<SEC-DOCUMENT>0001193125-15-038311.txt : 20150421
<SEC-HEADER>0001193125-15-038311.hdr.sgml : 20150421
<ACCEPTANCE-DATETIME>20150209082635
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-15-038311
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Coeur Mining, Inc.
		CENTRAL INDEX KEY:			0000215466
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				820109423
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		104 SOUTH MICHIGAN AVENUE
		STREET 2:		SUITE 900
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60603
		BUSINESS PHONE:		312-489-5800

	MAIL ADDRESS:	
		STREET 1:		104 SOUTH MICHIGAN AVENUE
		STREET 2:		SUITE 900
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60603

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COEUR D ALENE MINES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>CORRESP
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Gibson, Dunn&nbsp;&amp; Crutcher LLP </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>200 Park Avenue </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>New York,
NY 10166-0193 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Tel 212.351.4000 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>www.gibsondunn.com </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;9, 2015
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR CORRESPONDENCE </U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities
and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100
F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left">Attention:</TD>
<TD ALIGN="left" VALIGN="top">Mr.&nbsp;John Reynolds, Assistant Director </TD></TR></TABLE>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Ms.&nbsp;Pamela Howell </TD></TR></TABLE>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Ms.&nbsp;Hillary Daniels </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Response to SEC Staff Comment Letter dated January&nbsp;29, 2015 </B></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>Coeur Mining,
Inc.</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>Registration Statement on Form S-4 filed January&nbsp;7, 2015</B> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>File No.&nbsp;333-201382</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Reynolds, Ms.&nbsp;Howell and Ms.&nbsp;Daniels: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of Coeur Mining, Inc. (&#147;Coeur&#148;), this letter responds to
your letter, dated January&nbsp;29, 2015 (the &#147;Comment Letter&#148;), regarding the above referenced filing (as amended from time to time, the &#147;Registration Statement&#148;) relating to the proposed acquisition of Paramount Gold and Silver
Corp. (&#147;Paramount&#148;) by Coeur. Amendment No.&nbsp;1 to the Registration Statement (&#147;Amendment No.&nbsp;1&#148;) is being filed today by electronic submission. For your convenience, we have provided under separate cover four marked
copies of Amendment No.&nbsp;1, which have been marked to show all changes made to the original Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Set forth below
are Coeur&#146;s responses to the comments of the Staff of the Division of Corporation Finance (the &#147;Staff&#148;) of the U.S. Securities and Exchange Commission (the &#147;Commission&#148;) contained in the Comment Letter. For convenience of
reference, the Staff&#146;s comments have been reproduced herein in bold. Please note that all page numbers in our responses are references to the page numbers of Amendment No.&nbsp;1 as filed on EDGAR, unless otherwise noted. Capitalized terms used
but not defined in this letter have the meanings ascribed thereto in the Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>General </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 1: Please include the pro forma financial information required by Article 11 of Regulation S-X. Refer to Item&nbsp;5 of Form S-4. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully notes that no pro forma financial information is required by Article 11 of Regulation S-X (&#147;Article 11&#148;)
because the significance of the Paramount acquisition, as calculated pursuant to Regulation S-X, Rule 1-02(w) (&#147;Rule 1-02(w)&#148;), is less than 20%. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Item&nbsp;5 of Form S-4 requires disclosure of financial information, if any, required by
Article 11. Rule 11-01(a) of Regulation S-X requires pro forma financial information in circumstances where a &#147;significant&#148; business combination has occurred or is probable. An acquisition is considered significant for these purposes if
the business to be acquired would be significant pursuant to the conditions of Rule 1-02(w) at the 20% level. Accordingly, pro forma financial information with respect to the Paramount acquisition would be required in the Registration Statement only
if one of the following conditions were met: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Coeur&#146;s investments in and advances to Paramount exceed 20% of the total consolidated assets of Coeur as of the end of Coeur&#146;s most recently completed fiscal year (the &#147;investment test&#148;);
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Coeur&#146;s proportionate share of Paramount&#146;s total assets (after intercompany eliminations) exceeds 20% of Coeur&#146;s total consolidated assets as of the end of Coeur&#146;s most recently completed fiscal year
(the &#147;assets test&#148;); or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Coeur&#146;s equity in income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principle exclusive of amounts attributable to any noncontrolling
