Kinross/Goldcorp Gold/Silver Asset Swap is a 'Win-Win'

Source: Mineweb  (9/27/07)

...The swap increases Goldcorp's reserves by 5.6 million ounces at an estimated acquisition cost of $37/oz.

The asset swap between Canadian-based gold miners Kinross Gold and Goldcorp is a "win-win for both companies," a top Goldcorp executive told Mineweb Wednesday.

The two companies announced Wednesday they had entered into a binding agreement, which allows Goldcorp to acquire Kinross's 49% share of the Porcupine gold mine in northeastern Ontario, and Kinross's 39% share of the Musselwhite gold mine in northwestern Ontario.

Meanwhile, Kinross will gain Goldcorp's stake in the La Coipa silver-gold mine in Chile and $200 million in cash.

...The swap increases Goldcorp's reserves by 5.6 million ounces at an estimated acquisition cost of $37/oz...

Related Articles

The Gold Report The Gold Report