TSX: G NYSE: GG
(All amounts in $US unless stated otherwise)
VANCOUVER, Oct. 29, 2015 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) today reported record third quarter gold
production1 of 922,200 ounces, an increase of 42%
compared to gold production of 651,700 ounces in the third quarter
of 2014. Adjusted quarterly revenues1 were
$1.3 billion. Adjusted
operating cash flow1,2 was $374 million, compared to $399 million for the third quarter of 2014. Free
cash flow3 was $243
million, compared to negative free cash flow of $355 million for the third quarter of
2014.
The reported net loss attributable to shareholders of Goldcorp
for the quarter was $192 million, or
$0.23 per share, compared to a net
loss of $44 million, or $0.05 per share, for the third quarter of
2014. The adjusted net loss1,4 was $37 million, or $0.04 per share, compared to adjusted net
earnings of $70 million, or
$0.09 per share, for the third
quarter of 2014. Included in the adjusted net loss is a
reduction in the carrying values of inventory stockpiles of
$40 million, or $0.05 per share.
Third Quarter 2015 Highlights
- Gold sales1 of 942,600 ounces; gold production of
922,200 ounces.
- Free cash flow of $243 million
before dividends; $168 million after
dividends.
- Revolving credit facility fully repaid.
- Adjusted revenues of $1.3
billion.
- All-in sustaining costs1,5 of $848 per ounce.
- Adjusted operating cash flow of $374
million.
- Adjusted net loss of $37 million,
or $0.04 per share.
- 2015 production and cost guidance re-confirmed.
- Announced joint venture (50/50) with Teck Resources Limited
("Teck") to combine El Morro and Relincho projects into a single
project.
"Our third quarter results highlight the essence of Goldcorp's
investment proposition: growing gold production, declining all-in
sustaining costs and decreasing capital spending resulting in
strong, sustained free cash flow, despite lower metals prices,"
said Chuck Jeannes, Goldcorp
President and Chief Executive Officer. "Record quarterly gold
production, successful cost containment efforts and the wind-down
of a capital investment program that has brought two high-quality
gold mines into commercial production this year contributed to
quarterly free cash flow of $243
million. The benefit of managing a strong portfolio of
mines was illustrated in the quarter as good results at Peñasquito,
Cerro Negro and Musselwhite more than offset lower-than-expected
production from Éléonore as the mine continues to ramp up. As
a result, we remain on track to meet the upper end of our
production guidance of between 3.3 and 3.6 million ounces at all-in
sustaining costs of between $850 and
$900 per ounce. Our focus over the balance of 2015 and
into 2016 is on vigilant management of our costs in the current
gold price environment, successful replacement of mined gold
reserves and the prudent allocation of free cash flow to fortify
our already-strong balance sheet and fund the next wave of
Goldcorp's promising organic growth opportunities."
Financial Review
Third quarter gold sales were 942,600 ounces at an average
realized gold price of $1,114 per
ounce on production of 922,200 ounces, compared to sales of 641,400
ounces at an average realized gold price of $1,266 per ounce on production of 651,700 ounces
for the third quarter of 2014. Silver production totaled 11.3
million ounces compared to 7.8 million ounces in the prior year's
third quarter. All-in sustaining costs were $848 per ounce of gold for the third quarter of
2015 compared to $1,066 per ounce in
the third quarter of 2014. Excluding non-cash inventory
impairments at Los Filos and Peñasquito, all-in sustaining costs
for the third quarter of 2015 would have been $802 per ounce.
Adjusted revenues for the third quarter totaled $1.3 billion. The reported net loss
attributable to shareholders of Goldcorp for the third quarter was
$192 million, or $0.23 per share, compared to a net loss of
$44 million, or $0.05 per share, for the third quarter of 2014.
Adjusted net loss for the third quarter totaled $37 million, or $0.04 per share, compared to adjusted net
earnings of $70 million, or
$0.09 per share, for the third
quarter of 2014.
The adjusted net loss for the third quarter of 2015 primarily
excludes the unrealized losses from the foreign exchange
translation of deferred income tax assets and liabilities
($158 million, or $0.19 per share). The adjusted net loss includes
the impact of non-cash stock-based compensation expenses which
amounted to approximately $14
million, or $0.02 per share,
for the quarter. Adjusted operating cash flow for the third
quarter was $374 million, compared to
$399 million for the third quarter of
2014.
Canada
At Éléonore in Quebec, third
quarter safe gold production totaled 86,700 ounces at an all-in
sustaining cost of $974 per
ounce. Production increased over the prior quarter as a
result of the expansion of underground mining from two to four
horizons, in addition to successful mine optimization
initiatives. Stoping productivity and mining flexibility
continued to improve, contributing to higher underground mine
tonnage quarter over quarter. Throughput during the quarter
averaged 6,500 tonnes per day. While recoveries in the third
quarter were impacted by the presence of iron sulphides in certain
production stopes, metallurgical studies are underway that are
expected to minimize the effect on future recoveries.
As previously reported on September 8,
2015, initial production stopes at Éléonore are encountering
folding and faulting resulting in higher dilution and therefore
lower than planned mined grades and gold production. The folding is
of varying intensities and is estimated to affect approximately 10%
of the overall Éléonore deposit. The Éléonore team continues
to work on adjusting stope designs to minimize these
impacts.
