Wheaton River Minerals Ltd. (AMEX:WHT - News; TSX:WRM - News) announced today that it has entered into a letter of intent to acquire Rio Tinto's 25% interest in the low cost Bajo de la Alumbrera gold-copper mine in Argentina and 100% interest in the Peak gold mine in Australia for US$210 million. Between 2003 and 2005, the mines to be acquired are estimated to produce an average of 269,500 ounces of gold annually at a cash cost of US$74 per ounce.
I think I understand. Originally they were at $74 per ounce through the acquisition stated above and now by taking on another 25% of Alumbrera, their cost went up to $99 per ounce. Is this what you mean?
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