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Strategies & Market Trends : Ride the Tiger with CD

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To: czechmate who wrote (207826)12/16/2011 4:36:12 PM
From: pocotrader   of 312813
 
Coeur Rochester Receives Notice of Claim Dispute
Coeur d’Alene Mines Corporation (NYSE:CDE) (TSX:CDM) reports that Rye Patch Gold Corp. has challenged Coeur’s ownership of a substantial portion of its unpatented claims at its Rochester property located in northern Nevada. On December 5, 2011, Coeur filed a legal complaint in Pershing County, Nevada asserting that its unpatented claims are valid and that it has a valid possessory interest in such claims. The Company is seeking damages and an injunction preventing Rye Patch Gold from interfering with its claims.

The Company continues to review this matter and intends to vigorously defend its rights. The Company cannot predict the outcome of this matter, including legal outcomes and the likelihood of diminishment of its Rochester property package. However, the Company preliminarily estimates that the disputed claims may involve up to 20 percent of the Rochester property’s mineral reserves and a substantial amount of the property’s mineralized material.

At this time, operating activities at Rochester continue. Through the first nine months of 2011, Rochester produced approximately 1.0 million ounces of silver and 4,283 ounces of gold.
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