Work on the Éléonore crown pillar pre-feasibility study
continued to advance during the third quarter. Major
activities included the successful completion of summer field work,
underground and surface infrastructure and stope sequencing
determination of the dike location, and permitting and stakeholder
engagement efforts. The pre-feasibility study is on track to
be completed by the end of 2015.
Safe gold production at Red
Lake in Ontario in the
third quarter totaled 77,600 ounces at an all-in sustaining cost of
$1,028 per ounce. Production
decreased over the prior quarter as a result of lower grades from
remnant pillar mining at the Campbell Complex, the acceleration of
development in the Sulphide Zones and lower-than-expected grades in
the Footwall Zone. An exploration drift to access the HG
Young discovery at depth continued to advance north on the 14 Level
at the Campbell Complex. The drift provides a new platform
for follow-up drilling down plunge of positive intercepts from the
ongoing surface exploration program at HG Young.
At Cochenour, exploration
drilling continued to assess the core area of the deposit as well
as at the tram level, where there have been changes in the
orientation of the veins from prior interpretations. Detailed
interpretation and analysis is ongoing to support final mine
planning and infrastructure. Processing of mill feed from the
initial sill-development work was consistent with expectations.
Work is ongoing to define the timing of initial stope production
and ramp up of Cochenour feed for
processing at Red Lake.
At Porcupine in Ontario, safe gold production for the third
quarter was 71,000 ounces at an all-in sustaining cost of
$882 per ounce. Production
decreased over the prior quarter due to lower gold grades, driven
primarily by the mining of lower-grade stopes at the Hoyle Pond
underground, partially offset by higher tonnage milled as a
result of improved mill operations during the quarter.
The Hoyle Deep project, which will enable efficient access to
lower portions of the Hoyle Pond deposit, continued to progress and
remains on track to be fully operational in the first quarter of
2016. At the Hollinger open pit, the environmental control
berm was completed in mid-October, enabling mining to take place 24
hours a day.
At the Borden project 160
kilometres west of Porcupine,
studies are underway to determine the optimization of a combined
Borden-Porcupine operation. Options to access
the deposit from underground are currently being evaluated in
preparation for permit applications. Surface diamond drilling
continued during the third quarter with seven drills on site.
The current exploration activity in this new gold district remains
focused on in-fill drilling with a target to convert a portion of
the resources into reserves at the end of 2015.
Safe gold production at Musselwhite in Ontario increased over the prior quarter to
71,000 ounces as a result of higher mill throughput and increased
grades. Musselwhite's all-in sustaining cost continued to be
among the lowest in the portfolio at $697 per ounce. The focus of the
exploration program during the third quarter was on reserve
replacement. Drilling concluded late in the third quarter on the
West Limb zone and the Upper Lynx zone with positive results
showing continuity of mineralization in both areas. All
critical exploration development for the year is complete.
Latin America
At Peñasquito in Mexico, safe
gold production totaled 236,800 ounces for the quarter at an all-in
sustaining cost of $467 per ounce.
Production was driven primarily by higher gold grades in
sulphide as a result of positive model reconciliation. In
light of continued strong performance, production at Peñasquito
will exceed 2015 guidance of between 700,000 and 750,000
ounces.
Construction of the Northern Well Field ("NWF") remained
suspended throughout the third quarter of 2015 due to an illegal
blockade by a local community. Peñasquito continues to seek a
fair resolution of this matter with the community, while taking
steps to enforce its contractual rights. Peñasquito is also
advancing alternatives for completion of the project without
crossing through the affected community lands. Contingency
planning is ongoing for fresh water supply to the Peñasquito mine
until the NWF project is operational. The Company believes
that there will be timely resolution of this matter to meet the
future water needs of Peñasquito.
The Metallurgical Enhancement Project ("MEP") feasibility study
continued, which included completion of pilot testing, confirming
capital estimates and concentrate marketing studies. The
feasibility study remains on schedule to be completed in early
2016.
At the Camino Rojo project, ongoing pre-feasibility study work
is focused on the evaluation of Camino Rojo as a supplemental
source of sulphide feed to the existing Peñasquito facility, in
addition to a smaller, stand-alone oxide heap leach facility.
An update of the geologic model continued during the third quarter
and metallurgical testing of sulphide, transition and oxide zones
is ongoing. The pre-feasibility study is on track to be
completed in 2016.
Safe gold production at Los Filos in Mexico for the third quarter of 2015 totaled
70,300 ounces at an all-in sustaining cost of $1,442 per ounce. Increased production over
the prior quarter was a result of higher ore processed.
The 2015 exploration program to enhance deeper phases of the
El Bermejal pit and extend high grade zones for underground mining
was completed. A new life-of-mine plan is progressing with a
focus to maximize return on investment in the current lower price
metals environment and is expected to be completed by the end of
2015.
At Cerro Negro in Argentina,
third quarter safe gold production totaled 135,700 ounces at an
all-in sustaining cost of $731 per
ounce, driven by the continued strong ramp-up at both the Mariana
Central and Eureka mines. Total tonnes milled increased
resulting in an average throughput rate of 3,697 tonnes per day for
the quarter. Average milling rates for September surpassed
the nameplate capacity of 4,000 tonnes per operating day.
Exploration in the third quarter continued to focus on
surface resource confirmation drilling. The current drilling
program is progressing as planned, expanding resources at the
Marianas Complex, particularly at the newly-discovered Emilia vein.
The Bajo Negro expansion was completed in the third quarter and the
results will be included within the year-end resource
update.
