JOHANNESBURG (miningweekly.com) – After securing an 80.5% interest in TSX-listed Exeter Mining in June, Canadian gold mining major Goldcorp has acquired the remaining issued and outstanding Exeter shares for 0.12 of a common share of Goldcorp for each outstanding Exeter share.
Dual-listed Goldcorp will issue an aggregate of up to 1.896-million Goldcorp shares to former Exeter shareholders, who now hold 0.22% of the Goldcorp shares issued.
The Exeter shares are expected to be delisted from the TSX on August 8 and will promptly be delisted from the NYSE and the Börse Frankfurt following closing.
Goldcorp’s acquisition of Exeter is part of a series of transactions that will result in the creation of a new 50:50 joint venture (JV) between Goldcorp and Barrick Gold over a new project located in the Atacama region of Chile, which combines Barrick and Kinross Gold’s Cerro Casale project, with Exeter’s Caspiche project.
Exeter’s Caspiche project is about 10 km from Cerro Casale, which is currently a JV project between Kinross and Barrick, but will become a JV between Goldcorp and Barrick.