anyone saw the article in the Toronto Star yesterday about Goldcorp taking over Andean Resources Ltd. for $3.6 billion. Anytime I see a takeover announcement in the mining/exploration space, it perks my interest for obvious reasons.

I went to the Star home page to find the article and post the link here but was not able to find the Sept.4/10 article. However, a similar article did appear in the Star on Sept. 3/10 and I will post the link below.

I am a little perplexed with respect to this agreement in terms of the price that Goldcorp has offered and the in situ value of the Cerro Negro property. As per Andean Resources home page the property as of March 2010 has 3.1 million ounces of gold and 25 million ounces of silver. Using the current spot prices, the in situ value of this property is $4.36 billion.

So, in situ of $4.36Bn and Goldcorp has offered $3.6Bn. What am I missing over here?

Here is the link:

http://www.thestar.com/business/article/856495--goldcorp-swallows-andean-resources-in-3-6-billion-deal

What is the current in situ value of our Eagles Nest deposit?

Perplexed over here.

Cheers,

Milsy1