Cda Mines Sells Flexaust, Livengood

Wed., May 3, 1995

From Staff And Wire Reports

Coeur d’Alene Mines Corp. Tuesday announced the sale of two companies it had bought in 1991 when it merged with Callahan Mining Co.

The company sold the Flexaust Co. to subsidiaries of the German firm Schauenburg GmbH. Flexaust, a flexible hose and tubing manufacturer based in Amesbury, Mass., for $9.6 million.

Coeur d’Alene Mines also sold Livengood Placers Inc., which controls a placer or surface gold mining operation near Fairbanks, Alaska. A firm affiliated with Alaska Placer Development Inc. bought Livengood for $580,000.

Livengood also paid Coeur d’Alene Mines’ Callahan division a dividend of $650,000 before its sale to Alaska Placer, the company said.

The sale of both companies helps Coeur d’Alene Mines focus more on developing its gold and silver mine properties, said Dennis E. Wheeler, chief executive for the company.

Coeur d’Alene Mines expects to show a pre-tax gain of $4.4 million during the second quarter of 1995.

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Cda Mines Sells Flexaust, Livengood

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