Globe says Goldcorp should be hungry for assets in 2010
2009-12-30 09:00 ET - In the News
The Globe and Mail reports in its Tuesday edition that because interest rates are so darn low these days,
holding a vast cash horde can be a negative for a company if the money is not put profitably to work.
The Globe's Andrew Willis writes that many senior players have amassed large cash hordes in the past two years,
a cautious stance that reflected the recession and stormy credit markets.
Looking ahead, Mr. Willis says there will be pressure to stop stockpiling cash and start building profits.
He says in 2010 strong companies, with bulging pockets, will feast on weaker rivals.
Barrick Gold may be the big dog, but Goldcorp is hungrier and has the better takeover currency, in the form
of a stock that trades at a premium valuation.
The Vancouver-based company's board is also acquisition-savvy, and chairman Ian Telfer is the new head
of the World Gold Council, which promises all sorts of new relationships.
Goldcorp is the logical buyer of junior mining.
The inside poopmeister expects Goldcorp will be part of a feeding frenzy of junior
and mid-tier acquisitions.
Rob McEwen, Goldcorp founder sees $5000 gold
Goldcorp Inc. founder Rob McEwen, who has more than $100 million in goldinvestments,said he expects
themetal to top $5,000 an ounce as governments increase the money supply tocombat recession. Bullion will more than double to$2,000 an ounce bythe end of next year before rising to McEwen’s target by the end of thecycle, which could take an additional four years, theinvestor said. “Politicians around the world are listening to cries from their electorates and they’re giving money to all callers,” McEwen said yesterday in a telephone interview from Toronto. McEwen, who founded what is now the world’s second-largest goldproducerbymarket value, owns stakes in three Canadianprecious-metal explorers worth more than $100 million. He said he alsohas a “big, big” holdingin bullion. Goldgained for the eighth straight year in 2008 amid investor concern theeconomy would collapse and government efforts to prevent that wouldincrease inflation
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Vancouver Resource Investment Conference - January 17 & 18, 2010
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Hyatt & Fairmont Conference Hotels, Vancouver, BC
NEW LOCATION for JAN 2010 ONLY
Conference Registration | Agenda | Hotel & Travel | Floorplan
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Vancouver 2010: Exhibitors & Sponsors
Welcome to visit us for more info at H80
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Conquest Resources Ltd. CQR - TSX - H80
"CONQUEST & GOLDCORP CHALLENGE"
Goldcorp Inc. (TSX:G)(NYSE:GG) provided highlights of its successful $110 million 2009 exploration program.
- Red Lake High Grade Zone Continues at Depth.
Several assay intervals in excess of 60 grams per tonne in the deep High Grade Zone-
support the strong potential for gold resource to reserve conversion between the 46 and 50 levels,
as well as for new gold resources belowthe 50 level.
A new and growing area of high grade gold called the FarEast Zone
has also been identified up-plunge from the High Grade Zone.
In the under-explored Party Wall area ("R Zone") between Campbell and
the Red Lake,
strong results from the deepest drilling will direct an aggressive exploration campaign in 2010.
The new and growing area of high grade gold called the FarEast Zone -
conquestresources.net
....has also been identified up-plunge from the High Grade Zone -
we see in this area of the new headframe and shaft in the background of the picture -
with a cost for Goldcorp of about $125,000,000.00 to construct -
more than $125 Million in the development beside the Conquest Alexander gold virgine property -
At the Red Lake Gold Mine -
a primary focus of exploration at Red Lake in 2009 was the early completion of the 4199 exploration drift,
enabling drilling of the deep High Grade Zone for the first time in four years.
Five assayed drill holes have been completed within the resource shape from this platform,with results
indicating the continuation of the High Grade Zone atdepth.
This year, the Company is targeting new gold reserves in the zone between the 46 and 50 levels
and new resources below the 50 level.
The 4199 exploration drift will now provide the primary exploration platform for exploration of the deep
High Grade Zone on an ongoing basis.
It will be developed progressively in order to maintain favourable drilling geometry into the area.
The Party Wall at Red Lake comprises the former boundary areabetween the Red Lake
and Campbell mines that had been previously unexplored.
Assays over the last two years have demonstrated a highgrade gold resource. Mining operations
in the shallower portions of theParty Wall have drifted toward the gold zone, with in-fill drilling
confirming the resource model.
Deep drilling of the Party Wall area tothe 38 level has resulted in some of the highest grade intercepts
todate, and will be the focus of an aggressive drill program in 2010.
Up-plunge and to the east of the Red Lake High Grade Zone lies an underexplored area
called the Far East Zone.
Assay results in 2009indicate an ore grade gold zone
at the 16 level that will continue tobe tested
as drilling moves closer to the surface.
Red Lake Drilling Results
---------------------------------------------------------------------------
Drill Approx. true
Hole Area From (m) To (m) width (m) Au (g/t)
---------------------------------------------------------------------------
D44008 High Grade Zone 49 level 360.30 365.91 4.50 931.89
---------------------------------------------------------------------------
D44004 High Grade Zone 48 level 362.41 374.29 8.11 65.83
---------------------------------------------------------------------------
D43058 High Grade Zone 49 level 322.78 325.53 2.19 120.00
---------------------------------------------------------------------------
D43059 High Grade Zone 49 level 359.36 369.94 10.58 43.89
---------------------------------------------------------------------------
D36439 R Zone 92.20 96.77 3.50 60.00
---------------------------------------------------------------------------
D41178 R Zone 663.25 670.56 4.73 45.87
---------------------------------------------------------------------------
16L1427 Far East 21.03 32.13 9.24 29.83
---------------------------------------------------------------------------
16L1426 Far East 38.40 42.67 4.00 31.70
---------------------------------------------------------------------------
GOOD LUCK AND GOD BLESS
If America is to be saved, we will have to return to a gold standard.
Until that time, if we are to be saved, then we must put our
financial assets into gold....
conquestresources.net
EX..CQR Gold virgine play bargain..beside one of the worlds richest
gold mines and lowest cost gold producers..dd....
For further information
Terence N. McKillen, President & CEO, (647) 728-4126
D. Brett Whitelaw, Vice-President, (604) 662-8633
John F. Kearney, Chairman, (416) 362-6686
Robert Kinloch, Director, (306) 343-5799
Email: info@conquestresources.net,
URL: conquestresources.net
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conquestresources.net
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