FORM
6-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
For
the
month of April 2007
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Goldcorp
Inc.
(Translation
of registrant's name into English)
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Suite 3400
- 666 Burrard St.
Vancouver,
British Columbia V6C 2X8 Canada
(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual reports
under
cover Form 20-F or Form 40-F.
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Form
20-F
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o
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Form
40-F
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x
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
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Note:Regulation
S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if
submitted solely to provide an attached annual report to security
holders.
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(7): ____
| Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. |
Indicate
by check mark whether by furnishing the information contained in this Form,
the
registrant is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes
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o
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No
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x
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If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
Signature
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has
duly caused this report to be signed on its behalf by the undersigned,
thereunto
duly authorized.
| GOLDCORP INC. | ||
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Date: April
16, 2007
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/s/
Anna M. Tudela
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Name: Anna M. Tudela |
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Title:
Director,
Legal and Assistant Corporate
Secretary
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GOLDCORP
SIGNS AGREEMENT WITH SILVER WHEATON FOR PEÑASQUITO SILVER
VANCOUVER,
BRITISH COLUMBIA, April 16, 2007 - GOLDCORP INC. (TSX:
G, NYSE: GG)
today
announced that it has executed a binding term sheet to
sell 25% of the
life-of-mine silver produced from its Peñasquito project to Silver Wheaton Corp.
(“Silver Wheaton”). Under the terms of the agreement, Silver Wheaton will
pay
Goldcorp $485 million in cash upon closing of the transaction
in exchange for
25% of the silver production. In addition, the term sheet
requires Silver
Wheaton to pay an ongoing per-ounce operating cost payment
equal to the lesser
of $3.90 (subject
to annual inflationary adjustments) and
the
prevailing market price per
ounce of silver delivered under the contract.
“The
addition of cash from this transaction with Silver Wheaton
strengthens our
already solid balance sheet and provides us tremendous
flexibility in funding
the construction of Peñasquito and our other growth programs,” said Kevin
McArthur, Goldcorp President and Chief Executive Officer. “Our continued
49% investment in Silver Wheaton as well as our 75% unsold
silver stream at
Peñasquito ensures that we will remain highly leveraged to
future upside in
silver prices. As always, our gold production will remain 100%
unhedged.”
As
a result of this transaction, Silver Wheaton has extended
Goldcorp’s right to
maintain its pro-rata interest in Silver Wheaton to December
31, 2009. Goldcorp
currently owns 49% of the issued and outstanding shares
in Silver Wheaton.
Silver Wheaton will retain a right of first refusal on
any further sales of
silver streams from Peñasquito for the life of the mine as long as Goldcorp
maintains at least a 20% interest in Silver Wheaton. Goldcorp
expects to update
metals reserves and resources at Peñasquito in June, 2007.
Closing
of the transaction is subject to execution of definitive
agreements containing
customary representations, warranties and covenants by
both parties, as well as
receipt of all regulatory approvals and third-party consents,
including
acceptance by the Toronto Stock Exchange. The transaction is expected to
close by May 31, 2007.
CIBC
World Markets acted as financial advisor to Goldcorp and
provided a fairness
opinion to Goldcorp's Board of Directors in connection
with this
transaction.
Goldcorp
is one of the world’s lowest-cost and fastest growing multi-million ounce gold
producers with operations throughout the Americas. Its
gold production remains
100% unhedged.
Cautionary
Note Regarding Forward-Looking Statements
Safe
Harbor Statement under the United States Private Securities
Litigation Reform
Act of 1995: Except for the statements of historical fact
contained herein, the
information presented constitutes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act
of 1995. Such
forward-looking statements, including but not limited to
those with respect to
the price of gold, silver, copper, zinc and lead, the timing
and amount of
estimated future production, costs of production, reserve
determination and
reserve conversion rates involve known and unknown risks,
uncertainties and
other factors which may cause the actual results, performance
or achievement of
Goldcorp to be materially different from any future results,
performance or
achievements expressed or implied by such forward-looking
statements. Such
factors include, among others, risks related to the integration
of acquisitions,
risks related to international operations, risks related
to joint venture
operations, the actual results of current exploration activities,
actual results
of current reclamation activities, conclusions of economic
evaluations, changes
in project parameters as plans continue to be refined,
future prices of gold,
silver and copper, zinc and lead as well as those factors
discussed in the
section entitled “General Development of the Business - Risks of the Business”
in Goldcorp’s Form 40-F on file with the Securities and Exchange Commission
in
Washington, D.C. and Goldcorp’s Annual Information Form on file with the
securities regulatory authorities in Canada. Although Goldcorp
has attempted to
identify important factors that could cause actual results
to differ materially,
there may be other factors that cause results not to be
as anticipated,
estimated or intended. There can be no assurance that such
statements will prove
to be accurate as actual results and future events could
differ materially from
those anticipated in such statements. Accordingly, readers
should not place
undue reliance on forward-looking statements.
For
further information, please contact:
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Jeff
Wilhoit
Vice
President, Investor Relations
Goldcorp
Inc.
Telephone:
(604) 696-3074
Fax:
(604) 696-3001
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e-mail:
info@goldcorp.com
website:
www.goldcorp.com
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