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Mines reap $10 million

SHARE Mines reap $10 million

COEUR D'ALENE, Idaho (AP) — Coeur d'Alene Mines Corp. raised $10 million through the sale of common stock to an institutional investor.

In a transaction announced late last month, the investor purchased more than 8 million shares for $1.23 each. The money from the sale will be used for general corporate purposes, which could include payments on debt, company officials said.

The purchaser also has an option, exercisable in 30 days, to buy an additional 1.2 million shares, according to company officials.