MINING PROPERTIES

Mining properties consist of the following (in thousands):



September 30, 2016	Palmarejo			Rochester			Kensington			Wharf			San Bartolomé			La Preciosa		Joaquin		Coeur Capital			Total
Mine development	$	169,892		$	154,997		$	259,468		$	33,344		$	39,685		$	—	$	—	$	—		$	657,386
Accumulated amortization	(133,685		)	(134,429		)	(147,932		)	(11,001		)	(31,793		)	—		—		—			(458,840		)
	36,207			20,568			111,536			22,343			7,892			—		—		—			198,546
Mineral interests	629,303			—			—			45,837			12,868			49,085		10,000		37,272			784,365
Accumulated amortization	(371,589		)	—			—			(18,335		)	(11,632		)	—		—		(29,301		)	(430,857		)
	257,714			—			—			27,502			1,236			49,085		10,000		7,971			353,508
Mining properties, net	$	293,921		$	20,568		$	111,536		$	49,845		$	9,128		$	49,085	$	10,000	$	7,971		$	552,054



December 31, 2015	Palmarejo			Rochester			Kensington			Wharf			San Bartolomé			La Preciosa		Joaquin		Coeur Capital			Total
Mine development	$	151,828		$	149,756		$	238,786		$	32,318		$	39,474		$	—	$	—	$	—		$	612,162
Accumulated amortization	(131,055		)	(126,242		)	(131,236		)	(5,784		)	(30,325		)	—		—		—			(424,642		)
	20,773			23,514			107,550			26,534			9,149			—		—		—			187,520
Mineral interests	629,303			—			—			45,837			12,868			49,085		10,000		59,343			806,436
Accumulated amortization	(348,268		)	—			—			(10,551		)	(11,400		)	—		—		(34,518		)	(404,737		)
	281,035			—			—			35,286			1,468			49,085		10,000		24,825			401,699
Mining properties, net	$	301,808		$	23,514		$	107,550		$	61,820		$	10,617		$	49,085	$	10,000	$	24,825		$	589,219

In March 2016, Coeur sold its 2.0% NSR royalty on the Cerro Bayo mine to the operator, a subsidiary of Mandalay Resources Corporation (“Mandalay”), for total consideration of approximately $5.7 million, consisting of $4.0 million in cash and 2.5 million Mandalay shares. The Company recognized a $1.9 million pre-tax gain on this sale. The mineral interest associated with the Cerro Bayo mine was included in the Coeur Capital segment.

The operator of the Endeavor mine in Australia, on which the Company has a 100% silver stream, announced in early 2016 a significant curtailment of production due to low lead and zinc prices. As a result, Coeur recorded a $2.5 million write-down of the mineral interest associated with the Endeavor silver stream within the Coeur Capital segment at March 31, 2016.

In April 2016, Coeur sold its tiered NSR royalty on the El Gallo mine to the operator, a subsidiary of McEwen Mining Inc., for total consideration of approximately $6.3 million, including $1 million in contingent consideration. In anticipation of this sale, the Company recorded a $1.9 million write-down of the mineral interest within the Coeur Capital segment at March 31, 2016.

In April 2016, Coeur closed the sale of its 2.5% NSR royalty on the La Cigarra project to Kootenay Silver Inc. for total consideration of approximately $3.6 million, consisting of $500,000 in cash and 9.6 million Kootenay shares. The Company recognized a $1.2 pre-tax gain on this sale. The mineral interest associated with La Cigarra was included in the Coeur Capital segment.

In May 2016, Coeur closed on the sale of its Martha assets and related liabilities in Argentina to Hunt Mining Corp. for total cash consideration of $3.0 million, including $1.5 million received at closing and $1.5 million receivable on the one-year anniversary of the closing. The Company recognized a $5.3 million pre-tax gain on this sale.

In July 2016, the Company completed the sale of its NSR royalty on the Correnso mine in New Zealand to the operator, a subsidiary of Oceana Gold Corporation, for total consideration of $5.4 million, including $0.7 million in contingent consideration. The Company recognized a $4.7 million pre-tax gain on this sale.