Giustra behind Goldcorp's 300 Million US dollars mines sale

摘要

In what looks to be a 300-million US dollars pruning exercise, Goldcorp (G-T, GG-N) is spinning out mines in Australia and Brazil into a junior company led by Frank Giustra's investment banking firm Endeavour Financial. Acquiring the Peak mine in Australia and Amapari mine in Brazil will instantly make GPJ Ventures (GPJ.H-V, GPJFF-O), a 200,000-oz-per-year gold producer, says GPJ president Gordon Keep, who is also managing director of corporate finance at Endeavour. "It was Endeavour's idea to do this deal and present it to both GPJ and Goldcorp," says Keep, adding that the assets give the company a base from which to build. "They accepted."