Goldcorp holds annual Investor Day; supplemental feed system commissioned at Penasquito
March 27 2012 - 9:02PM
PR Newswire (Canada)
Toronto Stock Exchange: G New York Stock Exchange: GG (All Amounts
in $US unless stated otherwise) VANCOUVER, March 28, 2012 /CNW/ -
GOLDCORP INC. will host its annual Investor Day on Thursday, March
29, 2012 at 8:00am EDT. The senior management team will discuss
details of the mines and projects that are expected to drive 70%
growth in gold production over the next five years. A live
and archived webcast will be available at www.goldcorp.com. At the
Company's flagship Peñasquito mine in Zacatecas, Mexico, the High
Pressure Grinding Roll ("HPGR") supplemental feed system has now
been successfully commissioned, positioning the mine to achieve its
design processing capacity. Peñasquito remains on track to achieve
2012 production guidance of 425,000 ounces of gold, 26 million
ounces of silver, 400 million pounds of zinc and 180 million pounds
of lead. As expected, plant throughput during the first quarter of
2012 has been affected by the tie-in and commissioning of the HPGR
system and planned milling circuit maintenance. Throughput
has averaged over 110,000 tonnes per day over the last three weeks
including record throughput of 143,000 tonnes on March
13. Activities at Peñasquito over the balance of 2012 will
focus on further optimization of the processing line. "The
Peñasquito team has done a tremendous job and I would like to thank
them all for their hard work in completing this final step in
achieving the design capacity," said Chuck Jeannes, Goldcorp
President and Chief Executive Officer. "As the mine continues
to ramp up through 2012 it is expected to be Goldcorp's single
largest contributor of cash flow, providing significant value to
our shareholders." The Company is also expected to provide
development progress updates at its portfolio of high-quality gold
projects. New projects will make significant contributions to
Goldcorp's leading growth profile, with expected first gold
production from new projects as follows: the Pueblo Viejo joint
venture in mid-2012; Cerro Negro in the second half of 2013;
Cochenour, Éléonore and Camino Rojo in late 2014; and El Morro in
2017. 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. 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 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,
amongs 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
economical 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, 2010 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. Goldcorp Inc. CONTACT: Jeff WilhoitVice President,
Investor RelationsGoldcorp Inc.Telephone: (604) 696-3074Fax: (604)
696-3001E-mail: info@goldcorp.comwebsite: www.goldcorp.com
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