Goldcorp Gold new pay $ 90 million in cash, with the gold stream four percent due to gold production in the future from El Morro.
The new gold making ongoing $ 400 payments per ounce of gold delivered under the contract of 217.000 Initial ounces, and then will make the current of $ 400 per ounce payments in addition to the adjustment of one percent per year (compounded annually) year after the gold stream agreement.
After the closing of the transaction the new gold, Goldcorp also announced it had completed the deal with Teck Resources Limited to combine the interests of each of them in the Il Moro and Relincho projects in Chile in a 50:50 joint venture with the temporary name of the project corridor.
The two projects are located about 40 kilometers in the Huasco province in the Atacama region in Chile.
Goldcorp said the combination of two of these assets is expected to provide a number of key benefits including the reduction of the environmental footprint, lower cost, and improve capital efficiency, optimal mine plan, the community and the promotion of community involvement and benefit.
It is expected to begin in the third quarter of 2016 and be completed by the end of the 2017 pre-feasibility study for the project corridor.
It is expected to average more than 400,000 ounces per year gold production in the corridor project, according to an initial assessment.
Il Moro in itself, was planned annual production rate of approximately 486 000 dry tons per year of copper concentrate containing more than 300 million pounds (138 078 tonnes) of copper and 300,000 ounces of gold, according to the new gold.
Il Moro has proven and potential reserves of 8920000 ounce of gold as of December 31, 2014.