Las Vegas Sun

November 26, 2014

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Goldcorp, Barrick selling Marigold mine for $275 million

Goldcorp and Barrick Gold said they are selling a jointly-owned Nevada mine to Silver Standard Resources Inc. for $275 million in cash.

The deal is expected to close in April, the companies said late Monday.

Goldcorp is the operator and owns two-thirds of the partnership that runs the Marigold mine in Humboldt County, while Barrick gold owns the other one-third.

Goldcorp CEO Chuck Jeannes said the sale is consistent with the company's efforts to focus on core assets.

On Jan. 13, Vancouver-based Goldcorp offered $2.4 billion for fellow Canadian gold company Osisko Mining Corp. Goldcorp is one of Canada's largest gold producers, and buying Osisko would give it a major mine in Quebec and other assets with growth potential. Osisko has labeled Goldcorp's bid as hostile and has taken legal action accusing Goldcorp of misusing confidential information in making its offer.

Goldcorp finished at $24.75 per share on Monday while Silver Standard shares closed at $7.69.

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