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Stock Market & Financial Investment News

News Breaks
January 7, 2013
19:32 EDTGGGoldcorp sees 70% gold production growth by 2017
Sees gold production of 2.55M-2.8M ounces in 2013; 3.2M-3.5M ounces in 2014; 3.5M-3.8M ounces in 2015; 3.8M-4M ounces in 2016; 4M-4.2M ounces in 2017. New projects will make contributions to this growth, with first gold production forecast from new projects as follows: Cerro Negro, late 2013; Éléonore, late 2014; Cochenour, first half 2015; Camino Rojo, 2016.
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August 27, 2015
08:05 EDTGGNew Gold to sell El Morro Interest to Goldcorp for $90M and 4% gold stream
New Gold (NGD) has entered into an agreement with Goldcorp (GG) to sell New Gold's 30% interest in the El Morro project to Goldcorp in exchange for $90M in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold's $93M carried funding loan. The $90M are to be paid at closing of the transaction, expected to be in Q4. The 4% stream is on life-of-project gold production from the 417 square kilometre El Morro property, with currently estimated gold mineral reserves of 599M tons at an average gold grade of 0.46 g/T, totalling 8.9M oz. New Gold will pay a fixed $400/oz. on the first 217K ounces of gold delivered as part of the stream. New Gold will no longer be obligated to repay the $93M in debt that Goldcorp funded on the company's behalf. Goldcorp and Teck Resources (TCK) plan to combine their respective El Morro and Relincho projects into a 50/50 joint venture with the interim name of Project Corridor. Goldcorp and Teck are expecting to commence a Pre-Feasibility Study in early 2016 which should be completed 12 to 18 months thereafter.
08:03 EDTGGGoldcorp, Teck Resources combine El Morro, Relincho projects in Chile
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