RE: G stinksNorthern Orions only operating asset is a 12.5% interest in a very profitable gold and copper mine[Goldcorp owns 37.5% of the same mine]. NNO gold production in the 3rd Q was less than 20,000 oz. So 2007 we can project 80,000 to 100,000 oz. Goldcorp[from all mines] are estimating 2,700-3,000,000 for that period.
Goldcorp [Nov 15] annouced the sale of 14% of their Silver Wheaton shrs for about $226,000,000. They owned 57% before with this sale reducing their interest to 49%.As I read the G stat they consolidate SLW rather than show as an investment at market value.If I am correct,they show 57% of each asset & liability in their balance sheet & p&l stats.If this is correct, G stat has the SLW asset at about 293,000,000. [8% of that is about 41,000,000].Therefore G will book a capital gain of about [226,000,000-41,000,000]$185,000,000 in the 4th Q.[in addition to other earnings].They will continue to own about 49%.I DO NOT GUARANTEE ANY OF THE ABOVE-CHECK IT YOURSELF IF YOU HAVE AN INTEREST OR CONTACT GOLDCORP FOR THEIR COMMENTS.