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GOLDCORP Inc. - Ein der profitabelsten Goldproduzenten WKN: 890493

WKN: 890493 | Symbol: G
+2,33 %
+0,190 EUR

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Goldcorp third-quarter profit jumps 27 percent
Fri Nov 9, 2007 8:38 AM EST162
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OTTAWA (Reuters) - Goldcorp (G.TO: Quote) said on Friday its third-quarter profit rose 27 percent, as gold production increased at lower cash costs than industry averages.

The company earned $75.8 million, or 11 cents per share, in the period ended September 30. That was up from $59.5 million, or 14 cents per share, in the year-before period when it had a lower share count.

It also reaffirmed its 2007 production outlook of 2.2 million to 2.3 million ounces of gold at a total cash cost of $150 an ounce.

Analysts polled by Reuters had expected, on average, a profit of 16 cents per share before exceptions.

The company said a late concentrate shipment at its 37.5-percent owned Alumbrera mine in Argentina reduced earnings by 3 cents per share. Results were also hurt by storm-related power outages at its Red Lake mine in northern Ontario.

A stronger Canadian dollar increased cash costs at Goldcorp's three Canadian mines, which contribute about 45 percent of quarterly gold production.

Gold production rose 28 percent in the quarter to 556,200 ounces, while cash costs were $140 an ounce.

The company sold gold at an average price of $685 an ounce, up from $620 an ounce in the same period in 2006, as spot prices charged to 28-year highs during the quarter.

Operating cash flow was $208.6 million, up from $171.9 million in the same period last year.

($1=$0.94 Canadian)

(Reporting by Susan Taylor; editing by Scott Anderson)

© Reuters 2007. All Rights Reserved.
Goldcorp reaffirms outlook despite setbacks

Nov 10, 2007 04:30 AM

VANCOUVER–Goldcorp Inc. says its third-quarter profit rose to a less than expected $75.8 million (U.S.) as the strength in the Canadian dollar and shipping delays in Argentina took their toll.

The Vancouver-based miner said the profit amounted to 11 cents per share for the three months ended Sept. 30.

That was up from $59.5 million, or 14 cents per share spread out among fewer shares a year earlier.

Revenue was $524 million, up from $404.3 million.

The company said gold and copper sales at the Alumbrera mine in Argentina were significantly lower than production in the quarter, due to a delayed concentrate shipment.

Chief executive Kevin McArthur said the delayed sales will now add about three cents a share to fourth-quarter earnings.

He added that unusually intense summer lightning storms at Red Lake in northern Ontario knocked out power and lowered production.

"Nevertheless, the end of the expansion is in sight, and we will begin to reap the very sizable benefits in increased productivity that these improvements will usher in."

Third-quarter gold production at Red Lake was up 4 per cent from a year earlier, at 163,400 ounces. The company said production upgrades are to be finished in the second quarter of next year.

Goldcorp also reaffirmed its 2007 production outlook, saying it remains on track to produce 2.2 million to 2.3 million ounces of gold this year.

The Canadian Press
Goldcorp kann Gewinn im dritten Quartal um 27 Prozent steigern

Vancouver (aktiencheck.de AG) - Der kanadische Goldproduzent Goldcorp Inc. (ISIN CA3809564097/ WKN 890493) verzeichnete im dritten Quartal einen Gewinnanstieg um 27 Prozent. Die Erwartungen wurden damit jedoch verfehlt.

Wie Goldcorp am Donnerstag mitteilte, verbesserte sich der Nettogewinn von 59,5 Mio. Dollar bzw. 14 Cents je Aktie im Vorjahreszeitraum auf 75,8 Mio. Dollar bzw. 11 Cents je Aktie. Dabei hatte sich die Anzahl der ausstehenden Aktien verändert. Der Umsatz stieg um 30 Prozent auf 524,0 Mio. Dollar. Die Goldproduktion legte im Berichtszeitraum um 28 Prozent auf 556.200 Unzen zu.

Analysten hatten im Vorfeld ein EPS von 16 Cents bei einem Umsatz von 585 Mio. Dollar erwartet. Für das laufende Quartal schätzen sie einen Gewinn je Anteilsschein von 18 Cents und einen Erlös von 630,9 Mio. Dollar.

