GOLDCORP INC. (G.TO) has fallen 1% and nearer to a year low
$32.34 as it announced gold production and cash costs for 2012 and
provided production and cash cost guidance for 2013 and the
five-year period ending 2017.
Five Year Forecast: Goldcorp's production profile continues to
evolve toward a model comprised of sustained, low-cost gold
production from large cornerstone projects. Gold production is
forecast to grow approximately 70% over the next five years to 4.0
to 4.2 million ounces in 2017. New projects will make significant
contributions to this growth, with first gold production forecast
from new projects as follows: Cerro Negro, late 2013; Eleonore,
late 2014; Cochenour, first half 2015; Camino Rojo, 2016
- Strong fourth quarter 2012 gold production totaling 696,700
ounces, with total 2012 gold production of 2.39 million ounces,
within previous guidance.
- Forecast 2013 gold production to grow approximately 10% to
between 2.55 and 2.80 million ounces.
- Forecast five-year gold production to increase to 4.0-4.2
million ounces by 2017.
- Forecast average five year by-product cash costs1 expected to
remain below $500 per ounce.
- Dividend increases 11% to $0.60 per share.
- Adopting all-in sustaining cash cost1 reporting measure for
Goldcorp's year-end financial statements are scheduled to be
released on February 14, 2013. The final calculation of operating
costs has not yet been completed, but total cash costs for all of
2012 are expected to be approximately $315 per ounce of gold on a
by-product basis and approximately $645 per ounce of gold on a
Meanwhile, Goldcorp also declared its first monthly dividend
payment for 2013 of $0.05 per share. Shareholders of record at the
close of business on Thursday, January 17, 2013 will be entitled to
receive payment of this dividend on Friday, January 25, 2013. The
payment reflects an increase of 11% to the annual dividend approved
by Goldcorp's Board of Directors today. Goldcorp has increased its
dividend by 233% since 2009.