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Goldcorp to Acquire Exeter Resource for CAD$247 Million

Published: April 3, 2017 |

[Click image to enlarge]

[Click image to enlarge]

Exeter Resource Corporation has entered into a definitive agreement with Goldcorp Inc., whereby Goldcorp will acquire all of the outstanding shares of Exeter under a plan of arrangement for consideration of 0.12 of a Goldcorp share for each Exeter share, which represents a value equivalent to C$2.58 per Exeter share, based on the closing price of Goldcorp shares on the TSX on March 27, 2017, and total consideration of C$247 million.

This represents a premium of 67 percent on the Exeter shares based on the closing prices of both companies common shares on the TSX on March 27, 2017 and a 60 percent premium based on Goldcorp’s and Exeter’s 20‐day TSX volume weighted average trading price ending on March 27, 2017.

“Since the discovery of Caspiche in 2007, our team successfully delineated and technically advanced one of the largest gold – copper deposits in the Americas. While advancing the near surface 1.7 million ounce gold oxide open pit is a sensible starter option for Exeter, the enormous scope of the Caspiche gold-copper sulphide project requires both the capital and technical expertise of a major mining company to unlock its true value,” said Yale Simpson, co-chairman of Exeter.

“Goldcorp, a leading gold producer with a strong track record of responsible mining is both capable and motivated to develop a mine at Caspiche. Exeter shareholders receive an immediate, attractive premium in this transaction. Through the Goldcorp shares received they retain their exposure to the Caspiche project, but without the adherent financial risk that would challenge Exeter,” added Simpson.

The transaction is expected to close no later than June 30, 2017.


About Exeter Resource
Exeter is a Canadian mineral exploration company focused on the exploration and development of the Caspiche project in Chile. Caspiche is well located in Chile’s Maricunga district, which has good infrastructure and is in close proximity to other large scale mining operations and projects in development.

To stop by Exeter Resource’s website, CLICK HERE


About Goldcorp
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.

To stop by Goldcorp’s website, CLICK HERE


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