On September 30, 2015, a work
stoppage took place at Cerro Negro by miners represented by the
Asociacion Obrera Minera Argentina, Province of Santa Cruz. All work activity resumed on
October 5, 2015 following the
declaration of a mandatory minimum 15-day conciliation period by
the Santa Cruz Provincial Secretariat of Labour. Subsequent
to the expiration of the conciliation period productive
negotiations continue. The Company remains committed to
working cooperatively with union representatives and government
authorities on a fair and equitable resolution.
At the Pueblo Viejo joint
venture in the Dominican Republic,
Goldcorp's share of third quarter safe gold and silver production
totaled 115,000 ounces and 502,700 ounces, respectively, at an
all-in sustaining cost of $585 per
ounce. Gold production increased over the prior quarter as a
result of higher tonnes processed, grades and recoveries.
Silver production increased primarily due to higher
recoveries. Tonnage processed was higher in the third
quarter due to the prior quarter being impacted by autoclave and
counter current decantation thickener maintenance. Silver
recoveries were higher due to the shut-down of the lime boil tanks
during autoclave maintenance in the prior quarter.
At El Morro in Chile, an
agreement was reached with Teck on August
27, 2015 to combine the El Morro and Relincho projects into
a 50/50 joint venture. In addition, an agreement was reached with
New Gold to acquire New Gold's 30% interest in the El Morro project
for $90 million in cash upon closing,
and a 4% gold stream on future gold production from the El Morro
property. Closing of both transactions is expected to occur in the
fourth quarter of 2015. The project will undertake extensive
engagement with communities and other stakeholders to help guide
the project's development. In combination with community
consultation, a pre-feasibility study is expected to commence in
mid-2016.
2015 Guidance Outlook
The Company today reconfirmed 2015 production guidance, expected
to be at the upper-end of between 3.3 and 3.6 million gold
ounces. All-in sustaining costs are expected to be between
$850 and $900 per gold ounce;
$500 and $550 per ounce on a
by-product basis; and $625 to $675
per ounce on a co-product basis. Depreciation, depletion and
amortization ("DD&A") will increase to $450 per gold ounce from the previous guidance of
$425 per gold ounce due primarily to
production coming from our newer and higher DD&A per ounce
sites and additional assets placed in service earlier than
anticipated. Capital spending guidance remains unchanged at
between $1.2 billion and $1.4 billion
for 2015. Corporate administration expense guidance,
excluding share-based compensation, is expected to be approximately
$170 million in 2015. Excluding the
impacts of foreign exchange on current and deferred tax assets and
liabilities and excluding the dilution and disposition gains on the
sale of mining interests and the related taxes, the Company
continues to expect an annual effective tax rate on adjusted
earnings subject to income tax of 45% in 2015.
About
Goldcorp
Goldcorp is a leading gold producer focused on responsible
mining practices with safe, low-cost production throughout the
Americas. A portfolio of long-lived, high-quality assets
positions the Company to deliver long-term value.
This release should be read in conjunction with Goldcorp's third
quarter 2015 interim consolidated financial statements and MD&A
report on the Company's website, in the "Investor Resources –
Reports & Filings" section under "Quarterly Reports".
A conference call will be held on October
29, 2015 at 10:00 a.m. (PDT)
to discuss the third quarter results. Participants may join the
call by dialing toll free 1-800-355-4959 or 1-416-340-2216 for
calls from outside Canada and the
US. A recorded playback of the call can be accessed after the
event until November 29, 2015 by
dialing 1-800-408-3053 or 1-905-694-9451 for calls outside
Canada and the US. Pass
code: 2588552. A live and archived audio webcast will also be
available at www.goldcorp.com.
(1)
|
The Company has
included non-GAAP performance measures on an attributable (or
Goldcorp's share) basis throughout this document. Attributable
performance measures include the Company's mining operations,
including its discontinued operation, and projects, and the
Company's share of Alumbrera and Pueblo Viejo. The Company believes
that disclosing certain performance measures on an attributable
basis is a more relevant 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.
Refer to note 10 of the Q3 2015 Financial Statements for a
reconciliation of adjusted revenues to reported
revenues.
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(2)
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Adjusted operating
cash flows and adjusted operating cash flows per share are non-GAAP
performance measures which comprises Goldcorp's share of operating
cash flows before working capital changes and which the Company
believes provides additional information about the Company's
ability to generate cash flows from its mining operations.
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. Refer to
page 42 of the Q3 2015 MD&A for a reconciliation of adjusted
operating cash flows to reported net cash provided by operating
activities.
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(3)
|
Free cash flow is a
non-GAAP performance measure which the Company believes, in
addition to conventional measures prepared in accordance with GAAP,
the Company and certain investors use to evaluate the Company's
ability to generate cashflows. 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. Free cash flows are calculated by
deducting from net cash provided by operating activities,
Goldcorp's share of expenditures on mining interests, deposits on
mining interest expenditures and capitalized interest paid, and
adding Goldcorp's share of net cash provided by operating
activities from Alumbrera and Pueblo Viejo. Refer to page 42 of the
Q3 2015 MD&A for a reconciliation of free cash flows to
reported net cash provided by operating activities.
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(4)
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Adjusted net earnings
(loss) and adjusted net earnings (loss) per share are non-GAAP
performance measures. 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. 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. Refer to page 41 of the Q3 2015 MD&A for a
reconciliation of adjusted net earnings (loss) to reported net
earnings (loss) attributable to shareholders of
Goldcorp.
