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Coeur d'Alene Mines has added a news release to its Investor Relations website. Title: Coeur d'Alene Mines Announces Withdrawal of Proposed Offering of Senior Notes
Date(s): 3-Jul-2012 9:06 AM
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COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Jul. 3, 2012--
Coeur d'Alene Mines Corporation (the "Company" or "Coeur") (NYSE:
CDE)(TSX: CDM) today announced that in light of current capital market
conditions it has decided not to proceed with its previously announced
offering of senior notes at this time.
"Weak overall conditions in the debt markets led us to conclude that the
proposed offering of senior notes would not be in the best interest of
shareholders under the terms currently available," stated Mitchell J.
Krebs, President and Chief Executive Officer. "We had hoped to
opportunistically access the debt markets to augment our already strong
balance sheet, but we will only do so in a disciplined manner. We will
continue our focus on creating shareholder value through operational
consistency, cost containment, disciplined growth, and maintaining a
conservative financial profile."
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada, including,
among others, Coeur's expectations regarding operational and financial
performance.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause Coeur's actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
risks and hazards inherent in the mining business (including
environmental hazards, industrial accidents, weather or geologically
related conditions), changes in the market prices of gold and silver,
the uncertainties inherent in Coeur's production, exploratory and
developmental activities, including risks relating to permitting and
regulatory delays and disputed mining claims, any future labor disputes
or work stoppages, the uncertainties inherent in the estimation of gold
and silver ore reserves, changes that could result from Coeur's future
acquisition of new mining properties or businesses, reliance on third
parties to operate certain mines where Coeur owns silver production and
reserves, the loss of any third-party smelter to which Coeur markets
silver and gold, the effects of environmental and other governmental
regulations, the risks inherent in the ownership or operation of or
investment in mining properties or businesses in foreign countries,
Coeur's ability to raise additional financing necessary to conduct its
business, make payments or refinance its debt, as well as other
uncertainties and risk factors set out in filings made from time to time
with the United States Securities and Exchange Commission, and the
Canadian securities regulators, including, without limitation, Coeur's
reports on Form 10-K and Form 10-Q and Exhibit 99.2 to Coeur's Current
Report on Form 8-K filed June 25, 2012. Actual results, developments and
timetables could vary significantly from the estimates presented.
Readers are cautioned not to put undue reliance on forward-looking
statements. Coeur disclaims any intent or obligation to update publicly
such forward-looking statements, whether as a result of new information,
future events or otherwise. Additionally, Coeur undertakes no obligation
to comment on analyses, expectations or statements made by third parties
in respect of Coeur, its financial or operating results or its
securities.
About Coeur
Coeur d'Alene Mines Corporation is the largest U.S.-based primary silver
producer and a growing gold producer. The Company built and commenced
production from three wholly-owned, long-lived mines between 2008 and
2010: the San Bartolom� silver mine in Bolivia, the silver-gold mine in
Mexico and the Kensington gold mine in Alaska. Further production has
commenced from a new heap leach pad at Coeur's long-time Rochester
silver-gold mine in Nevada. The Company also owns and operates the
Martha silver-gold mine in Argentina and owns a non-operating interest
in a silver-base metal mine in Australia. Coeur conducts ongoing
exploration activities near and within its operating properties in
Argentina, Mexico, Alaska, Nevada and Bolivia. In addition, Coeur holds
or has agreed to hold strategic minority investments in seven silver and
gold development companies in North and South America.
Source: Coeur d'Alene Mines Corporation
Coeur d'Alene Mines Corporation
Stefany Bales, Director of
Corporate Communications
208-667-8263
or
Tom Angelos,
Senior Vice President & Chief Compliance Officer
208-665-0337
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