Goldcorp (TSX: G; NYSE: GG) has become the second gold miner in less than a year to take a strategic stake in Gold Standard Ventures (TSXV: GSV; NYSE: GSV) and its Railroad land package in Nevada.
The gold major is acquiring 16.1 million common shares at a price of $1.00 per share in exchange for about a 9.9% stake in the junior, which has amassed the second largest land package on the Carlin Trend after Newmont Mining (NYSE: NEM).
The private placement follows an investment by OceanaGold (TSX: OGC; ASX: OGC) in May 2015, in which the miner acquired a 14.9% stake in Gold Standard Ventures in exchange for $16.2 million. The Australia-headquartered company also has the right to acquire up to 19.9% of the junior.
Read the complete article at NorthernMiner.com/news/goldcorp-gold-standard