Goldcorp Sells Noncore Mine Los Filos; Maintaining Fair Value Estimates
Goldcorp announced the sale of its Los Filos mine to Leagold Mining for a total consideration of $438 million. The purchase price consists of $279 million of cash, $71 million of Leagold shares, and the retention of tax receivables worth $38 million. The transaction should close in the first quarter of 2017.We think the sale price was roughly in line with the intrinsic value of Los Filos. As a result, the transaction has no impact on our fair value estimates of $19 per share and CAD 25 per sha...
Goldcorp is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. Co.'s metal properties consist of gold, silver, copper, lead and zinc.
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