NAV= $15.08

Closing Price $15.11

GGN goes ex/d next Tues or Wed.

Goldcorp (GG)is probably the most undervalued mining stock out there. They have zero debt and produce 2.5 million ounces of gold each year at a cost of about $350 per ounce. That gives them $700 per ounce profit x 2.5 million ounces. That's about $1.75 Billion dollars of net profit. There are about 700 million shares outstanding so annual earnings should be around $2.50 per share . this makes the REAL p/e on GG about 16, which is awfully low for a mining company.

This is an $80 company over time in my humble opinion. I own it as a core position since it was $2 and have traded in and out of it for years as well. It closed at $40.12 today, up nearly $3.