DENVER ( TheStreet ) -- Goldcorp ( GG) is one of the biggest gold producers in the world but its shares aren't gaining traction this year despite a 17% rally in gold prices . The company has a $32 billion market cap and produced 609,500 ounces of gold in the second quarter at total cash costs of $363 an ounce. Goldcorp reported adjusted earnings per share of 27 cents, 2 cents below expectations. But despite solid numbers the stock has only risen 7% year to date. Goldcorp recently participated in the consolidation trend in the mining industry by buying Andean Resources for $3.4 billion, a company Eldorado Gold ( EGO) had been courting for years. Andean has indicated resources of 2.54 million ounces of gold, which will help Goldcorp's goal of expanding 50% in the next five years. I sat down with CEO Chuck Jeannes at the Denver Gold Forum to see if Goldcorp's recent acquisition was a desperate move for growth. So you recently bought Andean Resources for $3.4 billion, a 35% premium. Did you overpay? Jeannes: No not at all. This is one of those once-in-a-decade kind of opportunities that comes around. It's a very high-quality deposit which in our business means extremely low cost, both capital cost and operating cost, and it's got the opportunity to grow significantly over many, many years ... so we think actually the price we paid is accretive to Goldcorp's shareholders particularly on cash flow per share ... happy about the deal. How quickly will it be accretive to your earnings? Jeannes: Once the project is built and in production which will be late 2012, so 2013, 2014, 2015 we will see very significant accretion. Was this a desperate move at all to rejuvenate your resources? Jeannes: Goldcorp has the best growth profile of any of the senior companies. Before the Andean acquisition we were growing 50% over the next five years to 3.7 million ounces. We have the lowest cash-cost profile so this was an opportunity we didn't need but makes us a better company. Now you brought up growth. On your Web site it says that your growth strategy is organic growth but clearly you are now in acquisition mode. So are you changing your strategy? Jeannes: No, and we've always had what I think is an appropriate mix between growing organically, meaning exploration at the sites we already own and then adding new projects through acquisitions. And I think it's been proven in our industry ... that you can't do just one or the other. Companies that try to grow only through exploration have been unsuccessful at doing that and at the same time you shouldn't just be serial acquirers. Try to find assets that grow over time; that's a good mix.