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 Reports and Commentary from the Investment World

Reports and commentaries are posted here on a regular basis.


Gold Corp Inc



Goldcorp, Inc. was founded in 1954 and is headquartered in Vancouver, Canada.

Goldcorp is one of the world's lowest-cost and fastest growing multi-million ounce gold producers with operations throughout the Americas.  Its gold production remains 100% unhedged.
Goldcorp, Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in the Americas and Australia. It focuses on gold, silver, and copper.  The company owns a 100% interest in the Red Lake gold mine comprising the Red Lake Complex and the Campbell Complex in Canada; the Penasquito gold project, the San Dimas gold-silver mine, the Nukay gold-silver mine, the Los Filos gold project, and the El Sauzal gold mine in Mexico; and the Marlin
gold-silver mine in Guatemala.  It also owns a 100% interest in the Peak gold mine in Australia, the Amapari gold mine in Brazil, the Wharf gold mine in the United States, the Eleonore gold project in Quebec, the Cerro Blanco gold project in Guatemala, and the Imperial gold exploration project in the United States.  In addition, the company has a 37.5% interest in the Bajo de la Alumbrera gold-copper mine located in Argentina, a 40% interest in the Pueblo Viejo gold development stage project in the Dominican Republic, a 68% interest in the Musselwhite gold mine in Canada, a 66 2/3% interest in the Marigold gold mine in the United States, a 50% interest in the La Coipa gold-silver mine in Chile, and a 51% interest in the Porcupine gold mine in Canada.  Further, it holds a 50% interest in the La Coipa gold-silver mine located in Chile, a 21.2% interest in the El Limon gold exploration project in Mexico, a 40% interest in the South Arturo gold exploration project inthe United States, and a 35% interest in the San Nicolas zinc-copper exploration project in Mexico.  The company has joint
ventures with Barrick Gold Corporation, Teck Cominco, Ltd., Northern Orion, and Xstrata.
Gold Corp just announced that it has completed the transaction with Kinross Gold Corporation to acquire Kinross' 49% share of the Porcupine gold mines in northeastern Ontario and its 32% share of the Musselwhite gold mine in northwestern Ontario.
In exchange, Kinross received Goldcorp's 50% stake in the La Coipa silver-gold mine in Chile and $200 million in cash.
Goldcorp Ihas also just announced a regular monthly dividend of 1.5 cents per share. The gold producer will pay the dividend on December 28th to shareholders on record on December 21st 2007.  So, we have just missed out on this dividend, but the prospects for gold and Gold Corp look rosy for the next year or two.

For a while, Goldcorp was regarded as not the best among the majors because it was doing such a good job.  It was so profitable that it didn’t have much leverage to the rising gold price.  However, with recent changes in costs for major projects and the perception of profitability after the great Galore Creek fiasco (Barrick/NovaGold), a lot of people are thinking that maybe a more profitable company like Goldcorp is a good addition to their portfolios. This stock has returned in excess of 20% per annum over the last 10 years. We believe it will glitter again in 2008.




Disclaimer: All the information above is provided as a service for individuals and institutions. It should in no way be construed as a recommendation as an investment. Investment decisions should be based on the risk tolerance and planning horizon of the investor. Market participants must understand that past performance is also not a guarantee or predictor of future results.