Goldcorp is the most expensive stock to own right now, based on each dollar of market cap per ounces of gold reserves in the ground. What that means is that the company has a blank cheque to write anytime they want to acquire more projects if they use share capital, since by definition all of the other acquisition targets are undervalued relative to G stock. Therefore, any acquisition of new gold deposits using share capital is going to generate value, since the value of gold controlled by the company will increase and the ratio per ounce will decrease.

KXL is not going to be a candidate yet, since the resource is not defined to the point where it will generate a meaningful addition to the gold in the ground already controlled. Come back and see us in a year, Goldcorp.

cheers!

mike

Voluntary disclosure: I own share of KXL and G