4,449 and low of $2,633 per ounce.

  • 61% rewrittenRISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

    Coeur is expected to incur significant transaction costs in connection with the New Gold Transaction, which may exceed those anticipated by Coeur

    Transaction costs now relate to New Gold, may arise even without closing, and include additional post-closing integration costs.

    Was: Coeur is expected to incur significant transaction costs in connection with the SilverCrest Transaction, which may exceed those anticipated by Coeur

  • 47% rewrittenRISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

    Disputes regarding our mining claims, concessions or surface rights to land in the vicinity of our mining projects could adversely impact operations

    No substantive change; the risk still concerns contested mining claims, concessions or rights and limited title assurance.

  • 43% rewrittenRISKS RELATED TO OUR COMMON STOCK

    We have the ability to issue additional equity securities, including in connection with an acquisition of other companies, including the anticipated New Gold Transaction, which would lead to dilution of our issued and outstanding common stock and may materially and adversely affect the price of our common stock

    The dilution example adds New Gold’s expected 0.4959 exchange ratio and approximately 392,610,973 expected new Coeur shares.

    Was: We have the ability to issue additional equity securities, including in connection with an acquisition of other companies, including the SilverCrest Transaction, which would lead to dilution of our issued and outstanding common stock and may materially and adversely affect the price of our common stock

  • 38% rewrittenRISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

    We are required to obtain and renew governmental permits in order to conduct operations, a process which is often costly and time-consuming. Our ability to obtain necessary government permits to expand operations or begin new operations may be materially affected by third-party activists

    The permitting examples change Palmarejo’s cited permit from future tailings placement to its main operating permit and add explicit cost and timing uncertainty.

  • 27% rewrittenRISKS RELATED TO OUR OPERATIONS

    We may be expected to continue enhancing our sustainability practices to meet evolving and inconsistent standards

    Was: We may be expected to continue enhancing our ESG practices to meet evolving and inconsistent standards

  • 23% rewrittenRISKS RELATED TO OUR OPERATIONS

    The Company may be affected by global supply chain disruptions

  • 22% rewrittenRISKS RELATED TO OUR INDUSTRY

    There are significant hazards associated with mining activities, some of which may not be fully covered by insurance

All 43 risk factors

Headings as the filing states them, in filing order.

RISKS RELATED TO OUR INDUSTRY

  1. 01Our results of operations, cash flows and operating costs are highly dependent upon the market prices of gold and silver and of key input commodities used in our business, which are volatile and beyond our control62% rewritten
  2. 02Silver (per ounce) $74.84 December 30, 2025 $29.41 January 2, 2025New
  3. 03Volatility in metals prices may also impact the price of our outstanding securities
  4. 04A significant delay or disruption in sales of concentrates or doré as a result of the unexpected disruption in services provided by smelters, refiners or other third parties could have a material adverse effect on our results of operations
  5. 05There are significant hazards associated with mining activities, some of which may not be fully covered by insurance22% rewritten

RISKS RELATED TO OUR OPERATIONS

  1. 06Our future growth will depend upon our ability to expand existing mines and develop and start-up new mines, either through exploration at existing properties or by acquisition of other mining companies or properties
  2. 07We may be unable to successfully integrate, may not realize the expected benefits of recent or future acquisitions or may face risks associated with divestitures
  3. 08maintenance challenges than were anticipated at the time Silvertip was acquired, as well as deteriorating zinc and lead market conditions81% rewritten
  4. 09Further, with the completion of the New Gold Transaction, Coeur’s presence in Canada is expected to grow with the two Canadian operations of the New Afton gold-copper mine and Rainy River gold mineNew
  5. 10Significant investment risks and operational costs are associated with exploration and development activities. These risks and costs may result in lower economic returns and may adversely affect our business
  6. 11The Company may be affected by global supply chain disruptions23% rewritten
  7. 12We may be required to write down certain long-lived assets, due to metal prices, operational challenges or other factors. Such write-downs may adversely affect our results of operations and financial condition
  8. 13Coeur is an international company and is exposed to political and social risks associated with its foreign operations
  9. 14Our operations outside the United States also expose us to economic and operational risks
  10. 15Our success depends on developing and maintaining relationships with local communities and other stakeholders
  11. 16Our mining assets are subject to geotechnical and hydrological risks, and a related incident could materially and adversely impact our production, profitability and financial condition, as well as the value of our common stock
  12. 17Our estimates of future production, costs, expenditures and financial results are imprecise, depend upon subjective factors, may not be realized in actual production and such estimates speak only as of their respective dates
  13. 18Our use of derivative contracts to protect against market price volatility exposes us to risk of opportunity loss, mark-to-market fair value adjustments, potential cash collateral calls and exposure to counterparty credit risk
  14. 19We are dependent upon information technology and operational technology, including technology that incorporates artificial intelligence (“AI”), which are subject to cybersecurity incidents, disruption, damage, failure and other risks associated with implementation and integration
  15. 20We may be expected to continue enhancing our sustainability practices to meet evolving and inconsistent standards27% rewritten
  16. 21Our operations may be disrupted, and our financial results may be adversely affected by an outbreak of infectious disease or pandemic
  17. 22Public health threats and related government restrictions, including potential closure of national borders, may disrupt the supply of raw goods, equipment, supplies and services upon which our operations rely
  18. 23Our business depends on good relations with, and the retention and hiring of, personnel
  19. 24Continuation of our mining operations is dependent on the availability of sufficient and affordable water supplies
  20. 25We may not be able to recognize the benefits of deferred tax assets

