5 Jan 2015dividend declaration● Neutral
Goldcorp declared its first monthly dividend of 2015, US$0.05 per share, for holders of record January 15, 2015, payable January 23, 2015. The rate is unchanged from 2014.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Dec 2014dividend declaration● Neutral
Goldcorp declared its twelfth monthly dividend of 2014, US$0.05 per share, for holders of record December 11, 2014, payable December 19, 2014. The rate is unchanged, so 2014 ended with no dividend increase.
10 Nov 2014dividend declaration● Neutral
Goldcorp declared its eleventh monthly dividend of 2014, US$0.05 per share, for holders of record November 20, 2014, payable November 28, 2014. The rate is unchanged.
7 Nov 2014regulatory community update▼ BadMajor
Goldcorp withdrew its Environmental Impact Study for the El Morro copper-gold project in Chile after the Chilean Supreme Court on October 7, 2014 issued a final ruling invalidating the October 2013 approval (RCA 232). This ends the effort to get the permit corrected that had been pending since construction was suspended in April 2012; the filing says a team has started new studies on a new development plan that meets Goldcorp's return criteria. It states El Morro's 70% share of reserves at Dec 31, 2013 as 6.73 million ounces of gold and 4.89 billion pounds of copper, but gives no timeline, cost or write-down.
6 Oct 2014dividend declaration● Neutral
Goldcorp declared its tenth monthly dividend of 2014, US$0.05 per share, for holders of record October 16, 2014, payable October 24, 2014. The rate is unchanged.
8 Sept 2014dividend declaration● Neutral
Goldcorp declared its ninth monthly dividend of 2014, US$0.05 per share, for holders of record September 18, 2014, payable September 26, 2014. The rate is unchanged.
12 Aug 2014dividend declaration● Neutral
Goldcorp declared its eighth monthly dividend of 2014, US$0.05 per share, for holders of record August 21, 2014, payable August 29, 2014. The rate is unchanged from earlier in the year.
7 July 2014dividend declaration● Neutral
Goldcorp declared its seventh monthly dividend of 2014, US$0.05 per share, for holders of record July 17, 2014, payable July 25, 2014. The rate is unchanged.
9 June 2014dividend declaration● Neutral
Goldcorp declared its sixth monthly dividend of 2014, US$0.05 per share, for holders of record June 19, 2014, payable June 27, 2014. The rate is unchanged, so the first half of 2014 passed with no increase.
4 June 2014debt financing● NeutralMajor
Goldcorp priced US$1.0 billion of senior unsecured notes: $550 million at 3.625% due June 9, 2021 and $450 million at 5.45% due June 9, 2044, expected to close June 9, 2014, with net proceeds of about US$988 million. It says the money is for repaying the $862.5 million convertible notes maturing August 2014 and the amounts drawn under its revolving credit facility in June 2014. This is the planned refinancing of the 2009 convertibles (which the 2013 notes issue had also named as a possible use), swapping them for longer-dated debt; closing is not yet confirmed.
5 May 2014dividend declaration● Neutral
Goldcorp declared its fifth monthly dividend of 2014, US$0.05 per share, for holders of record May 15, 2014, payable May 23, 2014. The rate is unchanged.
7 Apr 2014dividend declaration● Neutral
Goldcorp declared its fourth monthly dividend of 2014, US$0.05 per share, for holders of record April 17, 2014, payable April 25, 2014. The rate is unchanged from the first three months of the year.
4 Apr 2014asset acquisition disposition▲ GoodMajor
Goldcorp and Barrick completed the sale of the Marigold mine in Nevada to Silver Standard Resources, with $275 million total consideration paid at closing. Goldcorp was operator and 66.7% owner (Barrick 33.3%); the split of the price is not stated. This closes the Feb 2014 agreement, and the CEO called it part of focusing on core assets.
3 Apr 2014business combination● NeutralMajor
Goldcorp said it is still doing due diligence at Osisko's Malartic mine and will decide its position and update shareholders after analysing the findings; it is also analysing an alternate scheme proposed between Osisko and several other parties. It extended its offer to 5:00 p.m. EDT on April 15, 2014 on unchanged terms. This is a more cautious tone than the original offer, but the filing does not say Goldcorp will withdraw.
31 Mar 2014resource reserve update● Neutral
This 6-K furnishes two NI 43-101 technical reports with author consents: one on Pueblo Viejo (dated March 27, 2014, reserves and resources as of Dec 31, 2013, Barrick 60% / Goldcorp 40%) and one on the Éléonore project (effective Jan 26, 2014). The visible text says Pueblo Viejo reached commercial production in January 2013, expects ramp-up to full production in 2014, and has a 20-year reserve mine life; the reserve and resource figures are cut off in the text provided, so none are given here.
