Acquiring Glamis, is Goldcorp trying mainly to fend off Barrick?


8:35a ET Tuesday, September 5, 2006

Dear Friend of GATA and Gold:

Edgar J. Steele, a lawyer in Idaho who is proprietor of, has written an essay just posted at GoldSeek's companion site, SilverSeek, offering some interesting speculations about Goldcorp's bid for Glamis Gold and Goldcorp's own risk of becoming a target for Barrick Gold.

Essentially Steele argues that, in acquiring Glamis at a premium price, Goldcorp is striving to make itself too big and unattractive to distract Barrick from its predation of NovaGold.

To get to Steele's speculations, you first have to wade through what the author himself calls a "socio-political sermon." Or maybe you can just skip it and get to the interesting stuff about the mining company acquisitions.

Steele's essay is titled "Goldcorp: Feeling Glamis All Over?," and you can find it here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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