News in Brief (November 09, 1987)

A merger which would see Royal Apex Silver become part of Coeur d’Alene Mines of Idaho, subject to shareholder and regulatory approval, has been announced. Holders of Royal Apex common stock would receive one share of Coeur d’Alene common stock in exchange for each 5.45 shares of Royal Apex.

Reporting a 9-month net income this year of $6.5 million (55 cents per share), up from $6 million (51 cents per share) for the same period in 1986, is Kiena Gold Mines. Gold production to the end of September this year was 50,340 oz, down from 57,424 oz last year. Net income for the third quarter was $2.5 million, up slightly from the same period in 1986. The company says higher gold prices and lower operating expenses during the first three quarters offset a planned decline in gold output. news in brief