The International Resource Journal: Goldcorp acquires Andean Resources

Goldcorp acquires Andean Resources
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Resource News on 03 September, 2010 08:04:00
 
IRJ Sep 3 - Goldcorp and Andean Resources today announced an agreement  whereby
Goldcorp will acquire, through a scheme of arrangement under  Australian law,
all of the outstanding shares of Andean.  The total  consideration for the
purchase of 100% of the fully diluted shares of  Andean is approximately C$3.6
billion.
Andean's principal asset  is the 100%-owned Cerro Negro gold project, an
advanced-stage,  high-grade vein system located in the Santa Cruz province of
Argentina.   Comprising 215 square kilometers, Cerro Negro currently has
reported  indicated resources of 2.54 million ounces of gold and 23.56 million 
ounces of silver.  Inferred resources total 523,000 ounces of gold and  3.12
million ounces of silver1.  Cerro Negro also contains several other  vein
structures, including the Mariana Central zone, where numerous  recent drill
intercepts have demonstrated high-grade gold and silver  over significant
widths.