Goldcorp Grabs Andean For $3.4 Billion: Minera Andes breaks out to the upside on a big volume MAI.to, TNR.v, CZX.v, GG, AND.to, NGQ.to, AUY, BVN, ABX, NEM, GDX, GDL, NUI, XAU, SSRI,

 M&A fever hits the ground in Argentina and not only in Lithium, but in Gold today as well - we guess Copper is to follow. Somebody likes the story and Minera Andes breaks out to the upside today on a big volume. We are closely watching TNR Gold with its vast holdings of Lithium, Copper and Gold projects in Argentina. Los Azules legal case will be taking a new perspective with every tick to the upside in the copper price and any idea about M&A involving Minera Andes.


"In a Copper space we are following development of Los Azules with Minera Andes and TNR Gold lawsuit boardroom games. With every uptick in Copper price NPV of the los Azules is going up, keeping everybody involved closely watching the letigation outcome:"

  Warren Buffet is right, as usual, in his investment approach and Almaden Minerals hit today 3.05 surging from 90 cents in August. You can tell with number of our posts lately that life and money comes back to junior mining sector now.

"Even Lithium can not cure depression all the time: this summer we have a lot of market worries and vacation time always puts some pressure on our favorite juniors. Mr Market gives us another opportunity and the time has come to pick up new samples for our collection. We have, one more time, just checked Warren Buffet: Buy when nobody wants."

Forbes:

Goldcorp Grabs Andean For $3.4 Billion

Tom Reese and Paul Rubillo, Dividend.com, 09.03.10, 10:16 AM EDT

Deal brings in gold from Argentina for the Canadian miner.

Gold producer Goldcorp ( GG - news - people ) on Friday said it would acquire fellow gold miner Andean Resources for around US$3.4 billion.

Andean's principal asset is the Cerro Negro gold project in in the Santa Cruz province of Argentina. That mining project reported indicated resources of 2.54 million ounces of gold and 23.56 million ounces of silver. he deal represents a 35% premium to Andean's Thursday closing price on the Toronto Stock Exchange.

Goldcorp shares fell 3.4% in early trading Friday.

The Bottom Line

Shares of GG have a 0.41% dividend yield, based on last night's closing stock price of $43.80. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $46-$47 price levels. We would remain on the sidelines for now.

Related articles by Zemanta

• TNR Gold Corp.: 33% Increase in Project Area to 160 Square Kilometres, Mariana Lithium Brine Project, Argentina TNR.v, CZX.v, RM.v, LIT, LIT.v, LI.v, WLC.v, CLQ.v, ORE.ax, TSLA, BYDDY, NSANY, HEV, AONE, FCX, BHP, RTP (sufiy.blogspot.com)
• Lithium Therapy: Richard Mills: Dow/Gold & Summer Doldrums TNR.v, CZX.v, RM.v, AMM.to, SGC.v, GRC.to, NGQ.to, BVG.v, BVA.v, ALK.ax, BTT.v, VTR.v, MGN, CGP.v, WLC.v, CLQ.v, LIT, TSLA, LI.v, AVL.to, HAO.v, ABN.v, (sufiy.blogspot.com)
• Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Gold in Africa: Volta drills 49 m of 4.3 g/t Au at Kiaka VTR.to, SGC.v, NSU.to, NGQ.to, TNR.v, GG, NEM, FCX, AMM.to, GRC.to, ABX, GDX, AUY, FCX, RGLD (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on fire today: SGC.v, NSU.to, NGQ.to, CZX.v, TNR.v, RM.v, GG, NEM, FCX, AMM.to, GRC.to, RVM.to, MGN, VTR.to, (sufiy.blogspot.com)
• Gold in Canada: Goldstone Resources Fight is on for the Hardrock deposit GRC.to, PG.to, GG, NEM, FCX, GDX, ABX, RGLD, TCK, AUY, BVN (sufiy.blogspot.com)
• Gold in Canada: Goldstone drills 42.7 m of 2.28 g/t Au at Key Lake GRC.to, PG.to, GG, ABX, NEM, AUY, GDX, RGLD, HUI, XAU, BVN, FCX (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• Canada Zinc drills eight of 10 holes at Cardiac Creek CZX.v, TNR.v, LUN.to, BLS.to, IMN.to, IVN.to, QUX.to, WRN.to, TKO.to, NCU.to, TCK, BHP, RTP (sufiy.blogspot.com)
• Silver in Montana: Revett Announces Additional Silver Wheaton Corp. Subscription SLW, RVM.to, MGN, EPZ.v, ASM.v, FVI.to, SLV, SSRI, OK.v (sufiy.blogspot.com)
• US Dollar collapse and Gold: Will S&P finally pop the Treasuries Bubble? TNR.v, GRC.to, NGQ.to, SGC.v, AMM.to, VTR.to, MGN, ASM.v, EPZ.v, BTT.v, GBN.v, RVM.to (sufiy.blogspot.com)