RISKS RELATED TO INDEBTEDNESS AND FINANCING

  1. 26Our future operating performance may not generate cash flows sufficient to meet debt payment obligations
  2. 27The terms of our debt impose restrictions on our operations
  3. 28Any downgrade in the credit ratings assigned to us or our debt securities could increase future borrowing costs, adversely affect the availability of new financing and may result in increased collateral requirements under our existing surety bond portfolio

RISKS RELATED TO APPLICABLE LAWS AND REGULATIONS

  1. 29Compliance with environmental regulations and litigation based on environmental regulations could require significant expenditures83% rewritten
  2. 30We are required to obtain and renew governmental permits in order to conduct operations, a process which is often costly and time-consuming. Our ability to obtain necessary government permits to expand operations or begin new operations may be materially affected by third-party activists38% rewritten
  3. 31Our business is subject to anti-bribery laws, a breach or violation of which could lead to civil and criminal fines and penalties, loss of licenses or permits and reputational harm
  4. 32We are subject to litigation and may be subject to additional litigation in the future
  5. 33Disputes regarding our mining claims, concessions or surface rights to land in the vicinity of our mining projects could adversely impact operations47% rewritten
  6. 34We are subject to tax laws in the United States, Mexico, Canada and other foreign jurisdictions. Changes in fiscal and tax policies, including new tax legislation and reform to existing policy, may have a significant negative impact on the Company’s effective tax rate

RISKS RELATED TO OUR COMMON STOCK

  1. 35We have the ability to issue additional equity securities, including in connection with an acquisition of other companies, including the anticipated New Gold Transaction, which would lead to dilution of our issued and outstanding common stock and may materially and adversely affect the price of our common stock43% rewritten
  2. 36Holders of our common stock may not receive dividends

RISKS RELATED TO THE ACQUISITION OF SILVERCREST METALS INC

  1. 37Coeur and SilverCrest may be the targets of legal claims, securities class actions, derivative lawsuits and other claims and negative publicity related to the SilverCrest Transaction
  2. 38SilverCrest’s public filings are subject to Canadian disclosure standards, which differ from SEC disclosure requirements

RISKS RELATED TO THE ANTICIPATED ACQUISITION OF NEW GOLD INC

  1. 39Coeur and New Gold may be the targets of legal claims, securities class actions, derivative lawsuits and other claims and negative publicity related to the New Gold TransactionNew
  2. 40Coeur is expected to incur significant transaction costs in connection with the New Gold Transaction, which may exceed those anticipated by Coeur61% rewritten
  3. 41The combined company may be unable to integrate the businesses of Coeur and New Gold successfully or realize the anticipated benefits of the New Gold Transaction79% rewritten
  4. 42New Gold’s public filings are subject to Canadian disclosure standards, which differ from SEC disclosure requirementsNew
  5. 43The pendency of the New Gold Transaction may cause disruptions in our business, which could have an adverse effect on our business, financial condition or results of operationsNew

Other Coeur Mining 10-Ks

  • FY2024 10-K risk factors
    42 risks

    Coeur Mining faces primary risks from volatile gold and silver prices and heavy reliance on foreign operations, particularly in Mexico. The company carries significant debt and relies on successful integration of acquisitions like SilverCrest. Operations depend heavily on specialized labor, water access, and environmental permitting.

    Filed Feb 19, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.