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(5)
|
For 2014, the Company
adopted an "all-in sustaining cost" 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 and amortization. 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. Refer to page 39 of
the Q3 2015 MD&A for a reconciliation of all-in sustaining
costs.
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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,
targeted cost reductions, the ability of the parties to satisfy the
conditions of and to complete the Project Corridor transaction (the
"Transaction") with Teck Resources and the transaction with New
Gold to acquire the remaining
30% of the El Morro Project (the "New Gold Transaction"), the
development of Project Corridor as a mine, capital expenditures,
free cash flow, costs and timing of the development of new
deposits, success of exploration activities, development at
existing mines, permitting timelines, hedging practices, currency
exchange rate fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, the completion of technical
studies and reports, 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", or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "does not anticipate", "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 necessarily based upon certain
estimates and 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 estimates and 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, the Transaction or the New Gold
Transaction not being completed as planned,mining operational and
development risks, increased costs, delays, suspensions and
technical challenges associated with capital projects, litigation
risks, regulatory restrictions (including environmental regulatory
restrictions and liability), activities by governmental authorities
(including changes in taxation), delays, suspension and technical
challenges associated with capital projects, higher prices for
fuel, steel, power, labour and other consumables, 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, zinc and other commodities; possible variations in
ore reserves, grade or recovery rates; the risk that the
Transaction or the New Gold Transaction is not completed as
planned, 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, 2014
available at www.sedar.com and the United States Securities and
Exchange Commission at www.sec.gov. 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 or incorporated by reference in this document, except in
accordance with applicable securities laws.
SUMMARIZED FINANCIAL RESULTS AND FINANCIAL
STATEMENTS FOLLOW
SUMMARIZED FINANCIAL RESULTS
(in millions of United States
dollars, except per share amounts and where noted)
|
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Three Months
Ended
|
|
|
September
30
|
Goldcorp's
share (1)
|
|
2015
|
|
2014
|
Revenues
|
|
|
1,299
|
|
|
1,088
|
Gold produced
(ounces)
|
|
|
922,200
|
|
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651,700
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Gold sold
(ounces)
|
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|
942,600
|
|
|
641,400
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Silver
produced (ounces)
|
|
|
11,313,500
|
|
|
7,815,800
|
Silver sold
(ounces)
|
|
|
11,036,600
|
|
|
8,454,400
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Copper
produced (thousands of pounds)
|
|
|
12,300
|
|
|
16,800
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Copper sold
(thousands of pounds)
|
|
|
14,700
|
|
|
18,600
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Lead produced
(thousands of pounds)
|
|
|
49,200
|
|
|
37,000
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Lead sold
(thousands of pounds)
|
|
|
49,100
|
|
|
41,400
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Zinc produced
(thousands of pounds)
|
|
|
111,500
|
|
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81,000
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Zinc sold
(thousands of pounds)
|
|
|
118,700
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|
|
85,400
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Average realized
gold price (per ounce)
|
|
$
|
1,114
|
|
$
|
1,266
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Average London
spot gold price (per ounce)
|
|
$
|
1,124
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|
$
|
1,282
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Average realized
silver price (per ounce)
|
|
$
|
13.01
|
|
$
|
15.71
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Average London
spot silver price (per ounce)
|
|
$
|
14.91
|
|
$
|
19.75
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Average realized
copper price (per pound)
|
|
$
|
2.29
|
|
$
|
2.98
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Average London
spot copper price (per pound)
|
|
$
|
2.38
|
|
$
|
3.17
|
Average realized
lead price (per pound)
|
|
$
|
0.76
|
|
$
|
0.98
|
Average London
spot lead price (per pound)
|
|
$
|
0.78
|
|
$
|
0.99
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Average realized
zinc price (per pound)
|
|
$
|
0.75
|
|
$
|
1.07
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Average London
spot zinc price (per pound)
|
|
$
|
0.84
|
|
$
|
1.05
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Total cash costs –
by-product (per gold ounce)
|
|
$
|
597
|
|
$
|
597
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Total cash costs –
co-product (per gold ounce)
|
|
$
|
670
|
|
$
|
682
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All-in sustaining
costs (per gold ounce)
|
|
$
|
848
|
|
$
|
1,066
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All-in costs
(per gold ounce)
|
|
$
|
949
|
|
$
|
1,566
|
|
|
|
|
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Production
Data:
|
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Red Lake
