IDAHO COEUR D’ALENE MINES will allow its latest offer for shares of WHEATON RIVER MINERALS to expire at 5 p.m. on Sept. 30, acknowledging that it is unlikely the required two-thirds of Wheaton shares will be tendered. Shares already tendered will be returned. Earlier this week Coeur received regulatory approval from the Canadian government.
This marks the end of a long and hotly-contested battle for Wheaton, which today announced it had received a US$86-million cash distribution from its Alumbrera copper/gold mine in Argentina. Alumbrera is now debt free and all cashflows will be available for distribution to its shareholders, says Wheaton. The company expects 2006 production from all its operations will be 900,000 oz of gold equivalent. Visit the company’s website at www.WheatonRiver.com.