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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (51240)12/26/2000 10:13:13 PM
From: baystock  Read Replies (1) of 436258
 
<<they sold their kaolin biz for $68 m., which means they are now debt free>>

The transaction hasn't closed yet. The buyer is Zemex corp. (ZMX) which has only $1.5 million in cash and it is not certain that they can raise the financing needed to complete this purchase. Hecla has $55 million in debt due in 3 months, at which time they will either be out of the woods debt free as you put it, or bankrupt. Take your pick.
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