U.S. Silver Corp says evaluating Hecla's C$110.7 mln hostile bid

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U.S. Silver Corp says evaluating Hecla's C$110.7 mln hostile bid

posted on Jul 26, 2012 07:59AM

Things are heating up in our sector. DCFM.

July 26 (Reuters) - U.S. Silver Corp, which has agreed to be bought by RX Gold & Silver Inc, said it was evaluating a hostile offer from Hecla Mining Co.

Hecla on Wednesday made an all-cash offer of C$110.7 million ($108.59 million) for U.S. Silver. Hecla said its C$1.80-per-share offer was better than the "imputed offer price" of C$1.41 under the RX Proposal.

"The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms," U.S. Silver said in a statement on Thursday.

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