Toronto Stock Exchange: G
New York Stock Exchange: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER,
March 28, 2012 /PRNewswire/ -
GOLDCORP INC. (TSX: G) (NYSE: GG) 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.
SOURCE Goldcorp Inc.