UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(RULE 13d - 102)
Information to be included in statements filed pursuant to
13d-1(b), (c) and (d) and amendments thereto filed pursuant to
13d-2(b)
(Amendment No. _______)*
Sunshine Mining and Refining Company
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
867833105
(CUSIP Number)
Stephen M. Schultz, Esq., Kleinberg, Kaplan, Wolff & Cohen,
P.C., 551 Fifth Avenue, 18th Floor, New York, New York 10176,
Tel: (212) 986-6000
Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 7, 1998
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
- - Rule 13d-1(b)
- - Rule 13d-1(c)
- - Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures
provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however,
see the Notes).
(Continued on the following pages)
(Page 1 of 10)
<PAGE>
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Elliott Associates, L.P., a Delaware Limited
Partnership
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) -
(b) -
SEC USE ONLY
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
SOLE VOTING POWER
1,705,000
SHARED VOTING POWER
0
SOLE DISPOSITIVE POWER
1,705,000
SHARED DISPOSITIVE POWER
0
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,705,000
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* -
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.61%
TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.<PAGE>
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Westgate International, L.P., a Cayman Islands
Limited Partnership
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) -
(b) -
SEC USE ONLY
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
SOLE VOTING POWER
0
SHARED VOTING POWER
18,529,785
SOLE DISPOSITIVE POWER
0
SHARED DISPOSITIVE POWER
18,529,785
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,529,785
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* -
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.66%
TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.<PAGE>
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Martley International, Inc., a Delaware
corporation
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) -
(b) -
SEC USE ONLY
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
SOLE VOTING POWER
0
SHARED VOTING POWER
18,529,785
SOLE DISPOSITIVE POWER
0
SHARED DISPOSITIVE POWER
18,529,785
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,529,785
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* -
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.66%
TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.<PAGE>
ITEM 1(a).Name of Issuer:
Sunshine Mining and Refining Company
Item 1(b).Address of Issuer's Principal Executive Offices:
877 W. Main Street, Suite 600
Boise, Idaho 83702
Item 2(a).Name of Person Filing:
The names of the persons filing this statement on Schedule
13G are: Elliott Associates, L.P., a Delaware limited
partnership, and its wholly-owned subsidiaries
("Elliott"), Westgate International, L.P., a Cayman
Islands limited partnership ("Westgate"), and Martley
International, Inc., a Delaware corporation ("Martley")
(the "Reporting Persons"). Paul E. Singer ("Singer") and
Braxton Associates, L.P., a Delaware limited partnership
("Braxton LP"), which is controlled by Singer, are the
general partners of Elliott. Hambledon, Inc., a Cayman
Islands corporation ("Hambledon"), is the sole general
partner of Westgate. Martley is the investment manager
for Westgate. Martley expressly disclaims equitable
ownership of and pecuniary interest in any Common Stock.
Item 2(b).Address of Principal Business Office or, if None,
Residence:
ELLIOTT
The business address of Elliott is 712 Fifth Avenue,
36th Floor, New York, New York 10019.
SINGER
The business address of Singer is 712 Fifth Avenue, 36th
Floor, New York, New York 10019.
BRAXTON LP
The business address of Braxton LP is 712 Fifth Avenue,
36th Floor, New York, New York 10019.
WESTGATE
The business address of Westgate is Westgate
International, L.P., c/o Midland Bank Trust Corporation
(Cayman) Limited, P.O. Box 1109, Mary Street, Grand
Cayman, Cayman Islands, British West Indies.
HAMBLEDON
The business address of Hambledon is Hambledon,
Inc., c/o Midland Bank Trust Corporation (Cayman)
Limited, P.O. Box 1109, Mary Street, Grand Cayman,
Cayman Islands, British West Indies.
MARTLEY
The business address of Martley is 712 Fifth Avenue, 36th
Floor, New York, New York 10019.
Item 2(c).Citizenship:
Elliott is a limited partnership formed under the laws of
Delaware.
