I took your warning about HL seriously and was in the process of diversifying from some HL options to CDE options and the big drop last week confused me and I didn't get it done.
Today HL is being slaughtered while CDE exploded and I was too late.
Well, thanks for the heads up anyway.
Coeur d’Alene Basin Litigation
The negotiators representing Hecla, the United States, the Coeur d’Alene Indian Tribe, and the State of Idaho with respect to the Coeur d’Alene Basin environmental litigation and related claims have reached an understanding on proposed financial terms to be incorporated into a comprehensive settlement that would contain additional terms yet to be negotiated.
“Determining the financial terms of any settlement of this longstanding litigation is an important step forward in finally resolving this dispute,” said Mr. Baker. “While the cost is significant, we believe the terms are consistent with both our current plans and adding opportunities that will allow Hecla to grow further. We hope a final settlement can be achieved by the end of the second quarter.”
On February 18, 2011, the Idaho Federal District Court issued an Order giving the parties to the litigation until April 15, 2011 to inform the Court of the status of settlement negotiations. During this time period, the negotiators will work towards finalizing and agreeing to the settlement terms, followed by a recommendation for approval to their respective parties. If the parties are able to complete terms of settlement, it is expected that a Consent Decree would be lodged, followed by a public comment period of 30 days and a period for responses to those public comments. The Consent Decree would also require approval by the Idaho Federal District Court. If the Consent Decree is entered, Hecla would make the following payments:
$102 million of cash and $55.5 million of cash or stock 30 days after entry of the Consent Decree
$25 million of cash 30 days after the first anniversary of entry of the Consent Decree
$15 million of cash 30 days after the second anniversary of entry of the Consent Decree
$65.9 million by August 2014, as quarterly payments of the proceeds from the exercise of any outstanding Series 1 and Series 3 warrants (which have an exercise price of between $2.45 and $2.50 per share) during the quarter, with the balance of the $65.9 million due in August 2014 (regardless of the amount of warrants that have been exercised)
While the negotiators have reached an understanding on proposed financial terms, no party has agreed to any of these terms as final, nor has any party represented that any of these terms are final or agreed to. There can be no assurance that a final settlement will be reached.
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