26 Mar 2014asset acquisition disposition▲ GoodMajor
Goldcorp sold its remaining 31,151,200 Primero Mining shares in a secondary offering at C$7.20 each, for gross proceeds of about C$224 million, and no longer owns any Primero shares. This ends the stake that followed the earlier San Dimas sale to Primero and the Oct 2012 partial sale; Primero got no proceeds. Whether the Northgate-Primero arrangement (46.7M Northgate shares to Goldcorp) still matters is not addressed in the filing.
21 Mar 2014business combination● Neutral
Goldcorp extended its Osisko offer from March 10 to 5:00 p.m. EDT on April 4, 2014. Terms are unchanged (0.146 Goldcorp share plus C$2.26 cash per Osisko share) and all other conditions remain; the filing gives no tender level or Osisko response.
3 Mar 2014dividend declaration● Neutral
Goldcorp declared its third monthly dividend of 2014, US$0.05 per share, for holders of record March 13, 2014, payable March 21, 2014. The rate is unchanged.
19 Feb 2014business combination● Neutral
Goldcorp extended its Osisko offer from February 19 to March 10, 2014, 5:00 p.m. EST. The terms are unchanged at 0.146 Goldcorp share plus C$2.26 cash per Osisko share, and all other conditions remain; the filing does not say how many Osisko shares have been tendered.
4 Feb 2014asset acquisition disposition● NeutralMajor
Goldcorp and Barrick agreed to sell the Marigold mine in Nevada to Silver Standard Resources for a total of $275 million cash, subject to closing adjustments. Goldcorp is operator and 66.7% owner (Barrick 33.3%), so it receives a share of the price (the split is not stated); closing is expected in April 2014. This resolves the earlier open question about Marigold only once it closes, and continues the company's stated portfolio-focus strategy.
3 Feb 2014dividend declaration● Neutral
Goldcorp declared its second monthly dividend of 2014, US$0.05 per share, for holders of record February 13, 2014, payable February 21, 2014. The rate is unchanged from January.
13 Jan 2014business combination● NeutralMajor
Goldcorp said it intends to make an offer for all Osisko Mining shares, valued at about C$2.6 billion: 0.146 of a Goldcorp share plus C$2.26 cash per Osisko share (C$5.95 at Goldcorp's C$25.29 close on Jan 10, 2014). Osisko is the company whose 10.1% stake Goldcorp sold in Feb 2011; the offer needs 66 2/3% acceptance and regulatory approvals, would not need a Goldcorp shareholder vote, and the cash part is to be funded by a new $1.25 billion Scotiabank term facility, about $620 million cash on hand and an undrawn $2 billion facility.
6 Jan 2014dividend declaration● Neutral
Goldcorp declared its first monthly dividend of 2014, US$0.05 per share, for holders of record January 16, 2014, payable January 24, 2014. The rate is unchanged from 2013, so there is no increase this January, unlike the 11% rise a year earlier.
2 Dec 2013dividend declaration● Neutral
Goldcorp declared its twelfth monthly dividend of 2013, US$0.05 per share, for holders of record December 12, 2013, payable December 20, 2013. This completes a full year of payments at the rate raised in January 2013.
4 Nov 2013dividend declaration● Neutral
Goldcorp declared its eleventh monthly dividend of 2013, US$0.05 per share, for holders of record November 14, 2013, payable November 22, 2013. The rate is unchanged.
7 Oct 2013dividend declaration● Neutral
Goldcorp declared its tenth monthly dividend of 2013, US$0.05 per share, for holders of record October 17, 2013, payable October 25, 2013. The rate is unchanged.
9 Sept 2013dividend declaration● Neutral
Goldcorp declared its ninth monthly dividend of 2013, US$0.05 per share, for holders of record September 19, 2013, payable September 27, 2013. The rate is unchanged.
12 Aug 2013dividend declaration● Neutral
Goldcorp declared its eighth monthly dividend of 2013, US$0.05 per share, for holders of record August 22, 2013, payable August 30, 2013. The rate is unchanged from earlier 2013 payments.
8 July 2013dividend declaration● Neutral
Goldcorp declared its seventh monthly dividend of 2013, US$0.05 per share, for holders of record July 18, 2013, payable July 26, 2013. The rate is unchanged.
10 June 2013dividend declaration● Neutral
Goldcorp declared its sixth monthly dividend of 2013, US$0.05 per share, for holders of record June 20, 2013, payable June 28, 2013. The rate is unchanged.