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Asset And Liabilities Held For Sale (Notes) | 9 Months Ended
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Sep. 30, 2021
Subsequent Events [Abstract] |
Asset And Liabilities Held For Sale | ASSET AND LIABILITIES HELD FOR SALE On October 27, 2021, the Company entered into a definitive agreement (the “Agreement”) to sell its La Preciosa project located in the State of Durango, Mexico to Avino Silver & Gold Mines Ltd. (“Avino”). The transaction is subject to customary closing conditions, including required regulatory approvals and expected to close in the first quarter of 2022. Under the Agreement, Avino will acquire the La Preciosa project from Coeur for the following consideration: •$15.0 million upon closing of the transaction, •$5.0 million promissory note that matures prior to the first anniversary of the transaction closing, •Equity consideration of 14.0 million units, payable on closing, each consisting of one share of Avino common stock and one half of one common share purchase warrant of Avino common stock, priced at a 25% premium to the 20 day volume weighted average price prior to announcement, •Deferred cash consideration of approximately $8.8 million to be paid no later than the first anniversary of initial production from any portion of the La Preciosa project, •Contingent payments of $0.25 per silver equivalent ounce (subject to an inflationary adjustment) on any new mineral reserves discovered and declared outside of the current resource area at the La Preciosa project, up to a maximum payment of $50.0 million, and •Two royalties covering the La Preciosa land package, including (i) a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and (ii) a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas, offset by the amount of any new mineral reserve contingent payments made to Coeur. The Company classified the La Preciosa project as held for sale as of September 30, 2021 and the associated assets and liabilities are classified separately on the consolidated balance sheets. The major classes of assets and liabilities associated with the La Preciosa project as of September 30, 2021 are as follows:
In thousands | September 30, 2021
Cash and cash equivalents | $ | 393 |
Receivables | 1,219
Prepaid expenses and other | 1,338
Property, plant and equipment, net | 1,633
Mining properties, net | 49,085
Other | 810 |
TOTAL ASSETS | $ | 54,478 |
Accounts payable | $ | 321 |
Deferred tax liabilities | 11,156 |
TOTAL LIABILITIES | $ | 11,477 |

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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