Goldcorp (TSE:G) Selling San Dimas Mine

Goldcorp Inc (TSE:G) (NYSE:GG) is selling its Mexican San Dimas gold-silver mine to a small mining company named Mala Noche Resources (VAN:MLA) for $500 million.

The move by Goldcorp continues its shedding of non-core assets to strengthen even more its low-cost operational practices which positions it strongly for whatever economic conditions emerge.

Terms of the deal are Mala Noche will pay Goldcorp $275 million in cash, $175 million in shares and another $50 million via a promissory note.

This isn't a done deal yet, as it's contingent upon Mala Noche being able to produce a $350 million equity offering in order to finance the deal.