Reading some of the news out and have to post this
http://www.bloomberg.com/news/2010-09-03/goldcorp-says-will-buy-andean-resources-for-about-3-4-billion.html
Andean Climbs
Andean climbed C$1.95, or 41 percent, to C$6.76 at 11 a.m. in Toronto. Goldcorp fell C$1.73, or 3.7 percent, to C$44.45, and Eldorado declined 87 cents, or 4.2 percent, to C$19.66.
There have been 290 gold deals worth at least $38.4 billion this year, according to data compiled by Bloomberg. Bullion advanced to a record $1,266.50 in New York in June and is set for a 10th straight annual gain, the longest winning streak since at least 1920, attracting investment by fund managers including George Soros and John Paulson.
The Cerro Negro project is “expected to generate significant gold production at low cash operating costs following a relatively short construction period,” Goldcorp Chief Executive Officer Chuck Jeannes said in the statement.
Cerro Negro has reported indicated resources of 2.54 million ounces of gold and 23.56 million ounces of silver, according to Goldcorp. That indicates Goldcorp is paying $1,339 an ounce for the asset, higher than the $1,250.95 price that gold closed at yesterday in London.
‘Exploration Potential’
“Goldcorp is betting on the exploration potential of Cerro Negro,” said UBS AG analyst Jo Battershill. “I believe there are 10 million ounces there.”
Anything sound familiar with GBB
I know we are not quit in the same league, just about producing and compliant ounces, but wow, you got to think good things are coming if we get some more good news.
By the way if we have 2 mill ou for sure, @ $350.00 an ou puts us at $5.60 a share .
