(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 production 1 and preliminary all-in sustaining costs 2 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.
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