mines:
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Tonnes of ore
milled
|
|
|
160,600
|
|
|
164,400
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Average mill head
grade (grams per tonne)
|
|
|
15.69
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|
|
20.80
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Gold ounces
produced
|
|
|
77,600
|
|
|
99,600
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Total cash costs –
by-product (per ounce)
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$
|
601
|
|
$
|
533
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
1,028
|
|
$
|
955
|
Porcupine
mines:
|
Tonnes of ore
milled
|
|
|
1,115,700
|
|
|
1,123,600
|
|
Average mill head
grade (grams per tonne)
|
|
|
2.16
|
|
|
2.22
|
|
Gold ounces
produced
|
|
|
71,000
|
|
|
74,300
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
725
|
|
$
|
663
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
882
|
|
$
|
946
|
Musselwhite
mine:
|
Tonnes of ore
milled
|
|
|
320,600
|
|
|
263,600
|
|
Average mill head
grade (grams per tonne)
|
|
|
7.28
|
|
|
7.67
|
|
Gold ounces
produced
|
|
|
71,000
|
|
|
62,500
|
|
Total cash costs –
by-product (per ounce)
|
|
|
541
|
|
|
654
|
|
All-in sustaining
costs (per ounce)
|
|
|
697
|
|
|
897
|
Éléonore
mine:
|
Tonnes of ore
milled
|
|
|
536,000
|
|
|
169,800
|
|
Average mill head
grade (grams per tonne)
|
|
|
5.78
|
|
|
4.20
|
|
Gold ounces
produced
|
|
|
86,700
|
|
|
18,300
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
915
|
|
$
|
—
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
974
|
|
$
|
—
|
Peñasquito
mines:
|
Tonnes of ore
mined
|
|
|
10,590,600
|
|
|
8,709,700
|
|
Tonnes of waste
removed
|
|
|
40,196,000
|
|
|
38,173,700
|
|
Tonnes of ore
milled
|
|
|
9,419,000
|
|
|
10,446,900
|
|
Average head grade
(grams per tonne) – gold
|
|
|
1.08
|
|
|
0.59
|
|
Average head grade
(grams per tonne) – silver
|
|
|
32.72
|
|
|
23.21
|
|
Average head grade
(%) – lead
|
|
|
0.34
|
|
|
0.23
|
|
Average head grade
(%) – zinc
|
|
|
0.76
|
|
|
0.52
|
|
Gold ounces
produced
|
|
|
236,800
|
|
|
129,500
|
|
Silver ounces
produced
|
|
|
7,472,300
|
|
|
5,569,300
|
|
Lead (thousands of
pounds) produced
|
|
|
49,200
|
|
|
37,000
|
|
Zinc (thousands of
pounds) produced
|
|
|
111,500
|
|
|
81,000
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
267
|
|
$
|
579
|
|
Total cash costs –
co-product (per ounce of gold)
|
|
$
|
519
|
|
$
|
819
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
467
|
|
$
|
1,142
|
Los Filos
mine:
|
Tonnes of ore
mined
|
|
|
4,737,200
|
|
|
5,727,700
|
|
Tonnes of waste
removed
|
|
|
11,299,900
|
|
|
10,910,200
|
|
Tonnes of ore
processed
|
|
|
4,719,600
|
|
|
5,722,600
|
|
Average grade
processed (grams per tonne)
|
|
|
0.82
|
|
|
0.73
|
|
Gold ounces
produced
|
|
|
70,300
|
|
|
64,100
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
1,275
|
|
$
|
623
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
1,442
|
|
$
|
808
|
Marlin
mine:
|
Tonnes of ore
milled
|
|
|
318,700
|
|
|
485,000
|
|
Average mill head
grade (grams per tonne) – gold
|
|
|
4.28
|
|
|
2.98
|
|
Average mill head
grade (grams per tonne) – silver
|
|
|
192
|
|
|
113
|
|
Gold ounces
produced
|
|
|
41,800
|
|
|
45,400
|
|
Silver ounces
produced
|
|
|
1,837,300
|
|
|
1,658,000
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
216
|
|
$
|
478
|
|
Total cash costs –
co-product (per ounce)
|
|
$
|
525
|
|
$
|
716
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
759
|
|
$
|
985
|
Cerro Negro
mines:
|
Tonnes of ore
milled
|
|
|
340,100
|
|
|
84,900
|
|
Average mill head
grade (grams per tonne) – gold
|
|
|
13.09
|
|
|
12.48
|
|
Average mill head
grade (grams per tonne) – silver
|
|
|
167.2
|
|
|
272.5
|
|
Gold ounces
produced
|
|
|
135,700
|
|
|
19,000
|
|
Silver ounces
produced
|
|
|
1,501,200
|
|
|
233,700
|
|
Total cash costs –
by-product (per ounce)
|
|
$
|
610
|
|
|
—
|
|
Total cash costs –
co-product (per ounce)
|
|
$
|
661
|
|
|
—
|
|
All-in sustaining
costs (per ounce)
|
|
$
|
731
|
|
|
—
|
Alumbrera mine (37.5%
share):
|
Tonnes of ore
mined
|
|
|
3,636,700
|
|
|
884,500
|
|
Tonnes of waste
removed
|
|
|
5,077,700
|
|
|
3,466,500
|
|
Tonnes of ore
milled
|
|
|
2,933,100
|
|
|
2,964,100
|
|
Average mill head
grade (grams per tonne) – gold
|
|
|
0.25
|
|
|
0.34
|
|
Average mill head
grade (%) – copper
|
|
|
0.24
|
|
|
0.32
|
|
Gold ounces
produced
|
|
|
16,300
|
|
|
22,800
|
|
Copper (thousands of
pounds) produced
|
|
|
12,300
|
|
|
16,800
|
|
Total cash costs –
by-product (per gold ounce)
|
|
$
|
1,504
|
|
$
|
819
|
|
Total cash costs –
co-product (per gold ounce)
|
|
$
|
1,047
|
|
$
|
1,006
|
|
All-in sustaining
costs (per gold ounce)
|
|
$
|
1,925
|
|
$
|
1,404
|
Pueblo Viejo mine
(40% share):
|
Tonnes of ore
mined
|
|
|
2,559,600
|
|
|
1,599,700
|
|
Tonnes of waste
removed
|
|
|
1,539,400
|
|
|
2,002,900
|
|
Tonnes of ore
processed
|
|
|
781,800
|
|
|
655,600
|
|
Average grade (grams
per tonne) – gold
|
|
|
5.23
|
|
|
5.72
|
|
Average grade (grams
per tonne) – silver
|
|
|
36.5
|
|
|
33.9
|
|
Gold ounces
produced
|
|
|
115,000
|
|
|
112,200
|
|
Silver ounces
produced
|
|
|
502,700
|
|
|
354,800
|
|
Copper (thousands of
pounds) produced
|
|
|
—
|
|
|
—
|
|
Total cash costs –
by-product (per gold ounce)
|
|
$
|
481
|
|
$
|
438
|
|
Total cash costs –
co-product (per gold ounce)
|
|
$
|
497
|
|
$
|
481
|
|
All-in sustaining
costs (per gold ounce)
|
|
$
|
585
|
|
$
|
559
|
|
|
|
|
|
|
|
|
Financial Data
(including discontinued operations):
|
|
|
|
|
|
|
Cash flows from
operating activities
|
|
$
|
443
|
|
$
|
192
|
Adjusted operating
cash flows (Goldcorp's share) (2)
|
|
$
|
374
|
|
$
|
399
|
Adjusted operating
cash flows per share (2)
|
|
$
|
0.45
|
|
$
|
0.49
|
Free cash
flows
|
|
$
|
243
|
|
$
|
(355)
|
Net (loss) earnings
attributable to shareholders of Goldcorp Inc.
