UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
Apex Silver Mines, Limited
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(Name of Issuer)
Common
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(Title of Class of Securities)
G04074103
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(CUSIP Number)
December 31, 2006
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] 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 the
disclosures provided in a prior cover page.
The information required in 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).
PAGE 1 OF 4 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NWQ Investment Management Company, LLC 47-0875103
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware - U.S.A.
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5 SOLE VOTING POWER
11,985,806*
NUMBER OF -----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 17,218,180*
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,218,180*
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
29.1%*
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12 TYPE OF REPORTING PERSON*
IA
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*Reflects the reporting person's ownership as of December 31, 2006, including,
respectively, 567,121 and 611,845 shares which may be issued upon conversion of,
respectively, 16,231,000 principal amount (sole voting power) and 17,511,000
principal amount (sole dispositive power ) of 2.875% Convertible Senior
Subordinated Notes due 3/15/24 of the issuer.
PAGE 2 OF 4 PAGES
Item 1(a) Name of Issuer:
Apex Silver Mines Limited
Item 1(b) Address of Issuer's Principal Executive Offices:
Caledonian House Mary Street
Georgetown, British West Indies
Grand Cayman Island
Item 2(a) Name of Person Filing:
NWQ Investment Management Company, LLC
Item 2(b) Address of the Principal Office or, if none, Residence:
2049 Century Park East, 16th Floor
Los Angeles, CA 90067
Item 2(c) Citizenship:
Delaware - U.S.A.
Item 2(d) Title of Class of Securities:
Common
Item 2(e) CUSIP Number:
G04074103
Item 3 If the Statement is being filed pursuant to Rule
13d-1(b), or 13d-2(b), check whether the person filing
is a:
(e) [X] An investment advisor in accordance with
section 240.13d-1(b)(1)(ii)(E)
Item 4 Ownership:
(a) Amount Beneficially Owned:
17,218,180*
(b) Percent of Class:
29.1%*
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote: 11,985.806*
(ii) shared power to vote or direct the vote: 0
(iii) sole power to dispose or to direct the disposition
of: 17,218,180*
(iv) shared power to dispose or to direct the
disposition of:
0
Item 5 Ownership of Five Percent or Less of a Class:
Not applicable.
PAGE 3 OF 4 PAGES
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
Securities reported on this Schedule 13G are
beneficially owned by clients of NWQ Investment
Management Company, which clients may include investment
companies registered under the Investment Company Act
and/or employee benefit plans, pension funds, endowment
funds or other institutional and high net worth clients.
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: Not applicable.
Item 9 Notice of Dissolution of a Group:
Not applicable.
Item 10 Certification:
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired and are held in the ordinary course of
business and 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 such securities and were
not acquired in connection with or as a participant in
any transaction having such purpose or effect.
* Reflects the reporting person's ownership as of December 31, 2006, including,
respectively, 567,121 and 611,845 shares which may be issued upon conversion of,
respectively, 16,231,000 principal amount (sole voting power) and 17,511,000
principal amount (sole dispositive power ) of 2.875% Convertible Senior
Subordinated Notes due 3/15/24 of the issuer.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: January 10, 2007
NWQ Investment Management Company, LLC
By: /S/ Jon D. Bosse
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Name: Jon D. Bosse
Title: Co-President, Chief Investment Officer
PAGE 4 OF 4 PAGES