Coeur to Allow Wheaton River Offer to Expire
September 28 2004 - 8:03PM
PR Newswire (US)
Coeur to Allow Wheaton River Offer to Expire Postpones Special
Shareholder Meeting COEUR D'ALENE, Idaho, Sept. 28
/PRNewswire-FirstCall/ -- Coeur d'Alene Mines Corporation
(NYSE:CDE) today announced that it expects to allow its tender
offer to acquire all of the outstanding shares of Wheaton River
Minerals Ltd. (TSX: WRM; Amex: WHT) to expire at 5:00 pm EST on
September 30, 2004. The Company does not expect its current offer
to meet the condition that 66 2/3% of outstanding Wheaton River
shares be tendered into the offer. Dennis E. Wheeler, Chairman and
Chief Executive Officer of Coeur d'Alene, said, "Further increasing
the consideration payable under the present offer terms would not
be in the best interest of our Coeur shareholders. We greatly
appreciate the strong support we have received from our
shareholders, as well as the support from many Wheaton River
shareholders. We also appreciate that Institutional Shareholder
Services, an independent advisory firm, supported our proposals and
recognized the strategic and financial merits of this combination."
"Coeur will continue with its plans to grow shareholder value,"
continued Mr. Wheeler. "We expect to make construction decisions on
our two development projects - the San Bartolome silver project and
the Kensington gold project - by the end of the year. In addition,
we remain focused on reducing costs at our existing operations and
pursuing both internal and select external growth opportunities."
Assuming the minimum tender condition is not met, Coeur intends to
return any shares tendered pursuant to the offer promptly after the
expiration of the offer in accordance with applicable law. Coeur
also announced that it will postpone indefinitely the Special
Meeting of Coeur Shareholders previously scheduled for 11:00 am
local time on September 30, 2004. Coeur d'Alene Mines Corporation
is the world's largest primary silver producer, as well as a
significant, low-cost producer of gold. The Company has mining
interests in Nevada, Idaho, Alaska, Argentina, Chile and Bolivia.
Cautionary Statement This document contains numerous
forward-looking statements relating to the Company's silver and
gold mining business. Such statements are subject to numerous
assumptions and uncertainties, many of which are outside the
Company's control. Operating, exploration and financial data, and
other statements in this document are based on information the
Company believes reasonable, but involve significant uncertainties
as to future gold and silver prices, costs, ore grades, estimation
of gold and silver reserves, mining and processing conditions, the
completion and/or updating of mining feasibility studies, changes
that could result from the Company's future acquisition of new
mining properties or businesses, the risks and hazards inherent in
the mining business (including environmental hazards, industrial
accidents, weather or geologically related conditions), regulatory
and permitting matters, risks inherent in the ownership and
operation of, or investment in, mining properties or businesses in
foreign countries, as well as other uncertainties and risk factors
set out in the Company's filings from time to time with the SEC,
including, without limitation, the Company's reports on Form 10-K
and Form 10-Q. Actual results and timetables could vary
significantly from the estimates presented. Readers are cautioned
not to put undue reliance on forward-looking statements. The
Company disclaims any intent or obligation to update publicly these
forward-looking statements, whether as a result of new information,
future events or otherwise. This communication is neither an offer
to purchase nor a solicitation of an offer to sell shares of
Wheaton River or Coeur. Coeur's offer to purchase is being made to
Wheaton River shareholders only pursuant to tender offer material
as required by applicable law. This communication also is not a
solicitation of proxies from any securities holder of Coeur or
Wheaton River. Coeur has filed with the U.S. Securities and
Exchange Commission a Registration Statement on Form S-4 and a
Schedule TO and has filed the Canadian offer materials with
Canadian securities regulators. Coeur also has filed a registration
statement on Form S-4, which contains a combined proxy
statement/prospectus relating to a special meeting of Coeur
shareholders to consider certain matters relating to the proposed
Coeur-Wheaton River combination and includes information regarding
the participants in the related proxy solicitation. YOU ARE URGED
TO READ THE REGISTRATION STATEMENT, THE SCHEDULE TO, THE OFFER AND
CIRCULAR MAILED TO WHEATON SHAREHOLDERS AND ANY OTHER RELEVANT
DOCUMENTS, INCLUDING PROXY MATERIALS, FILED WITH THE SEC AND
CANADIAN SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. You can obtain such materials, and any
amendments and supplements thereto, (as they become available)
without charge at the SEC's website, http://www.sec.gov/ (for
materials filed with the SEC) and on SEDAR, http://www.sedar.com/
(for materials filed with Canadian securities regulators). In
addition, you may obtain documents filed by Coeur with the SEC and
the Canadian securities regulators by requesting them in writing
from, 400 Coeur d'Alene Mines Building, 505 Front Avenue, Coeur
d'Alene, Idaho 83814, Attn: Investor Relations, tel: (208)
667-3511. Contacts: James A. Sabala Chief Financial Officer
208-769-8152 Mitchell J. Krebs Vice President Of Corporate
Development 773-255-9808 Tony Ebersole Investor Relations
800-523-1535 Judith Wilkinson / Matthew Sherman Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449 Dan Burch / Steve Balet
MacKenzie Partners, Inc. 212-929-5500 Matthew Sherman of Joele
Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, or Dan Burch /
Steve Balet of acKenzie Partners, Inc., +1-212-929-5500, all for
Coeur d'Alene Mines Corporation DATASOURCE: Coeur d'Alene Mines
Corporation CONTACT: James A. Sabala, Chief Financial Officer,
+1-208-769-8152, or Mitchell J. Krebs, Vice President Of Corporate
Development, +1-773-255-9808, both of Coeur d'Alene Mines
Corporation; or Investor Relations, Tony Ebersole, +1-800-523-1535,
for Coeur d'Alene Mines Corporation; or Judith Wilkinson Web site:
http://www.coeur.com/
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