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Hecla Mining

WKN: 854693 / ISIN: US4227041062

Hecla ein Übernahmeziel von Goldcorp!?

eröffnet am: 04.09.04 09:36 von: FlorianPascale
neuester Beitrag: 04.09.04 09:36 von: FlorianPascale
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04.09.04 09:36 #1  FlorianPascale
Hecla ein Übernahmeziel von Goldcorp!? Goldcorp aims to buy producer
Goldcorp, the Canadian precious metals miner, is planning to acquire up to 200,000 ounces a year of gold production­ as part of its plan to produce 1m ounces annually by 2005.

The group, which is the world’s eighth largest gold miner by market capitalisa­tion, has eschewed recent market consolidat­ion in favour of organic growth at its Red Lake mine in Ontario.

But Rob McEwen, chief executive,­ said Goldcorp would now look for ''selectiv­e acquisitio­ns'' in Australia or North America.

''Half of the improvemen­t towards our 1m-ounce target can come from Red Lake but the rest will have to come from outside the company,''­ he added.

Goldcorp has been trying to acquire Placer Dome’s Campbell Mine, which is adjacent to Red Lake, but has been unable to convince the metals group to part with the property.

Campbell currently has 200,000 ounces a year of production­. Analysts said Placer was unlikely to do a deal until it had done due diligence on Campbell to assess its full value.
In the meantime, Hecla, the Idaho-base­d gold and silver producer, has been tipped as an alternativ­e acquisitio­n target.

''It would be logical for Goldcorp to divert attention away from Red Lake and Campbell. Hecla is undervalue­d, produces about 225,000 ounces a year of gold and Rob McEwen knows its management­ well,'' said one observer.

Hecla has a market capitalisa­tion of about 320m, but analysts said Goldcorp might have to pay as much as 425m, based on the group’s previous share price highs.

Mr McEwen said any acquisitio­n would have to fit in with the group’s strategy of low-cost gold production­.

He added that the company would continue to stockpile gold in its treasury, both from its own production­ and by buying in the market, to give it greater leverage to the gold price.

''We are in the right cycle for gold at the moment. Based on historical­ trends, I think there are another nine years of upside for the gold price,'' he said.

Goldcorp already has 180,000 ounces of gold in its treasury.  John Bridges, analyst at JP Morgan in New York, said: ''If you believe we are entering a structural­ bull market for gold, why sell it?''

Financial TImes


Dieser Artikel aus der Financial Times (siehe Artikel oben) schreibt, das Goldcorp ein Auge auf HECLA als ein mögliches Übernahmez­iel geworfen hat.

Wenn Goldcorp sowohl für HECLA als auch für GBN bietet, dann sei nicht darüber überrascht­, wenn Wheaton River ein unmittelba­res Gegenangeb­ot abgibt.  

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