Goldcorp Sells Camino Rojo Oxide Project to Orla Mining

June 21, 2017

Goldcorp has entered an agreement to sell its 100% interest in the Camino Rojo oxide project in Zacatecas, Mexico to Orla Mining Limited.

Under the terms of the deal, Goldcorp will receive: 19.9% of the issued and outstanding common shares of Orla, a 2% net smelter return royalty on revenues from all metal production from the project, with the exception of metals produced under a joint venture with Orla, and an option to acquire up to a 70% interest in future sulphide projects, as well as the right to nominate a director to Orla’s Board for as long as Goldcorp’s equity ownership position is greater than 10%. The transaction is subject to customary closing conditions and is expected to close in the second half of 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

By Stephen Holmes

Free Email Newsletter


Enter your email address below to get the latest news and analysts' ratings for your stocks with MarketBeat's FREE daily email newsletter: