Goldcorp Inc. (USA) (NYSE:GG) Pushes For Negotiated Settlement Of Land Dispute


Dallas, Texas 12/13/2013 (FINANCIALSTRENDS) – Goldcorp Inc. (USA) (NYSE:GG) is a $17.16 billion market capped gold mining firm which is involved in exploration and extraction activities of gold across its mining properties in “Canada, United States, Mexico and Central and South America”. Over the past one year the stock of this gold manufacturer has been struggling to maintain investor confidence in the stock. This is because of the twin concerns of big dip in gold price internationally and the resultant escalation in the production cost of the metal.

Readers should note that in the just concluded quarter for which the results were announced last month the firm has reported a dip of 27.5 percent in its quarter on quarter sales and an even more troublesome 19 percent dip in its profit margins. Its market value has also plummeted by a big 43 percent during the past 12 months and has continued well into the past month when it shed an 11.5 percent in its market value.

In spite of the overall weakness in its operation environment, Goldcorp Inc. (USA) (NYSE:GG) has continued to plug away at shoring up share holder value. One such effort has been its continued attempts at settling the land rights issues that the company is involved with “Minera Peñasquito S.A. de C.V. and authorized representatives of the Cerro Gordo Ejido”.

These talks aimed at a mutually agreeable settlement for all concerned is being conducted under the good offices provided by Mexican Secretary of the Economy. The U.S based gold mining firm believes that quick progress can be recorded this time round thanks to the high ranking and fully mandated executives who are participating in the talks. Readers should note that in the recent past, Goldcorp Inc. (USA) (NYSE:GG) has been in receipt of legal notice from Cerro Gordo Ejido  which is “threatening to commence litigation” with regards to same disputed lands for which the talks are being held at Mexico.

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