|
|
$
|
(192)
|
|
$
|
(44)
|
Net (loss) earnings
per share – basic
|
|
$
|
(0.23)
|
|
$
|
(0.05)
|
Adjusted net (loss)
earnings (3)
|
|
$
|
(37)
|
|
$
|
70
|
Adjusted net (loss)
earnings per share – basic (3)
|
|
$
|
(0.04)
|
|
$
|
0.09
|
Weighted average
shares outstanding (000's)
|
|
|
830,203
|
|
|
813,572
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS
(In millions of United States
dollars, except for per share amounts – Unaudited)
|
|
Three Months
Ended
September
30
|
|
Nine Months
Ended
September
30
|
|
|
|
2015
|
|
|
2014
|
|
|
2015
|
|
|
2014
|
Revenues
|
|
$
|
1,098
|
|
$
|
839
|
|
$
|
3,303
|
|
$
|
2,601
|
Mine operating
costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Production
costs
|
|
|
(658)
|
|
|
(516)
|
|
|
(1,918)
|
|
|
(1,497)
|
|
Depreciation and
depletion
|
|
|
(394)
|
|
|
(191)
|
|
|
(1,072)
|
|
|
(538)
|
|
|
|
(1,052)
|
|
|
(707)
|
|
|
(2,990)
|
|
|
(2,035)
|
Earnings from mine
operations
|
|
|
46
|
|
|
132
|
|
|
313
|
|
|
566
|
Exploration and
evaluation costs
|
|
|
(11)
|
|
|
(12)
|
|
|
(39)
|
|
|
(29)
|
Share of net earnings
of associates
|
|
|
7
|
|
|
15
|
|
|
23
|
|
|
131
|
Impairment of mining
interests and goodwill
|
|
|
—
|
|
|
(19)
|
|
|
—
|
|
|
(19)
|
Corporate
administration
|
|
|
(51)
|
|
|
(63)
|
|
|
(159)
|
|
|
(188)
|
(Loss) earnings
from operations and associates
|
|
|
(9)
|
|
|
53
|
|
|
138
|
|
|
461
|
Losses on
derivatives
|
|
|
(21)
|
|
|
(14)
|
|
|
(55)
|
|
|
(6)
|
Gain on dilution of
ownership interest in associate
|
|
|
—
|
|
|
—
|
|
|
99
|
|
|
—
|
Gain on disposition
of mining interest, net of transaction costs
|
|
|
—
|
|
|
—
|
|
|
315
|
|
|
18
|
Finance
costs
|
|
|
(34)
|
|
|
(14)
|
|
|
(104)
|
|
|
(41)
|
Other income
(expenses)
|
|
|
9
|
|
|
10
|
|
|
30
|
|
|
(12)
|
(Loss) earnings
from continuing operations before taxes
|
|
|
(55)
|
|
|
35
|
|
|
423
|
|
|
420
|
Income tax
expense
|
|
|
(136)
|
|
|
(83)
|
|
|
(355)
|
|
|
(185)
|
Net (loss)
earnings from continuing operations
|
|
|
(191)
|
|
|
(48)
|
|
|
68
|
|
|
235
|
Net earnings from
discontinued operations
|
|
|
—
|
|
|
4
|
|
|
46
|
|
|
2
|
Net (loss)
earnings
|
|
$
|
(191)
|
|
$
|
(44)
|
|
$
|
114
|
|
$
|
237
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
earnings from continuing operations attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders of
Goldcorp Inc.
|
|
$
|
(192)
|
|
$
|
(48)
|
|
$
|
67
|
|
$
|
233
|
|
Non-controlling
interest
|
|
|
1
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|
$
|
(191)
|
|
$
|
(48)
|
|
$
|
68
|
|
$
|
235
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
earnings attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders of
Goldcorp Inc.