interests (&#147;Test Income&#148;) of Paramount exceeds 20% of such income of Coeur on a consolidated basis for Coeur&#146;s most recently completed fiscal year (the &#147;income test&#148;). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on this definition, the Paramount business to be acquired does not meet any of the three tests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Coeur&#146;s most recently completed fiscal year for which financial statements are included in the Registration Statement is the year ended
December&nbsp;31, 2013. Coeur&#146;s consolidated total assets as of December&nbsp;31, 2013 were $2,886.0 million. Paramount&#146;s most recently completed fiscal year ended June&nbsp;30, 2014. Paramount&#146;s consolidated total assets at
June&nbsp;30, 2014 were $62.3 million. As such, Paramount&#146;s significance under the asset test is 2.2%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The proposed acquisition of
Paramount by Coeur is to be accounted for by the purchase method of accounting. The purchase price of Paramount (the &#147;investment in and advances to&#148; Paramount) is approximately $154.7 million (calculated as 32.7&nbsp;million shares at the
announcement date 20 day VWAP of $4.47 plus $8.5 million equity financing of SpinCo). As such, Paramount&#146;s significance under the investment test is 5.4%. The final purchase price will be based on Coeur&#146;s stock price at closing date;
however, to be considered significant, Coeur&#146;s stock price would need to reach $17.40. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Coeur&#146;s Test Income for the year ended
December&nbsp;31, 2013 was $(808.7) million, and Paramount&#146;s Test Income for the year ended June&nbsp;30, 2014 was $(11.1) million. As such, Paramount&#146;s significance under the income test is 1.4%. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Coeur notes for the Staff that, if the financial statements of Coeur for the year ended
December&nbsp;31, 2014 are to be included in the Registration Statement when it is declared effective, Coeur will recalculate the significance tests using such numbers. If significance were to exceed 20% on such basis, Coeur also would file in the
Registration Statement all pro forma financial information required by Article 11. That said, Coeur currently expects Paramount&#146;s significance to be substantially below 20% when recalculated for the year ended December&nbsp;31, 2014. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Summary Historical Financial Data of Coeur, page 12 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 2: Please revise your financial data section to include the pro forma information required by Item&nbsp;3 of Form S-4. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised to include the pro forma selected financial data and per share data
required by Item&nbsp;3(e) and 3(f) of Form S-4 in response to this Comment. Please see pages 15, 16 and 17 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Comparative
Per Share Information, page 15 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 3: Please revise to present in comparative columnar form (a)&nbsp;historical and pro forma per share
data for Coeur and (b)&nbsp;historical and equivalent pro forma per share data for Paramount. Refer to Item&nbsp;3(f) of Form S-4. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As
set forth above in Coeur&#146;s response to Comment 2, the applicable disclosure in the Registration Statement has been revised to include the historical and pro forma per share data required by Item&nbsp;3(f) of Form S-4 in response to this
Comment. Please see pages 16 and 17 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Background of the Merger, page 37 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 4: Please identify the investment bank that had a representative at the September&nbsp;5, 2014 meeting. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this Comment. Please see page 41 of Amendment
No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 5: Discuss in greater detail the non-dilutive financing opportunities sought by Paramount. Also, please discuss whether any other
strategic alternatives were considered. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this
Comment. Please see pages 41 and 48 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 6: We note disclosure that a special committee was formed by the Paramount board
to consider a proposed transaction between SpinCo and a third party. Please add disclosure regarding how the members of the committee were selected and what duties they were given. </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this
Comment. Please see page 42 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 7: We note the financial advisors for Coeur Mining and Paramount provided oral opinions
to the respective boards on December&nbsp;15, 2014, which were subsequently confirmed in writing. Please provide us supplemental copies of any materials, such as board books, used in their presentations to the board. We may have additional comments
after reviewing these materials. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the presentation materials provided to Coeur&#146;s board of directors on
December&nbsp;15, 2014 by Raymond James Ltd. (&#147;Raymond James&#148;) for purposes of their fairness opinion analysis will be furnished supplementally to the Staff by McGuireWoods LLP, counsel to Raymond James, under separate cover requesting
confidential treatment of such materials under the Freedom of Information Act. Raymond James will request that such materials be returned promptly to McGuireWoods LLP following completion of the Staff&#146;s review thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the presentation materials provided to Paramount&#146;s board of directors on December&nbsp;15, 2014 by Scotia Capital (USA) Inc.
