INTERCEPTS Thu 24/07/2014

Goldcorp posts record earnings

16th Feb 2012

VANCOUVER, Feb 16 – Goldcorp has marked its eighth successive year of growth in gold reserves by reporting record adjusted net earnings of US$1.8B for the year ended December 2011.

The 70% earnings jump was built on a 45% increase in revenues to $5.4B, another record, driven by gold sales of 2.5M oz for the year.

In the December quarter, 687,900oz of gold was produced at a total cash cost of $261/oz, leading to record revenues of $1.5B and operating cash flows before working capital changes of $831M.

Goldcorp says its proven and probable gold mineral reserves increased 8% to 64.7M oz.

Measured and indicated gold mineral resources increased 10% to 28.2M oz. Proven and probable silver mineral reserves totalled 1.2B oz, measured and indicated 418M oz – representing one of the largest silver reserves in the industry.

 

HighGrade

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