VANCOUVER - Shareholders of WHEATON RIVER MINERALS voted 99.9% to approve the plan of arrangement between that company and GOLDCORP. Shares of Wheaton will be delisted from the TSX and AMEX boards at the close of business on Friday, April 15, and be replaced with newly issued Goldcorp shares at a ratio of one-quarter of a Goldcorp share for each Wheaton share.
According to the press release issued this week, Goldcorp is the world's lowest-cost million-ounce gold producer, with 2005 gold production expected to exceed 1.1 million oz at a cash cost of less than US$60/oz. By 2007, gold production is expected to grow to more than 1.5 million oz. The combined company has a strong balance sheet with approximately US$450 million in cash and equivalents, and no debt.
Answers to frequently asked questions about the merger and its tax implications for investors are posted at www.Goldcorp.com.