(&#147;Scotia Capital&#148;) for purposes of their fairness opinion analysis will be furnished supplementally to the Staff by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, counsel to Scotia Capital, under separate cover requesting
confidential treatment of such materials under the Freedom of Information Act. Scotia Capital will request that such materials be returned promptly to Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP following completion of the Staff&#146;s
review thereof. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Paramount&#146;s Reasons for the Merger; Recommendation of the Paramount Board of Directors, page 45 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 8: We note your disclosure on page 37 that the Paramount board has considered other transactions in the past. Please add disclosure regarding any
consideration given by the Paramount board regarding alternatives to the transaction, including with other companies in the industry. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response to this Comment. Please see page 48 of Amendment
No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Opinion of Coeur&#146;s Financial Advisor, page 48 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 9: We note the disclosure on page 49 that the Paramount Projections were provided to Raymond James through Coeur. Please revise your registration
statement to disclose the Paramount Projections. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response
to this Comment. Please see pages 24, 25, 26, 78, 79 and 80 of Amendment No.&nbsp;1. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 10: We note disclosure on page 51 that Raymond James considered the estimated Capital Savings in
its analysis. We also note the Coeur-Paramount Projections used in the Discounted Cash Flow Analysis on page 53. Please disclose these projections. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response to this Comment. Please see pages 24, 25, 26, 55, 56, 78,
79 and 80 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 11: We note the companies considered in the Selected Companies Analysis and the Selected Transaction
Analysis. Please advise whether any additional companies fit within the criteria but were not analyzed, and if so, why they were excluded. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response to this Comment. Please see pages 53, 54 and 55 of
Amendment No.&nbsp;1. Coeur respectfully advises the Staff that it has been advised by Raymond James that no company that fit within the criteria established by Raymond James in conducting the Selected Companies Analysis and the Selected Transaction
Analysis was excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 12: Please describe the method of selection of Raymond James by Coeur Mining, Inc. Refer to Item&nbsp;1015(b)(3) of
Regulation M-A for guidance. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this Comment.
Please see page 50 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 13: Please expand the compensation disclosure on page 55 to disclose the aggregate compensation
received by Raymond James in the past two years for all services. Refer to Section&nbsp;1015(b)(4) of Regulation M-A for guidance. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this Comment. Please see page 57 of Amendment
No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 14: Please revise the compensation disclosure on page 55 to clearly state the amount of the compensation that is contingent upon
the closing of the transaction. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable paragraph in the Registration Statement has been revised in response to this Comment.
Please see page 57 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Opinion of Paramount&#146;s Financial Advisor, page 55 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 15: Please clarify with greater specificity the criteria used to determine the comparable precedent transactions on page 61. Please advise whether
any additional transactions fit within the criteria but were not analyzed, and if so, why they were excluded. Provide similar disclosure for the companies on page 64. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response to this Comment. Please see page 63 and 66 of Amendment
No.&nbsp;1. Coeur respectfully advises the Staff that it has been advised by Scotia Capital that no transaction that fit within the comparable precedent transactions criteria was intentionally excluded from Scotia Capital&#146;s analysis. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 6
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 16: Please clarify on page 61 how the P/NAV range and EV/Resource range used in determining the
generated illustrated values were determined. Please revise similar disclosure on page 64. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the
Registration Statement has been revised in response to this Comment. Please see pages 63 and 66 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>The Voting and Support
Agreement, page 83 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 17: Please disclose the amount and percent of shares of Paramount that shareholders have agreed to vote in favor of
the merger agreement. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The applicable disclosure in the Registration Statement has been revised in response to this Comment. Please
see pages 10 and 88 of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibits </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 18: Please remove from the legality opinion the statement that you are not admitted to practice in the state of Delaware, as it is a limitation on
the opinion. For guidance, see SLB 19. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Counsel has revised the legality opinion to in response to this Comment. Please see Exhibit
5.1 to Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 19: We note that you have filed the forms of the legal and tax opinions. Please file the executed opinions prior
to requesting effectiveness. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Coeur respectfully advises the Staff that the legal and tax opinions will be executed on and dated the
date that the Registration Statement is declared effective. At that time, fully executed legal and tax opinions will be filed as exhibits to the Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Comment 20: Please file the royalty agreement as an exhibit or incorporate it by reference in the exhibits index. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The exhibit index in the Registration Statement has been revised in response to this Comment. We respectfully note to the Staff that the
royalty agreement was already incorporated by reference into the Registration Statement as it is an exhibit to a Form 8-K filed by Paramount, which itself is incorporated by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you have any questions or comments or require further information with respect to the foregoing, please do not hesitate to call the
undersigned at (212)&nbsp;351-3879. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. John Reynolds </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Pamela Howell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Hillary Daniels </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 9, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 7
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:78%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:78%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Steven R. Shoemate, Esq. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:78%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Steven R. Shoemate, Esq. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">Mitchell J. Krebs </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Coeur Mining, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Casey M. Nault </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Coeur Mining,
Inc. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
