VANCOUVER – Goldcorp has sold its 10.1% equity interest in Osisko Mining of Montreal for $530 million. The sale consisted of approximately 38.6 million common shares at a gross price of $13.75 each.
“The proceeds from this sale will be used to fund the development of Goldcorp’s existing project pipeline,” company president and CEO Chuck Jeannes said in a press release. “With over $1 billion in cash and forecast cash flows of nearly $2.5 billion at current metal prices in 2011, we have the required liquidity to fund our exceptional growth profile.”
The Goldcorp pipeline includes projects throughout the Americas. Pueblo Viejo in the Dominican Republic (2011 start-up), Cochenour in Ontario (2014) Cerro Negro in Argentina (2013) and Eleanore in Quebec (2014) are all under construction. El Morro in Chile (2015) and Camino Rojo in Mexico (2014) have reached the feasibility stage. Still in the scoping stage are Cerro Blanco in Guatemala, Noche Buena and the Penasquito underground in Mexico, and an open pit at Red Lake in Ontario.
Learn more about all these properties in Goldcorp’s latest presentation posted at www.Goldcorp.com.