History
Coeur Mining grew from 2015 through a string of acquisitions, funded largely by new shares, and by March 2026 had absorbed SilverCrest and New Gold.
2014-2017: Buying Paramount and Wharf
Coeur's record opens in December 2014 with a deal to buy Paramount Gold and Silver in an all-stock merger. It was a two-part deal. Paramount first spun its Nevada assets, including the Sleeper project, into a separate company kept by its own shareholders. Coeur took the Mexican San Miguel project, paying 0.2016 Coeur shares for each Paramount share, a fixed ratio. The beats put the value at about $143.9 million and say former Paramount holders would own about 24% of Coeur. The merger agreement was amended in March 2015, and the deal closed on 17 April 2015. In January 2015 Coeur also agreed to buy the Wharf gold mine in South Dakota from Goldcorp for $105 million in cash.
Shares on issue rose from about 103 million at the end of 2014 to about 137 million at the end of 2015. The record then goes quiet on the business itself. Filings show the exchange moving to remove a class of Coeur's securities from listing in November 2015, and Coeur deregistering securities in April 2017, ending its obligation to file reports with the SEC for that class. In May 2017 Coeur raised $250 million through 5.875% senior notes due 2024.
2017-2019: Swapping Bolivia for Canada and Nevada
In September 2017 Coeur agreed to buy Silvertip Resources' silver-lead-zinc mine in British Columbia, completing it in October. In December 2017 it agreed to sell its Bolivian subsidiary, which ran the San Bartolome silver mine, to Ag-Mining Investments for a 2% royalty, pre-closing VAT refunds and one-year promissory notes equal to the subsidiary's cash, about $28 million at 30 November 2017. The sale closed in February 2018 and ended Coeur's Bolivian operations.
In Nevada, Coeur bought Northern Empire Resources, owner of the Sterling and Crown gold exploration projects near Beatty, agreeing in August 2018 and completing on 1 October. Later that month it agreed to buy land and mining claims in Pershing County, next to its Rochester mine, from Rye Patch Gold/Alio Gold for $19.0 million in stock. It closed in November by issuing 4,268,703 shares.
In September 2019 Coeur turned to paying down debt with shares. It exchanged $20 million of senior notes for 4.45 million shares, and finished a $75 million at-the-market offering (selling shares on the open market through banks) that raised about $73.9 million net.
2021-2023: Refinancing, a stake and a sale
In March 2021 Coeur raised $375 million of 5.125% senior notes due 2029 and used the money to redeem the $250 million notes due 2024, pushing its debt maturity out by five years. In May 2021 it agreed to take a 17.8% stake in Victoria Gold Corp (11.07 million shares) from Orion Co-VI for about $117.2 million of its own stock. The seller also agreed to support any later Coeur bid for majority control.
In September 2022 Coeur agreed to sell Sterling/Crown to AngloGold Ashanti for $150 million cash, plus up to $50 million more if milestones were met. The sale closed on 4 November 2022 for about $150 million.
Funding then relied on shares. Coeur set up a $50 million at-the-market program in November 2022, then a $100 million one in February 2023. The $100 million program was completed in March, selling 32.86 million shares for about $98.5 million net to reduce debt. In June 2023 it began private placements of Canadian tax-advantaged "flow-through" shares to fund Canadian exploration, and exchanged a further $11 million of notes for 3.26 million shares. In September it exchanged $8 million more of notes for 3.35 million shares and finished a $50 million at-the-market offering, selling 21.7 million shares for about $49.25 million net. Shares on issue rose from about 296 million at the end of 2022 to about 386 million at the end of 2023.
2024-2026: SilverCrest and New Gold
In March 2024 Coeur exchanged another $5.9 million of notes for shares and settled long-running litigation with royalty holder Maverix Metals over the Kensington mine. The royalty fell to 1.25% through 2026, rising to 1.5% after, and its cost-recoupment mechanism was removed. In return Coeur agreed to issue Maverix up to 2.455 million shares over the following year.
In October 2024 Coeur agreed to buy SilverCrest Metals, owner of the Las Chispas silver-gold mine in Mexico, in an all-stock deal. SilverCrest holders were to receive 1.6022 Coeur shares per share, valuing them at $11.34 each, an 18-22% premium. Existing Coeur holders were to keep about 63% and SilverCrest holders to take about 37%. Shareholders were asked to raise authorized shares from 600 million to 900 million, and the meeting was set for 6 February 2025. The deal completed on 14 February 2025. Shares on issue rose from about 399 million at the end of 2024 to about 642 million at the end of 2025.
In November 2025 Coeur agreed to a second all-stock deal, buying Canadian gold miner New Gold at 0.4959 Coeur shares per New Gold share, a split of about 62% and 38%. It asked shareholders to lift authorized shares from 900 million to 1.3 billion, with a meeting set for 27 January 2026. The deal was completed in March 2026, and in the same week Coeur replaced its Bank of America credit facility with a new $1 billion revolving facility led by National Bank of Canada. With no pending deals open, Coeur held Wharf, Las Chispas and New Gold's Canadian assets.
Written from the 36 story beats below (2014 to 23 Mar 2026), which come from the company's own announcements and filings.