|
|
$
|
(192)
|
|
$
|
(44)
|
|
$
|
113
|
|
$
|
235
|
|
Non-controlling
interest
|
|
|
1
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|
$
|
(191)
|
|
$
|
(44)
|
|
$
|
114
|
|
$
|
237
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
earnings per share from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.23)
|
|
$
|
(0.06)
|
|
$
|
0.08
|
|
$
|
0.29
|
|
Diluted
|
|
|
(0.23)
|
|
|
(0.06)
|
|
|
0.08
|
|
|
0.28
|
Net (loss)
earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.23)
|
|
$
|
(0.05)
|
|
$
|
0.14
|
|
$
|
0.29
|
|
Diluted
|
|
|
(0.23)
|
|
|
(0.05)
|
|
|
0.14
|
|
|
0.28
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS) INCOME
(In millions of United States
dollars – Unaudited)
|
|
Three Months
Ended
September
30
|
|
Nine Months
Ended
September
30
|
|
|
|
2015
|
|
|
2014
|
|
|
2015
|
|
|
2014
|
Net (loss)
earnings
|
|
$
|
(191)
|
|
$
|
(44)
|
|
$
|
114
|
|
$
|
237
|
Other
comprehensive (loss) income, net of tax
|
|
|
|
|
|
|
|
|
|
|
|
|
Items that may be
reclassified subsequently to net (loss) earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mark-to-market
(losses) gains on available-for-sale securities
|
|
|
(7)
|
|
|
(10)
|
|
|
(6)
|
|
|
12
|
|
Reclassification
adjustment for available-for-sale securities
impairment losses included in net (loss)
earnings
|
|
|
2
|
|
|
1
|
|
|
6
|
|
|
2
|
|
Reclassification
adjustment for realized gain on disposition of
available-for-sale securities recognized
in net (loss) earnings
|
|
|
—
|
|
|
(5)
|
|
|
(1)
|
|
|
(10)
|
|
Reclassification of
cumulative mark-to-market gains on shares
of Probe Mines Ltd. on
acquisition
|
|
|
—
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
|
(5)
|
|
|
(14)
|
|
|
(4)
|
|
|
4
|
Items that will not
be reclassified to net (loss) earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurements on
defined benefit pension plans
|
|
|
—
|
|
|
3
|
|
|
(1)
|
|
|
(1)
|
Total other
comprehensive (loss) income, net of tax
|
|
|
(5)
|
|
|
(11)
|
|
|
(5)
|
|
|
3
|
Total
comprehensive (loss) income
|
|
$
|
(196)
|
|
$
|
(55)
|
|
$
|
109
|
|
$
|
240
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
comprehensive (loss) income attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders of
Goldcorp Inc.
|
|
$
|
(197)
|
|
$
|
(55)
|
|
$
|
108
|
|
$
|
238
|
|
Non-controlling
interests
|
|
|
1
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|
$
|
(196)
|
|
$
|
(55)
|
|
$
|
109
|
|
$
|
240
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions of United States
dollars – Unaudited)
|
|
Three Months
Ended
September
30
|
|
Nine Months
Ended
September
30
|
|
|
|
2015
|
|
|
2014
|
|
|
2015
|
|
|
2014
|
Operating
activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) earnings
from continuing operations
|
|
$
|
(191)
|
|
$
|
(48)
|
|
$
|
68
|
|
$
|
235
|
Adjustments
for:
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends from
associates
|
|
|
—
|
|
|
38
|
|
|
7
|
|
|
105
|
Reclamation
expenditures
|
|
|
(17)
|
|
|
(11)
|
|
|
(49)
|
|
|
(21)
|
Items not affecting
cash:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Write-down of
inventories
|
|
|
43
|
|
|
41
|
|
|
43
|
|
|
41
|
|
Depreciation and
depletion
|
|
|
394
|
|
|
191
|
|
|
1,072
|
|
|
538
|
|
Share of net earnings
of associates
|
|
|
(7)
|
|
|
(15)
|
|
|
(23)
|
|
|
(131)
|
|
Impairment of mining
interests and goodwill
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
19
|
|
Share-based
compensation
|
|
|
14
|
|
|
19
|
|
|
44
|
|
|
59
|
|
Unrealized (gains)
losses on derivatives
|
|
|
(4)
|
|
|
14
|
|
|
—
|
|
|
2
|
|
Gain on dilution of
ownership interest in an associate
|
|
|
—
|
|
|
—
|
|
|
(99)
|
|
|
—
|
|
Gain on disposition
of mining interests, net of transaction costs
|
|
|
—
|
|
|
—
|
|
|
(315)
|
|
|
(18)
|
|
Revision of estimates
and accretion of reclamation and closure cost
obligations
|
|
|
6
|
|
|
5
|
|
|
39
|
|
|
34
|
|
Deferred income tax
expense
|
|
|
77
|
|
|
116
|
|
|
123
|
|
|
54
|
|
Other
|
|
|
1
|
|
|
5
|
|
|
3
|
|
|
12
|
Change in working
capital
|
|
|
127
|
|
|
(186)
|
|
|
109
|
|
|
(212)
|
Net cash provided by
operating activities of continuing operations
|
|
|
443
|
|
|
188
|
|
|
1,022
|
|
|
717
|
Net cash provided by
