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Today I want to take you back in time - back to 2000 - to share a tale about frustration, calculated risk-taking and innovation.
And gold mining.
The leaders of Goldcorp Inc. (NYSE: GG) knew their way of doing business wasn't working and understood that, without a change, the long-struggling miner might well run out of cash and go belly up.
Goldcorp was operating - without luck - in Canada's Red Lake gold district. And that just didn't make sense.
Red Lake had two operating gold mines and 13 former mines that, all told, had produced more than 18 million ounces of gold. The mine right next door accounted for 10 million ounces all by itself.
Goldcorp's 55,000-acre stake had produced only 3 million ounces.
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