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Market: TSX, NYSE
Sector: Gold Mining
Epic: TSX:G
News: Latest news
Web Site: Goldcorp
Other Articles: 06-08-201030-07-201010-06-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Goldcorp

Goldcorp

Goldcorp is one of the world's largest gold mining companies employing more than 9,000 people worldwide. Goldcorp has 16 operations and development projects focused throughout the Americas with over 70% of reserves in NAFTA countries.  

Thursday, February 19, 2009

Goldcorp reports good Q4 and FY results, reserves up 7 percent

Goldcorp Inc reported a fourth quarter production of 691,800 ounces, an increase of 11 percent from the fourth quarter of 2007. Fourth quarter net earnings rose to US$958.1  from US$256.5 million in the fourth quarter of 2007. Revenues in the quarter fell to US$609 million from US$679.8 million a year earlier, due primarily to lower realized silver and copper prices.

For the twelve months ended December 31 2008, revenues increased 10 percent to US$2.42 billion, and gold production totalled 2.32 million ounces, up from 2.29 million ounces previously. Net earnings rose to US$1.48 billion from US$460.1 million in 2007.

"Goldcorp ended 2008 with strong performance at every mine in our portfolio," said Chuck Jeannes, President and CEO "Decreasing cash costs enabled the company to capture greater margins in a rising gold price environment. Our performance in the fourth quarter underscores the substantial operational improvements underway throughout the company, and our priority in 2009 and beyond is on building on this improved performance while delivering on our goals and objectives."

At Penasquito, every significant construction milestone has been achieved, and the project remains on track for the first production of concentrates later this year and commercial production by the start of 2010. In addition, the pace of construction at the Pueblo Viejo project in the Dominican Republic is expected to accelerate in 2009, Goldcorp added.

The company also announced that total proven and probable reserves increased 7 percent to 46.3 million ounces as of December 31 2008.

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