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5/5/14

Goldcorp (GG) at Los Filos, Guerrero: What they told you today and what they didn't tell you

Goldcorp (GG) today announced that the Mexican Stand Off (literally) between themselves and landowners at the Los Filos gold mine in Guerrero State Mexico is now over and the company is now back to work. But what they didn't tell you about was the deal struck because after swearing blind they couldn't afford a penny more than the previous 2.5 oz of gold per hectare they were paying for land use and rejecting out of hand the deal of 4.5 oz offered by the landowners, the two sides have settled at 4 oz.

So there you go, GG loses a month's worth of production and gets another light shone upon its dubious reputation in Latin America for the sake of half an ounce of gold. Fuckwits.