Goldcorp increases stake in GSV by 29.1%Presumably these are newly issued shares, The release does not explicitly state these are new shares, but it would be very difficult to acquire 7.2 million shares in the market. This represents an increase from 9.86% to 12.73% of the total shares outstanding. Goldcorp could choose to increase further upto 20% if they choose. Above that they would be required to make an offer.
It is strategic, and can be taken as a vote of confidence. Could Oceana do something similar? Yes.
Oceana owned 15.5%, prior to the issuance of the 7.2 million shares. There were 254.3 million shares out previously. The new shares are an increase of 2.8%.
Stay tuned. The $300 million shelf registration made this possible.