Canadian heavyweight Goldcorp Inc. (NYSE: GG) has consistently been one of the most innovative "thinkers" in the global mining business.
In March 2000, for instance, the miner employed an early version of what we now know as "crowdsourcing" to identify the best places to drill. The "Goldcorp Challenge," as the company called it, broke with the secretive practices of the mining industry and provided public access to the miner's geologic data - awarding $575,000 in prizes to those offering the best recommendations.
As we detailed in our most recent "Stock Talks" video, the payoff was huge: In 1996, Goldcorp's Red Lake Mine was producing at an annual rate of 53,000 ounces at $360 an ounce. By 2001, the mine was producing 504,000 ounces at $59 an ounce.
Well, the "free thinkers" at Goldcorp are at it again - and once again have broken with the mining industry's stultifying thinking. And once again, the gloom-and-doomers are saying Goldcorp has it all wrong - and have pummeled the miner's shares to punctuate their point.
Goldcorp's latest move - coupled with this dour response from the hater traders - has opened the door to a pretty great opportunity.
Let me take a few minutes to tell you all about it...
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