-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Jt75gSsXnfBp1aUs22boUs+bJj7TX/SQ3ZFS6mGGpRvpS5Bmg6vdU0hy2XfdB+Mq hgrKGRhMCOj1BeLNgiRPFQ== 0001012975-02-000117.txt : 20020416 0001012975-02-000117.hdr.sgml : 20020416 ACCESSION NUMBER: 0001012975-02-000117 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020410 GROUP MEMBERS: STONEHILL OFFSHORE PARTNERS LIMITED SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SUNSHINE MINING & REFINING CO CENTRAL INDEX KEY: 0000833376 STANDARD INDUSTRIAL CLASSIFICATION: MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400] IRS NUMBER: 752231378 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41271 FILM NUMBER: 02606747 BUSINESS ADDRESS: STREET 1: 5956 SHERRY LN STREET 2: STE 1621 CITY: DALLAS STATE: TX ZIP: 75225 BUSINESS PHONE: 2142651377 MAIL ADDRESS: STREET 1: 5956 SHERRY LN STREET 2: STE 1621 CITY: DALLAS STATE: TX ZIP: 75225 FORMER COMPANY: FORMER CONFORMED NAME: SUNSHINE HOLDINGS INC DATE OF NAME CHANGE: 19880915 FORMER COMPANY: FORMER CONFORMED NAME: SUNSHINE MINING CO /DE DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STONEHILL INSTITUTIONAL PARTNERS LP CENTRAL INDEX KEY: 0001052161 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 110 EAST 59TH STREET CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2123555200 MAIL ADDRESS: STREET 1: 126 EAST 56TH STREET STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 e60093.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 1) Sunshine Mining and Refining Company -------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------- (Title of Class of Securities) 867833-60-0 ------------ (CUSIP Number) John A. Motulsky Stonehill Capital Management LLC 126 East 56th Street - 9th Floor New York, New York 10022 (212) 739-7474 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 8, 2002 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box: [X] CUSIP No. 867833-60-0 - --------------------- 1 NAME OF REPORTING PERSON Stonehill Offshore Partners Limited S.S. or I.R.S. IDENTIFICATION NO. N.A. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A (a) [X] MEMBER OF A GROUP (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR [_] 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 11,483,635 NUMBER OF SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER 0 BENEFICIALLY OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 11,483,635 REPORTING PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY 11,483,635 OWNED BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY 24.2% AMOUNT IN ROW (11) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Stonehill Institutional Partners, L.P. S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3982121 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A (a) [X] MEMBER OF A GROUP (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR [_] 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 5,999,544 NUMBER OF SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER 0 BENEFICIALLY OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 5,999,544 REPORTING PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY 5,999,544 OWNED BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY 12.6% AMOUNT IN ROW (11) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN This statement is filed pursuant to Rule 13d-2(a) with respect to the shares of common stock ("Common Stock") of Sunshine Mining and Refining Company (the "Issuer") beneficially owned by Stonehill Offshore Partners Limited and Stonehill Institutional Partners, L.P. (collectively, the "Stonehill Entities") as of March 31, 2002 and amends and supplements the Schedule 13D filed by the Stonehill Entities dated February 5, 2001 (the "Schedule 13D"). Except as set forth herein, the Schedule 13D is unmodified. Item 2. Identity and Background - ------- ----------------------- The Stonehill Entities together own 17,483,179 shares (or 36.8 %) of Sunshine Common Stock. The Elliott Entities own an aggregate of 23,508,292 shares (or 49.6%) of Sunshine Common Stock. As a result of the Stockholders Agreement, each of the Stonehill Entities and each of the Elliott Entities may be deemed the beneficial owner of all of the shares owned by all of them for purposes of the Securities Exchange Act of 1934, as amended. Item 5. Interest in Securities of the Issuer - ------- ------------------------------------ (a) Stonehill Offshore Partners Limited owns 11,483,635 shares of Sunshine Common Stock and Stonehill Institutional Partners, L.P. owns 5,999,544 shares of Sunshine Common Stock. (b) Each of the Stonehill Entities has the sole power to vote and the sole power to dispose of the shares owned by it, subject to the terms of the Stockholders Agreement. (c) Pursuant to their rights under the Call Option Agreement dated as of February 5, 2001 with Sunshine International Mining, Inc. and Sunshine Argentina, Inc., the Stonehill Entities exercised their call options to purchase an aggregate of 434 shares (or 43.4%) of the stock of Sunshine Argentina, Inc. (which owns the Pirquitas silver mine in Argentina). The Stonehill Entities tendered an aggregate of 1,112,821 shares of Sunshine Common Stock as the purchase price therefore (730,790 shares of Sunshine Common Stock tendered by Stonehill Offshore Partners Limited and 382,031 shares of Sunshine Common Stock tendered by Stonehill Institutional Partners, L.P.) In addition, the following transactions in Sunshine Common Stock were effected by Stonehill Offshore Partners Limited and Stonehill Institutional Partners, L.P. during the past 60 days: Date Number of Shares Sold Price per Share ---- --------------------- --------------- 02/13/02 6,700 0.4100 03/15/02 25,000 0.1660 03/18/02 40,000 0.1050 03/19/02 40,000 0.1200 03/20/02 20,000 0.1000 03/22/02 30,000 0.0900 03/25/02 40,000 0.0900 03/26/02 70,000 0.0900 03/27/02 50,000 0.0900 03/28/02 155,000 0.0865 (d) None (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect - ------ ---------------------------------------------------------------------- to Securities of the Issuer. - --------------------------- The Current Report on Form 8-K dated March 6, 2002 filed by the Issuer is hereby incorporated by reference herein. SIGNATURES After reasonable inquiry and to the best knowledge and belief of each person or entity set forth below, each such person or entity certifies that the information set forth in this Statement is true, complete, and correct. STONEHILL OFFSHORE PARTNERS LIMITED By: Stonehill Advisers LLC By: s/ John A. Motulsky April 8, 2002 ---------------------------------- John A. Motulsky Member STONEHILL INSTITUTIONAL PARTNERS, L.P. By: s/ John A. Motulsky April 8, 2002 ---------------------------------- John A. Motulsky General Partner -----END PRIVACY-ENHANCED MESSAGE-----