Canadian Mining Journal

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FINANCIAL BOON Goldcorp to go shopping

VANCOUVER - GOLDCORP has entered into a US$500 million credit facility through a syndicate of lenders comprised of ...


VANCOUVER – GOLDCORP has entered into a US$500 million credit facility through a syndicate of lenders comprised of The Bank of Nova Scotia, Bayerische Hypo-und Vereinsbank AG, Societe Generale, Bank of Montreal and Royal Bank of Scotland. The revolving facility is available to finance acquisitions and for general corporate purposes, and is unsecured. Amounts drawn down are required to be refinanced or repaid by July 29, 2010.

Ian Telfer, president and CEO of Goldcorp stated, “This US$500 million facility, combined with a present cash balance of over US$400 million, will allow Goldcorp to acquire additional gold assets for cash and continue its growth path.”

On Aug. 3, Goldcorp declared its eighth monthly dividend for 2005. Shareholders of record on Aug. 17 will be entitled to receive a payment of $0.15/share on Aug. 26, 2005. At 2 p.m. on Aug. 3, shares of the company were trading at 21.04 on the TSX.

Goldcorp, owner of the richest gold mine in the world and among its lowest-cost producers, maintains its website at www.Goldcorp.com.


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