Upcoming AWS Coverage on Agnico Eagle Mines Post-Earnings Results

LONDON, UK / ACCESSWIRE / January 13, 2017 / Active Wall St. blog coverage looks at the headline from Goldcorp, Inc. (NYSE: GG) as the Company announced on January 11, 2017, an agreement pursuant to which, it would sell its 100% interest in the Guatemala-based, Cerro Blanco gold-silver project to Bluestone Resources Inc. Additionally, Goldcorp has granted a first right of refusal with respect to certain assets and equipment at the Marlin mine, also located in Guatemala. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Goldcorp's competitors within the Gold space, Agnico Eagle Mines Ltd. (NYSE: AEM), announced on January 10, 2017 that it will release its Q4 and full year 2016 results on Wednesday, February 15, 2017, after normal trading hours. AWS will be initiating a research report on Agnico Eagle Mines following the release of its upcoming earnings results.

Today, AWS is promoting its blog coverage on GG; touching on AEM. Get all of our free blog coverage and more by clicking on the links below:

http://www.activewallst.com/registration-3/?symbol=GG

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About the Two Companies

Goldcorp is a gold producer which primarily deals in precious metal properties in Canada, the US, Mexico, and Central and South America. Goldcorp is headquartered in Vancouver, British Columbia and employs more than 15,000 people worldwide. The Company's operating assets include four mines in Canada, four mines in Central and South America, and two mines in Mexico.

Bluestone Resources is a Canada-based Company in the exploration stage of development. The firm primarily deals in resource properties in North America. The firm operates Mohave Copper Porphyry Project, located in Arizona. The subsidiaries under the firm include Mohave Resources Inc., Four Point Construction Inc., 864396 BC Ltd, and Bluestone Resources (Alaska) Inc.

The Cerro Blanco Project

Cerro Blanco is one of the highest grades, fully permitted gold projects in the world. The project's public resource statements stated historical resources of 2.05 Mt grading 12.69g/t for 840,000 ounces of gold in the indicated category. Since 2006, approximately $170 million has been spent on the project, which included two underground declines from the surface, 3 km of underground development, two alimak vent raises, and an operating water treatment facility. The Cerro Blanco project is located less than 10 km from the Pan American Highway, in the state of Jutiapa, Guatemala. The project is fully permitted for construction and mining operations at the location.

The Marlin Mine Project

The Marlin Mine project, located in Guatemala, came to a halt and mining activities were suspended on April 17, 2016, when a worker got trapped underground after an unexpected fall-of-rock. The Company reviewed the safety procedures and investigations were underway regarding the flaw in safety criterions.

Breaking down the Agreement

Under terms of the agreement, Bluestone will acquire 100% interest in Minerales Entre Mares de Guatemala, S.A. which is Goldcorp's indirect wholly-owned subsidiary and holds a 100% interest in Cerro Blanco. Executed for an $18 million cash deal, Bluestone will additionally offer $2 million cash as a non-refundable deposit to be applied to the purchase price of Marline equipment. Hence, $15 million will be paid to Goldcorp at the commencement of commercial production at Cerro Blanco (within six months). Additionally, 9.9% of the fully diluted issued and outstanding securities of Bluestone would be offered after the completion of the financing. A formal definitive agreement is expected to be executed within 45 days of the signing of the agreement.
The Marlin mine will continue reclamation and re-vegetation activities over the next three years, which will be followed by ongoing monitoring and maintenance activities with the last ore production set to be processed early in 2017.

Stock Performance

On Thursday, the stock closed the trading session at $14.61, marginally rising 0.97% from its previous closing price of $14.47. A total volume of 9.40 million shares have exchanged hands, which was higher than the 3-month average volume of 8.63 million shares. Goldcorp's stock price advanced 11.19% in the last month, 2.04% in the past three months, and 31.76% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 7.43%. The stock has a dividend yield of 0.55%. The net market capital for the firm stood at $12.76 billion at yesterday's closing price.

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SOURCE: Active Wall Street