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Headquartered in Vancouver, Canada, Goldcorp is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing, and reclamation. The new Goldcorp, Inc. (GG) owns and operates various gold mines - the Red Lake, Porcupine (100%), and Musselwhite gold mines (100%) in Canada, a 37.5% interest in the Alumbrera gold/copper mine in Argentina, the El Sauzal gold mine and Luismin gold/silver mines in Mexico, the Marlin gold/silver mines in Guatemala, the San Martin gold mine in Honduras, La Coipa gold/silver mine in Chile and the Marigold gold mine and the Wharf gold mine in the United States. Goldcorp also owns approximately 49%* of TSX-listed Silver Wheaton Corp., a mining company, which generates 100% of its revenue from silver production. Goldcorp is the world's lowest cost million ounce gold producer. The company has also acquired Glamis Gold Limited (GLG). With this takeover GG will have the best production profile among major gold companies. Production in 2007 is expected to approximate 2.5 million ounces of gold.
- As of Jan. 31st Goldcorp no longer owns their SLW shares. They were dispersed through a secondary offering @$14.50CND per share. Slightly below the market price on that day and well below the ATH around $19 a share. SLW traded down to about the sale price within days of the close of the trade signaling the price was correct. The 108 million shares were distributed widely and now no one entity owns 10% or more of SLW shares. This is seen as a positive for both SLW and GG.
Similar companies include Kincross Gold Company (KGC).
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