operating activities of discontinued operations
|
|
|
—
|
|
|
4
|
|
|
7
|
|
|
23
|
Investing
activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of mining
property, net of cash acquired
|
|
|
—
|
|
|
—
|
|
|
(43)
|
|
|
—
|
Expenditures on
mining interests
|
|
|
(230)
|
|
|
(448)
|
|
|
(923)
|
|
|
(1,409)
|
Deposits on mining
interests expenditures
|
|
|
(2)
|
|
|
(50)
|
|
|
(15)
|
|
|
(105)
|
Return of capital
investment in associate
|
|
|
55
|
|
|
—
|
|
|
75
|
|
|
—
|
Proceeds from
disposition of mining interests, net of transaction
costs
|
|
|
—
|
|
|
—
|
|
|
788
|
|
|
193
|
Interest
paid
|
|
|
(15)
|
|
|
(40)
|
|
|
(64)
|
|
|
(68)
|
Net purchases of
money market investments and available-for-sale
securities
|
|
|
(22)
|
|
|
(12)
|
|
|
(33)
|
|
|
(36)
|
Other
|
|
|
(1)
|
|
|
—
|
|
|
(2)
|
|
|
—
|
Net cash used in
investing activities of continuing operations
|
|
|
(215)
|
|
|
(550)
|
|
|
(217)
|
|
|
(1,425)
|
Net cash (used in)
provided by investing activities of discontinued
operations
|
|
|
—
|
|
|
(2)
|
|
|
97
|
|
|
204
|
Financing
activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt borrowings, net
of transaction costs
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
988
|
Debt
repayments
|
|
|
(2)
|
|
|
(913)
|
|
|
(14)
|
|
|
(944)
|
Net (repayment) draw
down of revolving credit facility
|
|
|
(835)
|
|
|
550
|
|
|
(840)
|
|
|
550
|
Dividends paid to
shareholders
|
|
|
(75)
|
|
|
(122)
|
|
|
(321)
|
|
|
(366)
|
Common shares
issued
|
|
|
—
|
|
|
1
|
|
|
20
|
|
|
4
|
Other
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|
—
|
Net cash (used in)
provided by financing activities of continuing
operations
|
|
|
(912)
|
|
|
(484)
|
|
|
(1,134)
|
|
|
232
|
Effect of exchange
rate changes on cash and cash equivalents
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
Decrease in cash
and cash equivalents
|
|
|
(683)
|
|
|
(844)
|
|
|
(225)
|
|
|
(249)
|
Cash and cash
equivalents, beginning of the period
|
|
|
940
|
|
|
1,220
|
|
|
482
|
|
|
625
|
Cash and cash
equivalents, end of the period
|
|
$
|
257
|
|
$
|
376
|
|
$
|
257
|
|
$
|
376
|
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
(In millions of United States
dollars – Unaudited)
|
|
|
|
|
At
September 30
2015
|
|
|
At
December 31
2014
|
Assets
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
|
$
|
257
|
|
$
|
482
|
|
Money market
investments
|
|
|
|
|
73
|
|
|
53
|
|
Accounts
receivable
|
|
|
|
|
380
|
|
|
394
|
|
Inventories
|
|
|
|
|
639
|
|
|
772
|
|
Income taxes
receivable
|
|
|
|
|
70
|
|
|
207
|
|
Assets held for
sale
|
|
|
|
|
—
|
|
|
81
|
|
Other
|
|
|
|
|
94
|
|
|
158
|
|
|
|
|
|
1,513
|
|
|
2,147
|
Mining
interests
|
|
|
|
|
|
|
|
|
|
Owned by
subsidiaries
|
|
|
|
|
22,742
|
|
|
22,458
|
|
Investments in
associates
|
|
|
|
|
1,667
|
|
|
2,087
|
|
|
|
|
|
24,409
|
|
|
24,545
|
Goodwill
|
|
|
|
|
479
|
|
|
479
|
Investments in
securities
|
|
|
|
|
32
|
|
|
43
|
Deposits on mining
interests expenditures
|
|
|
|
|
5
|
|
|
32
|
Deferred income
taxes
|
|
|
|
|
8
|
|
|
26
|
Inventories
|
|
|
|
|
225
|
|
|
249
|
Other
|
|
|
|
|
352
|
|
|
345
|
Total
assets
|
|
|
|
$
|
27,023
|
|
$
|
27,866
|
Liabilities
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
Accounts payable and
accrued liabilities
|
|
|
|
$
|
688
|
|
$
|
1,039
|
|
Income taxes
payable
|
|
|
|
|
77
|
|
|
45
|
|
Debt
|
|
|
|
|
177
|
|
|
150
|
|
Liabilities relating
to assets held for sale
|
|
|
|
|
—
|
|
|
55
|
|
Other
|
|
|
|
|
101
|
|
|
167
|
|
|
|
|
|
1,043
|
|
|
1,456
|
Deferred income
taxes
|
|
|
|
|
5,078
|
|
|
4,959
|
Debt
|
|
|
|
|
2,522
|
|
|
3,442
|
Provisions
|
|
|
|
|
675
|
|
|
671
|
Income taxes
payable
|
|
|
|
|
80
|
|
|
80
|
Other
|
|
|
|
|
332
|
|
|
83
|
Total
liabilities
|
|
|
|
|
9,730
|
|
|
10,691
|
Equity
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
|
|
|
Common shares, stock
options and restricted share units
|
|
|
|
|
17,591
|
|
|
17,261
|
|
Accumulated other
comprehensive loss
|
|
|
|
|
(10)
|
|
|
(5)
|
|
Deficit
|
|
|
|
|
(504)
|
|
|
(296)
|
|
|
|
|
|
17,077
|
|
|
16,960
|
Non-controlling
interest
|
|
|
|
|
216
|
|
|
215
|
Total
equity
|
|
|
|
|
17,293
|
|
|
17,175
|
Total liabilities
and equity
|
|
|
|
$
|
27,023
|
|
$
|
27,866
|
SOURCE Goldcorp Inc.