(All Amounts in U.S. dollars unless stated otherwise)
VANCOUVER, April 9, 2014 /CNW/ - GOLDCORP INC. (TSX: G) (NYSE: GG) will host its annual Investor Day on Thursday, April 10, 2014 at 8:00am
EDT. The Company's senior management team will discuss details of the
projects and operating mines that are expected to drive high-quality,
low-cost production growth over the next several years. The live
presentation and archived webcast will be available at www.goldcorp.com.
In conjunction with the Investor Day, the Company announced gold
production1 and preliminary all-in sustaining costs2 for the first quarter of 2014. Gold production for the period totaled
680,000 ounces. Goldcorp's complete first quarter results will be
released on May 1, 2014. The final calculation of capital and operating
costs has not yet been completed, but all-in sustaining costs for the
first quarter of 2014 are expected to be approximately $875 per ounce.
The Company today also provided revised guidance reflecting the sale of
the Marigold joint venture completed on April 4, 2014. The Company has
re-forecast 2014 gold production to between 2.95 million and 3.1
million ounces with all-in sustaining costs expected to remain within
the range of $950 and $1,000 per ounce of gold.
About Goldcorp
Goldcorp is one of the world's fastest growing senior gold producers.
Its low-cost gold production is located in safe jurisdictions in the
Americas and remains 100% unhedged.
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The Company has included non-GAAP performance measures on an
attributable basis (Goldcorp share) throughout this document.
Attributable performance measures include the Company's mining
operations and projects and the Company's share from Alumbrera and
Pueblo Viejo. The Company believes that disclosing certain performance
measures on an attributable basis is a more accurate measurement of the
Company's operating and economic performance and reflects the Company's
view of its core mining operations. The Company believes that, in
addition to conventional measures prepared in accordance with GAAP, the
Company and certain investors use this information to evaluate the
Company's performance and ability to generate cash flow. However these
performance measures do not have any standardized meaning. Accordingly,
it is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance
prepared in accordance with GAAP. The amounts disclosed also include
the results of the Company's discontinued operation, Marigold.
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The Company has included all-in sustaining cash cost per gold ounce as a
non-GAAP performance measure that the Company believes more fully
defines the total costs associated with producing gold. All-in
sustaining costs include by-product cash costs, sustaining capital
expenditures, corporate administrative expense, exploration and
evaluation costs and reclamation cost accretion. As the measure seeks
to reflect the full cost of gold production from current operations,
new project capital is not included in the calculation. Accordingly, it
is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance
prepared in accordance with GAAP. The Company reports this measure on a
sales basis.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 Section 21E of the United States Securities Exchange Act of
1934, as amended, Section 27A of the United States Securities Act of
1933, as amended and applicable Canadian securities legislation,
concerning the business, operations and financial performance and
condition of Goldcorp Inc. ("Goldcorp"). Forward-looking statements
include, but are not limited to, statements with respect to the future
price of gold, silver, copper, lead and zinc, the estimation of mineral
reserves and resources, the realization of mineral reserve estimates,
the timing and amount of estimated future production, costs of
production, capital expenditures, costs and timing of the development
of new deposits, success of exploration activities, permitting time
lines, hedging practices, currency exchange rate fluctuations,
requirements for additional capital, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses,
timing and possible outcome of pending litigation, title disputes or
claims and limitations on insurance coverage. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes" or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved" or the
negative connotation thereof.
Forward-looking statements are made based upon certain assumptions and
other important factors that, if untrue, could cause the actual
results, performances or achievements of Goldcorp to be materially
different from future results, performances or achievements expressed
or implied by such statements. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which Goldcorp will operate in the
future, including the price of gold, anticipated costs and ability to
achieve goals. Certain important factors that could cause actual
results, performances or achievements to differ materially from those
in the forward-looking statements include, among others, gold price
volatility, discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, litigation risks, regulatory
restrictions (including environmental regulatory restrictions and
liability), activities by governmental authorities (including changes
in taxation), currency fluctuations, the speculative nature of gold
exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding
requirements and defective title to mineral claims or property.
Although Goldcorp has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual
results, level of activity, performance or achievements of Goldcorp to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related
to the integration of acquisitions; risks related to international
operations, including economic and political instability in foreign
jurisdictions in which Goldcorp operates; risks related to current
global financial conditions; risks related to joint venture operations;
actual results of current exploration activities; environmental risks;
future prices of gold, silver, copper, lead and zinc; possible
variations in ore reserves, grade or recovery rates; mine development
and operating risks; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities; risks related to indebtedness and the service of such
indebtedness, as well as those factors discussed in the section
entitled "Description of the Business - Risk Factors" in Goldcorp's
annual information form for the year ended December 31, 2013 available at www.sedar.com. Although Goldcorp has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Forward-looking
statements are made as of the date hereof and accordingly are subject
to change after such date. Except as otherwise indicated by Goldcorp,
these statements do not reflect the potential impact of any
non-recurring or other special items or of any dispositions,
monetizations, mergers, acquisitions, other business combinations or
other transactions that may be announced or that may occur after the
date hereof. Forward-looking statements are provided for the purpose
of providing information about management's current expectations and
plans and allowing investors and others to get a better understanding
of our operating environment. Goldcorp does not undertake to update any
forward-looking statements that are included in this document, except
in accordance with applicable securities laws.
SOURCE Goldcorp Inc.