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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: loantech who wrote (38858)	4/25/2007 12:37:58 PM
From: pogohere	Read Replies (2) of 78412

USA owns ~270,000 shares of ILDM, whose Lucky Friday claim is leased by Hecla. ILDM has declared a 10% stock div ex-div April 23. Pushes USA's holdings to nearly 300,000 shares out of what will be ~5.5 million total. ILDM is suing Hecla in state and federal court for failure to exploit the lease consistent with lease terms. This has failed on a "prudent mining" standard in the Idaho Supreme Court. A claim for recision of contract is pending in Idaho state court and what I believe is a motion by Hecla to dismiss is to be heard ~May 9. ILDM has a chance of surviving the motion, and if so, would put Hecla on notice that its Lucky Friday operations are in some jeopardy. USA may be interested in ILDM's other claims, including the West Independence claim, that are potentially as valuable as the Lucky Friday. Is there a buy out in this saga? Who knows?

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