Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Coeur D’Alene Mines (NYSE:CDE) will be entering a trial with Rye Patch Gold US Inc., a subsidiary of Rye Patch Gold Corp (CVE:RPM), this November over unpatented mining claims.
“The legal dispute stems from competing asserted interests in certain unpatented mining claims covering federal lands near Coeur’s Rochester mining operations following Coeur Rochester’s inadvertent failure to pay 2011 annual mining claim maintenance fees,” writes Coeur D’Alene Mines in a news release.
Couer asserts that its claims are superior; Rye Patch disagrees.
“It is the position of Rye Patch Gold US Inc. that all the LH and OG claims [Rochester Property] are valid senior unpatented lode mining claims, including those claims within the court-ordered enjoined area,” writes Rye Patch in its news release.
“Geologic assessment and drilling confirm discoveries on the LH claims and the land area which covers up to 20% of Rochester’s published proven and probable silver and gold reserve along with a significant portion of the published silver and gold resource based on Coeur’s December 5, 2011.”
