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Additional Information
Market: TSX NYSE
Sector: Gold Mining
EPIC: G
Latest Price: 47.27  (0.04% Ascending)
52-week High: 55.30
52-week Low: 40.80
Market Cap: 38,238.80M
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Goldcorp
www.goldcorp.com

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.  

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

19th Feb 2009, 12:00 am by Andre Lamberti 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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