Die Aktie von Goldcorp verliert an der NYSE aktuell 2,01 Prozent auf 35,10 Dollar. (09.11.2007/ac/n/a)
Globe/wire say Goldcorp upbeat despite setbacks

2007-11-12 05:47 ET - In the News

The Globe and Mail reports in its Saturday, Nov. 10, edition that Goldcorp posted a lower-than-expected third quarter profit on Friday. A Reuters dispatch to The Globe reports that Goldcorp, however, said recent setbacks were temporary. The senior gold miner reaffirmed its 2007 production outlook. A late concentrate shipment at Goldcorp's 37.5-per-cent-owned Alumbrera mine in Argentina weighed on earnings, as did storm-related power outages at the Red Lake mine in Ontario. However, the company said it still expects to produce 2.2 million to 2.3 million ounces of gold this year at a total cash cost of $150 an ounce, which it touted as the lowest among gold producing majors (all figures U.S. unless otherwise stated). Quarter earnings, down 27 per cent from the same quarter a year ago, came in at $75.8-million or 11 cents a share. That compared with a profit of $59.5-million or 14 cents in the year-before period. For the period ended Sept. 30 revenue climbed to $524-million, up from $404.3-million. Goldcorp stock shed 86 Canadian cents to finish Friday on the Toronto Stock Exchange at $32.82 (Canadian). The stock trades in a one-year range of $22.40 (Canadian) to $34.89 (Canadian).
Goldcorp Inc. Commences Drilling on Corex's Zuloaga Property, Mexico

Corex Gold Corp. (TSXV: CGE) is pleased to announce that Goldcorp Inc. ("Goldcorp") (NYSE: GG- TSX: G) has begun a first phase drill program on the Company's Zuloaga property, Mexico.

Goldcorp has mobilized a core rig from Major Drilling, and on November, 3rd commenced a first phase exploration drill program. The drill program is a three (3) core hole program of 800 meters each (2400 meters total). Goldcorp is currently half way through the first hole, which is designed to test a target that has been identified by way of mapping and sampling. Mapping to date consists of approximately 23 km2 at 1:20,000 scale and 5km2 at 1:5,000 scale. A total of 147 rock-chip samples were also collected, and have been forwarded to ALS Chemex for analyses.

Under the Earn-In Agreement between the Company and a subsidiary of Goldcorp, Goldcorp can Earn-In a 70% interest in the Zuloaga Property by spending US$4,000,000 on exploration over a 5-year period and paying Corex US$150,000 over an 18 mo. period. Goldcorp shall have the option to increase its interest from 70% to 80% upon paying 100% of the expenditures associated with placing the Property or any part thereof, into commercial production based on a mine development project approved for all or part of the property, with 20% of such expenditures to be repayable to Goldcorp from related project cash-flows, or arranging the proportionate share of a debt financing.

The Company had granted an option to Hemis Corporation to acquire 49% of the Company's interest in a portion of Zuloaga property, but Hemis' option has now terminated before it was exercised.


"Craig D. Schneider"
President & CEO
Int'l Royalty buys four NSR royalties from Goldcorp

2007-12-17 12:01 ET - News Release

See News Release (C-IRC) International Royalty Corp

Mr. Douglas Silver of International Royalty reports


International Royalty Corp. purchased four royalties from Goldcorp Inc. (see Atna Resources news in Stockwatch, Sept. 18, 2007) on Dec. 13, 2007, for an acquisition cost of $4-million (U.S.). These four royalties include:

An effective 0.28-per-cent to 2.79-per-cent net smelter return royalty on the Pinson gold project. Barrick Gold Corp. is currently completing feasibility studies on the Pinson project at a cost of $30-million (U.S.), to be completed by April, 2009;
A 0.63-per-cent net smelter return royalty (different rates apply if gold prices are above or below $400 (U.S.) per ounce) that covers approximately 10 per cent of the Gold Hill deposit. This Barrick Gold and Kinross Gold project is in predevelopment with mine and construction planning to attain production in 2009 or 2010;
A 4-per-cent net smelter return royalty on Radius Gold's Tambor gold property in Guatemala;
A 0.526-per-cent working interest in one well and a 2.612-per-cent working interest in two oil wells, located in Sheridan county, Mont.

The Pinson royalty further increases IRC's holdings in the Pinson district of Nevada. Over the past three years, IRC has made two purchases on the Pinson trend and established itself as the largest owner of Pinson royalty interests, covering approximately 80 per cent of the known high-grade gold resources (measured and indicated resources of 2.23 million tonnes grading 14.4 grams per tonne gold for 1.06 million ounces plus inferred resources of 3.1 million tonnes grading 11.7 g/t gold) located on fee lands not subject to the proposed changes in the federal mining law. With the addition of the Goldcorp Pinson royalty, IRC's interests on the known Pinson resources provide the company with a higher total royalty rate of 4.23 per cent (on the unpatented claims the royalty rate is calculated as 6 per cent less other existing royalties less any federally imposed royalties) and additional exposure to 14 square miles of regional exploration potential in the Pinson district.

The newly acquired royalty on the Gold Hill project expands the company's position to a 0.90-per-cent net smelter return. This project is at the feasibility stage and represents an extension of the large Round Mountain gold mine in Nevada. Joint operators, Kinross Gold and Barrick Gold, are completing feasibility studies on this project.

In addition to these acquisitions IRC has seen strong internal growth from its gold royalty portfolio during the year. Highlights from the portfolio are detailed below.

