Goldcorp & Barrick Gold To Sell Marigold Mine Stakes - Quick Facts

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Goldcorp & Barrick Gold To Sell Marigold Mine Stakes - Quick Facts


(RTTNews.com) - Goldcorp Inc. (GG, G.TO) and their joint venture partner Barrick Gold Corp. (ABX, ABX.TO) have reached a Purchase and Sale Agreement to sell their respective interests in the Marigold mine in Humboldt County, Nevada to Silver Standard Resources Inc. (SSRI, SSO.TO). As part of the agreement, Goldcorp and Barrick would receive total consideration of $275 million cash, subject to certain closing adjustments.

Marigold is a joint venture operation between Goldcorp who is the operator and 66.7% partner and Barrick who is the 33.3% partner.

The transaction is the result of a joint sale process, whereby Goldcorp and Barrick invited multiple parties to conduct due diligence and put forth offers to purchase Marigold. The deal is likely to close in April 2014.

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Referenced Stocks: ABX , SSRI

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