Westgate is a limited partnership formed under the laws of
the Cayman Islands, British West Indies.
Martley is a corporation formed under the laws of
Delaware.
Item 2(d).Title of Class of Securities
Common Stock, $.01 par value (the "Common Stock")
Item 2(e).CUSIP Number: 867833105
Item 3. If This Statement is Filed Pursuant to Rule 13d-
1(b), or 13d-2(b) or (c), Check Whether the Person
Filing is a:
(a)- Broker or dealer registered under
Section 15 of the Exchange Act.
(b)- Bank as defined in Section 3(a)(6) of
the Exchange Act.
(c)- Insurance company defined in Section
3(a)(19) of the Exchange Act.
(d)- Investment company registered under
Section 8 of the Investment Company Act.
(e)- An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E).
(f)- An employee benefit plan or endowment
fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g)- A parent holding company or control
person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h)- A savings association as defined in
Section 3(b) of the Federal Deposit Insurance Act.
(i)- A church plan that is excluded from the
definition of an investment company under Section
3(c)(14) of the Investment Company Act;
(j)- Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box -
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount beneficially owned:
Elliott beneficially owns $1,705,000 principal
amount of the Issuer's 8% Debentures which are
convertible into 1,705,000 shares of Common Stock.
Westgate and Martley together beneficially own
$16,690,000 principal amount of the Issuer's 8%
Debentures, which are convertible into 16,690,000
shares of Common Stock, and warrants to purchase
1,839,785 shares of Common Stock.
(b) Percent of class:
Elliott's beneficial ownership of 1,705,000 shares
of Common Stock constitutes .61% of all of the
outstanding shares of Common Stock.
Westgate and Martley's aggregate beneficial
ownership of 18,529,785 shares of Common Stock,
constitutes 6.66% of all of the outstanding shares
of Common Stock.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Elliott has sole power to vote or
direct the vote of 1,705,000 shares of Common
Stock.
(ii) Shared power to vote or to direct the vote
Westgate and Martley together have shared power
to vote or direct the vote of 18,529,785 shares of
Common Stock.
(iii) Sole power to dispose or to direct the
disposition of
Elliott has sole power to dispose or
direct the disposition of 1,705,000 shares of
Common Stock.
(iv) Shared power to dispose or to direct the
disposition of
Westgate and Martley together have
shared power to dispose or direct the disposition
of 18,529,785 shares of Common Stock.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as
of the date hereof the Reporting Persons have ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by
the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the
Group.
See Item 2(a) above.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below the undersigned certifies that, to the
best of its knowledge and belief, the securities referred to
above were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having
that purpose or effect.<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge
and belief, each of the undersigned certifies that the
information with respect to it set forth in this statement is
true, complete, and correct.
Dated: January 8, 1999 ELLIOTT ASSOCIATES, L.P.
By: /s/ Paul E. Singer
Paul E. Singer
General Partner
WESTGATE INTERNATIONAL, L.P.
By: Martley International,
Inc.,
as Investment Manager
By: /s/ Paul E. Singer
Paul E. Singer
President
MARTLEY INTERNATIONAL, INC.
By: /s/ Paul E. Singer
Paul E. Singer
President
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on
Schedule 13G with respect to the Common Stock of Sunshine Mining
and Refining Company dated January 8, 1999 is, and any further
amendments thereto signed by each of the undersigned shall be,
filed on behalf of each of the undersigned pursuant to and in
accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Dated: January 8, 1999 ELLIOTT ASSOCIATES, L.P.
By: /s/ Paul E. Singer
Paul E. Singer
General Partner
WESTGATE INTERNATIONAL, L.P.
By: Martley International,
Inc.,
as Investment Manager
By: /s/ Paul E. Singer
Paul E. Singer
President
MARTLEY INTERNATIONAL, INC.
By: /s/ Paul E. Singer
Paul E. Singer
President
