I wonder what the implications are for ECU? (Penoles; PanAm?)

Nice excerpt from MIDAS:

"The Juniors got another terrific boost today with Goldcorp's offer to take over Gold Eagle Mines. There are several aspects of this takeover that are worth considering. a) Agnico Eagle made a $50m strategic investment in Gold Eagle only a month ago. They purchased 5.5m shares (plus a half warrant) at $9.05/share so assuming today's takeover succeeds Agnico stands to make a quick $26m profit which is triple what they earned last quarter. If Agnico takes the profit and runs they will have over $75m to make another "strategic" investment. Got to be good for a junior.

b) Goldcorp obviously reacted very quickly to Agnico Eagle's move into their home turf at Red Lake. Gold Eagle has not yet done enough drilling to actually state a defined resource but its property is right next to Goldcorp's and despite the lack of a defined resource Goldcorp was sufficiently confident in their own models that they think there is a lot of Gold there.

c) This offer combined with the Kinross offer for Aurelian and PanAmerican's statement that they plan to make a purchase later this year is the start of a trend. Those shareholders of Aurelian and Gold Eagle should soon have some money to put into the shares of other worthy juniors. Many of the Juniors are in no position to raise the capital to build amine given the present market and the belief among many that Gold has peaked. It is worth repeating a comment Goldcorp's CEO Kevin McArthur made today that he expects $1500 Gold which he calls "the new $500 Gold". When this bull market began 7 years ago $500 Gold was the target many thought Gold miners needed in order to become profitable again.

Here we are at $900 Gold and the CEO of arguably the most profitable Gold miner is saying he's looking for $1500. Wow!