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...
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...