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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: onepath who wrote (65259)5/17/2009 1:05:30 PM
From: tyc:>  Read Replies (1) of 78419
 
>>"Goldcorp also has a one-time option during the credit facility to convert its preferred stock in Terrane" into a participating interest inMt Millligan.

Thanks for posting that Onepath. I don't think it makes clear that Goldcorp's option has a time limit... it expires in January '010, just a little more than six months away. In the meantime, they await Federal approval (having already received the Provincial environmental certificate), and the update of the feasibility study. Perhaps Goldcorp's exercise of the option hinges on these two yet-to-happen events. (Although it is strange that G never mentions MtM in its future plans)

There is a presentation on the web page dated April 2009 that that provides this detail. It details how 60% and/or 100% interest in MtM would affect Goldcorp's overall costs of gold production. Quite spectacular IMHO.

terranemetals.com
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