Good question. I was thinking about that area like maybe 29 - 31 as the place. Not sure about timing, but thought somewhere in the next 4 to 6 weeks. Is that what your technicals are telling you?
I recently did a detailed equity research report on Goldcorp (GG) which can be viewed for free on SA at the link below.
Bulls and Bears
Part II of my Goldcorp (GG) article can be viewed at the link below.
Bulls and Bears
Thanks for that fine analysis, B+B
While TSX-listed Goldcorp welcomed the ruling, Barrick said in a statement that it would review Justice Herman Wilton-Siegel’s ruling in detail and would consider its options, including a possible appeal.
Barrick continued to believe that New Gold improperly exercised its right of first refusal, unlawfully interfering with the company's right to acquire a stake in the copper/gold development project.
Barrick’s 2009 offer to acquire Xstrata Copper’s 70% rights and interests in the project for $465-million was terminated when El Morro’s 30% shareholder New Gold exercised its right of first refusal and gave Xstrata notice of its intention to buy.
But in early 2010, Goldcorp, Canada’s second-largest gold miner, acquired the majority stake in the project with the help of New Gold.
Barrick claimed that the exercise of the right of first refusal was invalid and had interfered with its right to acquire the stake in El Morro. The company filed a lawsuit in the Ontario Superior Court of Justice against New Gold, Goldcorp and Xstrata Copper, challenging the validity and enforceability of the attempted exercise of the right of first refusal.
"We are pleased that the court has confirmed our position that our acquisition of El Morro was completely proper and consistent with the relevant agreements and Chilean law and that Goldcorp's 70% ownership share of the project has now been clarified for our shareholders," said Goldcorp president and CEO Chuck Jeannes.
El Morro site development and construction activities were suspended in April, as the Chilean environmental permitting authority corrected certain deficiencies.
El Morro, in the Huasco province, in the Atacama region of northern Chile, held proven and probable gold reserves of 5.84-million ounces of gold and 4.36-billion pounds of copper.