🕐04.02.10 - 15:00 Uhr
Goldcorp Secures Key Strategic Asset Near Peñasquito With Closing Of Canplats Resources Acquisition
Toronto Stock Exchange: G
New York Stock Exchange: GG
GOLDCORP SECURES KEY STRATEGIC ASSET NEAR PEASQUITO WITH CLOSING OF CANPLATS RESOURCES ACQUISITION
VANCOUVER, British Columbia, February 4, 2010 Goldcorp Inc.
(TSX: G; NYSE: GG) announced today that the acquisition of Canplats Resources has been completed, securing for Goldcorp the Camino Rojo project near its world-class Peasquito mine.
Under the plan of arrangement, each Canplats share will be exchanged for C$4.60 in cash.In addition, holders of each Canplats share will receive a distribution from Canplats of one share in a new exploration company with a notional value of C$0.20 for total consideration of C$4.80 per share, or approximately C$308.5 million.
Located approximately 50 kilometres southeast of Goldcorps Peasquito mine, Camino Rojo nearly quadruples Goldcorps total land package in a core district.Its 3,389-square kilometre land position includes the Represa Deposit1, which has reported measured and indicated resources of 3,445,000 gold ounces and 60,708,000 silver ounces.Inferred resources total 555,000 ounces of gold and 7,612,000 ounces of silver.
Like the Noche Buena deposit just north of Peasquito, the addition of Camino Rojo provides a robust, low-cost potential satellite operation that would supplement production from Peasquito and leverage important investments we have made in people, infrastructure and stakeholder partnerships, said Chuck Jeannes, Goldcorp President and Chief Executive Officer.
The exploration team at Peasquito will immediately commence a program to further define the core Represa deposit and investigate adjacent zones of sulphide mineralization.
On a regional basis, areas of interest within the Camino Rojo land package will be integrated into Peasquitos existing regional exploration program to create a rich pipeline of drill-ready targets.
Our team will then advance a new development plan for Camino Rojo that will determine the ideal approach to complementing Peasquitos very strong production profile.No gold production from Camino Rojo is included in Goldcorps current five year, 58% growth forecast.
Goldcorps financial advisors are GMP Securities L.P.; its legal advisors are Cassels Brock & Blackwell LLP in Canada and Neal, Gerber & Eisenberg LLP in the United States.
Goldcorp is the lowest-cost and fastest growing multi-million ounce gold producer with operations throughout the Americas.Its gold production remains 100% unhedged.
To read the complete news release, please see our web site at http://goldcorp.com/news/goldcorp/index.php?&content_id=758
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