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Gold/Mining/Energy : GOLDCORP (G.A) & CSA.A

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From: Cage Rattler	7/25/2007 4:49:48 PM
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(CNCN) Goldcorp Announces Completion of Silver Wheaton Transaction July 25, 2007 4:00 p.m. VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 25, 2007) - (All figures are in US dollars unless stated otherwise) - GOLDCORP INC. (TSX:G)(NYSE:GG) has completed the previously announced sale to Silver Wheaton (TSX:SLW)(NYSE:SLW) of 25% of the life of mine silver production from Goldcorp's Penasquito project for a cash payment of $485 million. The agreement also requires Silver Wheaton to pay an ongoing per-ounce payment equal to the lesser of $3.90 (subject to annual inflationary adjustments) and the prevailing market price per ounce of silver delivered under the contract. "This transaction builds powerful leverage into the Penasquito project," said Kevin McArthur, President and Chief Executive Officer. "We are pleased to have accomplished this without risk, debt or share dilution, while preserving upside potential in this world-class asset." 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. Cautionary Note Regarding Forward-Looking Statements online.wsj.com

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