MIPS Strikes Deal With Bridge Crossing and 1 Hot Stock Attracting Investor Attention
Coeur d`Alene Mines Corporation (NYSE:CDE): Coeur d`Alene Mines Corporation expects fiscal year 2012 production to total 18.5 – 19.0 million silver ounces and 215,000 – 225,000 gold ounces. Cash operating costs are expected to be approximately $7.50 per silver ounce. The Company expects cash operating costs per ounce of gold at Kensington to average approximately $1,350 for the fiscal year.
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MIPS Technologies Inc. (NASDAQ:MIPS): MIPS Technologies Inc. announced that they have entered into separate definitive agreements with Bridge Crossing LLC, an acquisition vehicle of Allied Security Trust, or AST, and Imagination Technologies Group PLC with net proceeds of approximately $7.31 per share in cash to each holder of MIPS common stock. The total value of the transaction represents a 40% premium to the closing price on April 11, the day prior to the first public rumor of a potential sale of MIPS. Bridge Crossing will acquire 498 of MIPS’s total 580 patent assets for gross proceeds of $350 million. MIPS will keep the remaining 82 patent properties that are directly relevant and key to the MIPS structure and will also be granted a royalty-free perpetual license under all of the patent properties sold to Bridge Crossing. MIPS will also provide a restricted license to Bridge Crossing under the 82 retained patent properties. Subject to consummation of the Bridge Crossing transaction, Imagination will acquire the operating business of MIPS, the 82 mentioned patent properties, and license rights to all of the remaining patent properties of MIPS for $60 million. Both transactions are subject to customary closing conditions, including the approval of MIPS’ shareholders who will vote separately on each of the transactions. Approval of the Bridge Crossing transaction is not subject to shareholder approval of the Imagination acquisition. The proceeds of the transactions, which are subject to a hold back of approximately $100 million to cover tax and other liabilities, will be distributed on a pro-rata basis through a recapitalization of MIPS common stock to MIPS shareholders .