(All Amounts in U.S. dollars unless stated otherwise)
VANCOUVER, April 9, 2014 /PRNewswire/ - 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.
- 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.
- 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.