Goldcorp announces Exeter takeover bid

Canadian gold miner Goldcorp has announced it has launched a takeover bid for Exeter Resource Corporation, offering US$183 million for all outstanding Exeter shares.

Exeter’s primary asset is its Caspiche project, a gold-copper mine in northern Chile with an oxide gold zone on the surface and a high-grade gold-copper core.

According to Goldcorp, the project “has the potential to be developed as a high tonnage, long-life mining operation.”

The bid, which is supported by Exeter’s board, is subject to a two-thirds shareholder vote in May.