Friday, 25 April 2014

Building Goldcorp's Eleonore Mine

Interesting link from Sprott on the building of Goldcorp's Eleonore mine in Quebec.
Compare the factsheet in 2011 with $1.4bn capex vs latest estimate of $1.9bn.
Acquired from junior Virginia in 2005 for $420m (plus 2.2% NSR), relatively early in the exploration cycle, after 212 drill holes, but no fully defined resources or scoping studies, Goldcorp since developed the deposit with 600,000m of drill core. A 9 year development and build path.
Soon to be a high grade, low cost, long life asset producing 600k oz pa.

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