UPDATE 1-Goldcorp agrees to sell mine in Mexico for $500 mln

* Says San Dimas mine to be sold to Mala Noche

* To get $270 mln cash, $175 mln shares, $50 mln note

* Goldcorp to hold 30 percent interest in Mala Noche

* Silver Wheaton extends purchase agreement

June 2 (BestGrowthStock) – Goldcorp Inc (G.TO: ) said it agreed to
sell the San Dimas gold-silver mine in Mexico to Mala Noche
Resources Corp (MLA.V: ) for $500 million.

The Canadian gold miner said it expects to own 30 percent
interest in Mala Noche after the deal, which is expected to
close by July 30.

Goldcorp said it will receive $275 million in cash, $175
million of Mala Noche shares and a $50 million promissory note
payable over five years at a rate of 6 percent per annum.

Separately, Silver Wheaton Corp (SLW.TO: ), which had agreed
to buy silver from San Dimas till 2029, said it extended the
term of the agreement to life-of-mine, following the sale of
the mine.

Shares of Goldcorp closed at C$45.61 Tuesday, while Mala
Noche’s share closed at 24.5 Canadian cents.

Growth Stocks

(Reporting by Aftab Ahmed in Bangalore; Editing by Don
Sebastian)
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-Goldcorp agrees to sell mine in Mexico for $500 mln