[GG] GOLDCORP INC › 19.60 +0.16 ( +0.82%)
stockcharts.com[w,a]daclyiay[pc40!c200!f][vc60][iut!La12,26,9!Ll14]&pref=G
---------
Goldcorp Inc.: Third Quarter Earnings Jump 470% to $57 Million
biz.yahoo.com
- Net earnings of $57 million ($0.17 per share), compared to $10 million ($0.05 per share) in 2004;
- Operating cash flows of $85 million ($0.25 per share), compared to $22 million ($0.12 per share) in 2004;
- Gold production of 283,700 ounces (2004 - 163,800 ounces);
- Gold sales more than doubled to 276,700 ounces (2004 - 112,800 ounces);
- Total cash costs of $9 per ounce, compared to $121 per ounce in 2004;
- First gold pour at the Amapari project, with commercial production expected during the fourth quarter.
For the nine months to September 30, 2005, net earnings increased to $184 million ($0.60 per share) compared with $36 million ($0.19 per share) in 2004, and operating cash flows increased to $329 million ($1.08 per share), compared with $31 million ($0.16 per share) in 2004. Gold production totalled 840,000 ounces for the nine months to September 30, 2005 compared with 462,000 ounces in 2004, while gold sales increased to 1,037,000 ounces at a total cash cost of $49 per ounce, compared with 314,000 ounces at a total cash cost of $112 per ounce in 2004.
President and CEO Ian Telfer said, "The superb quarterly results are indicative of the Company's ability to deliver on its strategy of providing shareholders with superior returns through increasing gold production, strong earnings and cash flows, and the lowest cash costs in the industry."
Goldcorp is the world's lowest-cost million ounce gold producer with safe, profitable, and sustainable mining operations throughout the Americas and in Australia. The Company has no debt or hedging. Production in 2005 is expected to exceed 1.1 million ounces at a cash cost of less than $60 per ounce. If the proposed transaction with Barrick is finalized, Goldcorp's 2007 gold production is expected to more than double from current levels to 2.4 million ounces while maintaining Goldcorp's status as the lowest cost million ounce gold producer. |
