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 February 2006
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Goldcorp
Inc.
(Translation
of registrant's name into English)
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Suite
1560, 200 Burrard Street
Vancouver,
British Columbia V6C 3L6 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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....[ ].....
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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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[
]
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No | [X] |
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
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Suite
1560 - 200 Burrard St.
Vancouver,
BC, V6C 3L6
Tel:
(604) 696-3000
Fax:
(604) 696-3001
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Toronto
Stock Exchange:
G
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New
York
Stock Exchange:GG
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GOLDCORP
TO AMEND SILVER PURCHASE AGREEMENT WITH SILVER WHEATON;
INCREASING OWNERSHIP OF
SILVER WHEATON TO 62%
Vancouver,
BC, February 13, 2006-Goldcorp
Inc. (TSX: G; NYSE: GG) is pleased to announce that it
has agreed with Silver
Wheaton Corp. (TSX: SLW; AMEX: SLW) to amend their existing
silver purchase
agreement in connection with an increase in Goldcorp’s investment in exploration
and development at its San Dimas mine in Mexico.
Under
the
existing silver purchase agreement dated October 15,
2004, Silver Wheaton is
entitled to purchase all of the silver produced by Goldcorp’s Mexican
operations, Luismin, for a per ounce cash payment of
the lesser of US$3.90 and
the prevailing market price (subject to an inflationary
adjustment commencing in
2007). Further, Luismin is required to deliver a minimum
of 120 million ounces
of silver over the 25 year contract period and Silver
Wheaton is obligated to
pay 50% of any capital expenditures made by Luismin at
its mining operations in
excess of 110% of the projected capital expenditures
outlined in the
agreement.
Goldcorp
and Silver Wheaton have agreed to amend the existing
agreement, increasing the
minimum number of ounces of silver to be delivered over
the 25 year contract
period by 100 million ounces, to 220 million ounces,
and waiving any capital
expenditure contributions previously required to be paid
by Silver Wheaton. In
consideration for these amendments, Silver Wheaton will
issue to Goldcorp 18
million common shares, representing 9.8% of the outstanding
shares of Silver
Wheaton, and a US$20 million promissory
note, increasing Goldcorp’s ownership to 62%, or
126
million common shares of Silver Wheaton. Goldcorp
does not have any present intention to acquire ownership
of, or control over,
any additional securities of Silver Wheaton. The total
consideration of US$150
million is equal to the approximate value of Silver Wheaton’s share of the
future capital expenditures estimated over the remaining
life of the existing
agreement.
Luismin
plans to increase its investment in exploration and development
at the San Dimas
mine, in order to improve ore production (gold and silver)
at the mine by
approximately 35% by 2009.
Closing
of the transaction is conditional upon completion of
definitive documentation
and receipt of all requisite regulatory approvals, including
the approval of the
Toronto Stock Exchange.
Randy
Smallwood, P. Eng., Director, Project Development of
Goldcorp is the “qualified
person” as defined in National Instrument 43-101 who has reviewed
the proposed
expansion of ore production at Luismin and has reviewed
and approved of the
contents of this news release.
Goldcorp
is the world’s lowest cost and fastest growing gold producer, and
is unhedged.
Gold production in 2006 is forecast to be approximately
2 million ounces, on an
annualized basis, at a cash cost of approximately US$150
per ounce.
Cautionary
Note Regarding Forward Looking Statements
This
press
release contains “forward-looking statements”, within the meaning of the United
States Private Securities Litigation Reform Act of 1995
and similar Canadian
legislation. Forward-looking statements include, but
are not limited to,
statements with respect to the future price of gold,
silver and copper, the
estimation of mineral reserves and resources, the realization
of mineral reserve
estimates, the timing and amount of estimated future
production, costs of
production, capital expenditures, costs and timing of
the development of new
deposits, success of exploration activities, permitting
time lines, currency
exchange rate fluctuations, requirements for additional
capital, government
regulation of mining operations, environmental risks,
unanticipated reclamation
expenses, title disputes or claims and limitations on
insurance coverage.
Generally, these forward-looking statements can be identified
by the use of
forward-looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such
words and phrases or state that certain actions, events
or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are subject to known and unknown
risks, uncertainties
and other factors that may cause the actual results,
level of activity,
performance or achievements of Goldcorp to be materially
different from those
expressed or implied by such forward-looking statements,
including but not
limited to: risks related to the integration of acquisitions;
risks related to
international operations; risks related to joint venture
operations; 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;
possible variations in ore reserves, grade or recovery
rates; failure of plant,
equipment or processes to operate as anticipated; accidents,
labour disputes and
other risks of the mining industry; delays in obtaining
governmental approvals
or financing or in the completion of development or construction
activities, as
well as those factors discussed in (a) the section entitled
“Description of the
Business - Risk Factors” in Goldcorp’s annual information form for the year
ended December 31, 2004, and (b) the section entitled
“Description of the
Business - Risk Factors” in Wheaton River Minerals Ltd.’s annual information
form for the year ended December 31, 2004. Although Goldcorp
has attempted to
identify important factors that could cause actual results
to differ materially
from those contained in forward-looking statements, 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. Goldcorp does not undertake
to update any
forward-looking statements that are incorporated by reference
herein, except in
accordance with applicable securities laws.
For
further information, including a copy of the early warning
report of Goldcorp to
be filed on www.sedar.com
within
two business days of this news release, please contact:
Julia
Hasiwar
Director,
Investor Relations
Goldcorp
Inc.
1560-200
Burrard Street
Vancouver,
British Columbia, V6C 3L6
Telephone:
1800-567-6223
Fax:
(604) 696-3001
Email:
info@goldcorp.com
Website:
www.goldcorp.com
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: February
13, 2006
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/s/
Anna M. Tudela
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Name: Anna M. Tudela |
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Title:
Assistant Corporate Secretary and Manager,
Legal
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