Results of Operations

Year Ended December 31, 2015

  Ounces produced2 Ounces sold Sales
(US$'s)
Average realized
price
(US$'s
per
ounce)
Average cash
cost
(US$'s
per
ounce)3
Average
Depletion
($'s Per
Ounce)
Net earnings 
(US$'s)
Cash flow
from
(used in)
operations
(US$'s)
Total assets
Silver




 


San Dimas  7,449 7,277 $ 113,198 $ 15.56 $ 4.22 $ 0.88 $ 76,122 $ 82,518 $ 146,555
Yauliyacu 2,717 2,544 40,079 15.75 4.19 6.43 13,040 29,407 165,282
Peñasquito 7,237 7,132 114,083 16.00 4.07 2.85 64,759 85,057 430,847
Antamina2,403 1,34018,858 14.072.80 9.931,80215,110 886,981
Barrick 4 2,383 2,364 37,103 15.70 3.90 3.24 20,237 27,887 498,090
Other 5 8,528 5,909 92,257 15.61 4.63 4.49 38,328 65,899 458,911
  30,717 26,566 $ 415,578 $ 15.64 $ 4.17 $ 3.41 $ 214,288 $ 305,878 $ 2,586,666
Gold




 


Sudbury 6 36,364  33,481  39,201  1,171  400  841  (2,364)  25,371  506,250 
Salobo  125,624  108,398  124,250  1,146  400  420  35,389  80,890  2,156,757 
Other 7  66,776  60,470  69,658  1,152  376  568  12,579  46,595  219,739 
  228,764  202,349  $ 233,109  $ 1,152  $ 393  $ 534  $ 45,604  $ 152,856  $ 2,882,746 
Silver Eq. 8 47,697 41,574 $ 648,687 $ 15.60 $ 4.58 $ 4.78  $ 259,892 $ 458,734 $ 5,469,412
Corporate




 


   General and administrative



  $ (32,237)


   Impairment Charges 9         (384,922)    
   Other         $ (4,775)    
Total corporate




  $ (421,934) $ (27,375) $ 162,799
  47,697 41,574 $ 648,687 $ 15.60 $ 4.58 $ 4.78  $ 162,042 $ 431,359 $ 5,632,211
  1. All figures in thousands except gold ounces produced and sold and per ounce amounts.
  2. Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions.  Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available.  Certain production figures may be updated in future periods as additional information is received.
  3. Refer to discussion on non-IFRS measures at the end of the 2015 Financials press release.
  4. Comprised of the operating Lagunas Norte, Pierina and Veladero silver interests in addition to the non-operating Pascua-Lama silver interest.
  5. Comprised of the operating Los Filos, Zinkgruvan, Cozamin, Neves-Corvo, Stratoni, Minto, 777 and Constancia silver interests in addition to the non-operating Keno Hill, Rosemont, Aljustrel and Loma de La Plata silver interests.
  6. Comprised of the operating Coleman, Copper Cliff, Garson, Stobie, Creighton and Totten gold interests in addition to the non-operating Victor gold interest.
  7. Comprised of the operating Minto, 777 and Constancia gold interests in addition to the non-operating Rosemont gold interest.
  8. Gold ounces produced and sold are converted to a silver equivalent basis based on either (i) the ratio of the average silver price received to the average gold price received during the period from the assets that produce both gold and silver; or (ii) the ratio of the price of silver to the price of gold on the date of sale as per the London Bullion Metal Exchange for the assets which produce only gold.
  9. As more fully described in the Asset Impairment section of this press release, during the year ended December 31, 2015, the Company recognized a total impairment charge of $384.9 million.

Quarter Ended Sept 30, 2016

  Ounces Produced2 Ounces Sold Average
Realized
Price
($'s Per Ounce)
Average
Cash Cost
($'s Per
Ounce)3
Average
Depletion
($'s Per
Ounce)
Sales Net
Earnings
Cash Flow
From
Operations
Total Assets
Silver  
 
 
 
 
  
 
 
San Dimas 1,264 1,065 $ 19.75 $ 4.28 $ 1.11 $ 21,037 $15,300 $16,478 $ 142,312
Yauliyacu 721 342 20.00 8.74 5.78 6,841 1,876 3,852 156,478
Peñasquito 1,487 1,078 19.73 4.09 3.05 21,276 13,574 16,866 421,955
Antamina1,4691,598 19.67 3.84 9.9431,437  9,42425,305830,594
Other 4 2,710 2,039 19.11 4.68 5.41 38,982 18,402 31,404 924,157
 Total Silver  7,651 6,122 $ 19.53 $ 4.51 $ 5.45 $ 119,573 $ 58,576 $ 93,905 $ 2,475,496
          
Gold  
 
 
 
 
  
 
 
Sudbury 5 9,955 12,294 $ 1,332 $ 400 $ 787 $ 16,382 $ 1,787 $ 11,463 $ 480,550
Salobo  68,168 50,043 1,339 400 382 67,008  27,875 46,991 2,932,959
Other 6  31,070 22,726 1,331 361 518 30,241 10,271 22,202 189,624
 Total Gold 109,193 85,063 $ 1,336 $ 390 $  477 $ 113,631 $ 39,933 $ 80,656 $ 3,603,133
Operating Results      $ 233,204 $ 98,509 $ 174,561 $ 6,078,629 
                  
Corporate  
 
 
 
 
  
 
 
General and administrative             
 
 
 
 $ (9,513) $ (7,994) 
 
Interest expense        (6,007)(5,204)  
Other            (1,380) 214   
Income tax recovery       1377  
Total corporate costs            $ (15,523) $ (12,984) $ 247,403
            $ 233,204 $ 82,986 $ 161,577 $ 6,326,032
  1. All figures in thousands except gold ounces produced and sold and per ounce amounts.
  2. Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received.
  3. Refer to discussion on non-IFRS measures in the financials
  4. Comprised of the operating Los Filos, Zinkgruvan, Neves-Corvo, Cozamin, Stratoni, Minto, 777, Lagunas Norte, Pieriena, Veladero and Constancia silver interests in addition to the non-operating Aljustrel, Keno Hill, Pascua Lama, Rosemont silver and gold interest and Loma de La Plata silver interests.
  5. Comprised of the operating Coleman, Copper Cliff, Garson, Stobie, Creighton and Totten gold interests in addition to the non-operating Victor gold interest.
  6. Comprised of the operating Minto, 777 and Constancia gold interests in addition to the non-operating Rosemont gold interest.

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