On Sept. 21, 2007, at its North American road show presentation, St. Barbara Ltd. provided its objectives for the next 12 months. These include:

Production of 175,000 ounces of gold per year at the Southern Cross mine;
Commencement of gold production at the Gwalia Deeps project by September of 2008;
Establishment of reserves and commencement of mining at the Tower Hill deposit;
Expansion of open pit reserves at the Southern Cross mine.

On Aug. 9, 2007, Mercator Gold PLC announced that production had commenced on its Meekatharra gold project, also located in Western Australia. Commissioning of the Bluebird mill began during the second week of July and achieved full production by the end of September, 2007. In its first full year of operation, commencing Oct. 1, 2007, Mercator expects to produce 120,000 ounces of gold at its Meekatharra mine.

IRC owns a 1.5-per-cent net smelter return royalty on the Southern Cross, Meekatharra, Gwalia Deeps and Tower Hill projects. IRC purchased this royalty for $10.2-million (U.S.). At $700 (U.S.) per ounce gold, IRC expects to receive $3.7-million (U.S.) in revenue annually from these projects (2007 to 2010 average revenue per year).

Goldbelt Resources Ltd. is being acquired by Wega Mining ASA for $114-million (Canadian) (see Goldbelt news in Stockwatch on Oct. 18, 2007). Goldbelt's principal asset is the Inata gold deposit on its Belahouro project, located in Burkina Faso. IRC acquired this royalty in February, 2005, for $817,000 (U.S.). In October, 2007, Goldbelt announced proven and probable reserves of 15.4 million tonnes grading 1.9 g/t gold for 944,000 ounces, using a 0.8 g/t gold cut-off (see Goldbelt news in Stockwatch on Oct. 16, 2007).

IRC holds a sliding-scale net smelter return royalty on the Chilean side of the Pascua Lama gold project. At a gold price of $700 (U.S.) per ounce, this royalty is expected to pay in excess of $13-million (U.S.) per year to IRC. The mine has a projected life of more than 20 years. According to the most recent timeline published by the project's operator, Barrick Gold, production is expected to begin in 2010. The operator continues to advance its negotiations with the Argentine government on fiscal matters. Completion of these negotiations is expected to trigger the commencement of a three-year project construction schedule.

New production and expansion of output at existing mines, as well as growth in reserves and resources, illustrate the benefit of purchasing royalty portfolios which include both production and upside potential from earlier stage, preproduction projects. This growth is completely organic to IRC and does not require any additional capital investment or shareholder dilution on the part of the company.

This press release has been reviewed by Nick Michael of SRK Consulting (U.S.) Inc, a qualified person for the purposes of National Instrument 43-101.

Goldcorp to pay 1.5-U.S.-cent dividend

2007-12-10 11:26 ET - News Release

Mr. Jeff Wilhoit reports


Goldcorp Inc. has declared its 12th monthly dividend payment for 2007 of 1.5 U.S. cents per share. Shareholders of record at the close of business on Friday, Dec. 21, 2007, will be entitled to receive payment of this dividend on Friday, Dec. 28, 2007.
Goldcorp Inc.'s gold production in 2007 rose 35% to 2.29 million ounces, reaching the high end of its guidance range of 2.2-2.3 million ounces, while fourth-quarter production reached a record 633,000 ounces.

The Vancouver gold company said total cash costs for 2007 haven't been finalized, but are expected to be slightly higher than its guidance of $150 an ounce due mainly to lower copper prices during the fourth quarter. Goldcorp said it expects to produce about 2.6 million ounces of gold in 2008 at a total cash cost of about $250 an ounce. It cited a number of reasons for the increased cash costs, such as a 2007 joint-venture asset swap that added gold production, the first full year of commercial production at the Los Filos mine in Mexico, a lower forecasted by-product copper price, and cost inflation and foreign-exchange effects.
Globe/wire say Goldcorp 2007 production glitters

2008-01-09 05:39 ET - In the News

The Globe and Mail reports in its Wednesday edition that Goldcorp says its gold production increased 35 per cent in 2007 to 2.29 million ounces. A Bloomberg dispatch to The Globe reports the production figure came in at the high end of Goldcorp's forecast. The fourth quarter produced a record 633,000 ounces. Expectataions are for production to rise by 14 per cent this year. The capital spending budget for 2008 stands at $1.2-billion (U.S.) this year. The number drops to $1.1-billion (U.S.) in 2009. Total cash costs for 2007 have not yet been compiled, but are expected to be slightly higher than the guidance of $150 (U.S.) per gold ounce, due primarily to lower copper prices during the fourth quarter. In 2008, the company expects to produce about 2.6 million ounces of gold at a total cash cost of about $250 (U.S.) per ounce. Expectations are for production to rise throughout the year as cash costs decrease due to a sequential ramp-up in production at Los Filos in Mexico and increased second-half production at Red Lake after a mine expansion project. Red Lake is Canada's largest gold mine. Goldcorp's Canadian mines will represent over half of the company's 2008 gold production.

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