Although many would love to blame the "Big Bad Americans" for acquring such a leading company in an important industry, Goldcorp was the victim of its own demise. Over the last 10+ years the company entered an aggressive acquisition history that needed to be done (as the gold industry works); however, the amount of assets and the capital required to finance and build them eventually caught up with Goldcorp. Most of the downturn since Chuck Jeannes held a solid ship was unfortunately under the watch of David Garofalo (ex-Agnico Eagle, ex-Hudbay); however, with lessons learned no doubt Mr. Garofalo will appear out of retirement and will attract equity capital to run a much smaller, nimbler company on its way to a new growth trajectory (ie. pick the jockey, back the horse).
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