Coeur Granted Court-Imposed Injunction in Rochester Claim Dispute
December 21 2011 - 8:00AM
Business Wire
Coeur d’Alene Mines Corporation (NYSE: CDE) (TSX: CDM) reports
that the state district court in Pershing County, Nevada granted,
in part, Coeur Rochester’s motion for a preliminary injunction
against Rye Patch Gold Corp. preventing Rye Patch from entering
Coeur Rochester’s active mining areas. Mining operations at the
Rochester mine site remain unencumbered by this decision and
exploration activities continue.
The court-ordered injunction remains in place until resolution
of Coeur’s legal complaint regarding certain disputed unpatented
claims. This new injunction order supersedes the Temporary
Restraining Order the judge implemented on December 5, 2011 against
Rye Patch. The underlying legal action in this case will continue
and discovery will commence with a trial expected in 2012.
While the dispute has no effect on Coeur’s Rochester mineral
reserves, it may have a minimal impact on the Rochester property’s
year-end 2010 estimated additional mineral resources. Coeur cannot
predict the outcome of this matter, including legal outcomes or the
potential for diminishment of its Rochester property package.
Cautionary Statement
This news release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding anticipated operating results. Such
statements are subject to numerous assumptions and uncertainties,
many of which are outside the control of Coeur. Operating,
production, reserves and mineralized material information regarding
the Rochester silver-gold mine, and such estimates, the outcome of
the legal and technical analysis of the Rochester property and
unpatented claims, allegations of competing unpatented property
claims and other third party characterizations, financial position
of Coeur to pursue legal and technical undertakings, length of time
to a resolution, and other statements in this release are based on
information that Coeur believes is reasonable, but involve
significant uncertainties affecting the business of Coeur,
including, but not limited to, outcome of legal action, future gold
and silver prices, costs, ore grades, estimation of gold and silver
reserves, mining and processing conditions, construction schedules,
currency exchange rates, the risks and hazards inherent in the
mining business (including environmental hazards, industrial
accidents, weather or geologically related conditions), regulatory
and permitting matters, 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. 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.
Donald J. Birak, Coeur's Senior Vice President of Exploration
and a qualified person under NI 43-101, supervised the preparation
of the scientific and technical information concerning Coeur's
mineral projects in this news release. For a description of the key
assumptions, parameters and methods used to estimate mineral
reserves and resources, as well as data verification procedures and
a general discussion of the extent to which the estimates may be
affected by any known environmental, permitting, legal, title,
taxation, socio-political, marketing or other relevant factors,
please see the Technical Reports for each of Coeur's properties as
filed on SEDAR at www.sedar.com.
Cautionary Note to U.S. Investors – The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. We use
certain terms in this presentation, such as “measured,”
“indicated,” and “inferred resources,” that are recognized by
Canadian regulations, but that SEC guidelines generally prohibit
U.S. registered companies from including in their filings with the
SEC. U.S. investors are urged to consider closely the disclosure in
our Form 10-K which may be secured from us, or from the SEC’s
website at http://www.sec.gov.
Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jul 2023 to Jul 2024