TORONTO (Reuters) - Goldcorp Inc.
The mid-tier Canadian gold producer said the market value of the bullion holdings was based on a gold price of $342.75 an ounce.
The company's bullion holdings have been accumulated by retaining a portion of the production from its Red Lake mine in northwestern Ontario. It also periodically buys gold bullion.
The company has said it expects the gold price to move higher over the next few years and has no intention of selling the bullion at current prices.
Goldcorp also said in a statement its cash and short-term investments grew to $260 million by the end of the fourth quarter, an increase of $25 million from the $235 million held at the end of the third quarter.
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