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5:47am 01/31/06 Goldcorp upped at J.P. Morgan, acquisitions cited (GG, CA:G) By Aude Lagorce LONDON (MarketWatch) -- J.P. Morgan upgraded mining company Goldcorp, Inc. (GG) (CA:G) to neutral from underweight, saying that after acquiring Placer Dome and La Coipa, the company will be well positioned for a strong gold market. The broker said that Goldcorp has plans to buy half of the La Coipa mine in Chile. "We believe this transaction, together with the higher gold price, and taking into account the shortage of gold equities, creates an attractive gold equity," J.P. Morgan said.
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Updated:2006-02-06 14:27:47 Goldcorp Declares Second Monthly Dividend Payment for 2006 BUSINESS WIRE VANCOUVER, British Columbia--(BUSINESS WIRE)----(All dollar amounts in United States dollars (US$) -
GOLDCORP INC. (TSX:G)(NYSE:GG) is pleased to declare its second monthly dividend payment for 2006 of $0.015 per share. Shareholders of record at the close of business on Friday, February 17, 2006 will be entitled to receive payment of this dividend on Friday, February 24, 2006.
Goldcorp is the world's lowest cost and fastest growing gold producer. Gold production in 2006 is expected to exceed 2 million ounces at a cash cost of approximately US$150 per ounce and Goldcorp remains unhedged.
Goldcorp says '05 gold sales totaled 1.34M oz vs 428K oz
Last Update: 8:19 PM ET Feb 15, 2006
SAN FRANCISCO (MarketWatch) -- Goldcorp Inc. (GG : goldcorp inc new com News , chart, profile, more Last: 24.65+0.94+3.96%
GG24.65, +0.94, +4.0%) Wednesday evening said gold sales in 2005 totaled 1.34 million ounces, compared to 427,600 ounces in 2004. Cash costs per ounce in 2005 were less than $25, compared to $115 in 2004, the Vancouver, British Columbia-based company said. Goldcorp will acquire certain Placer Dome Inc. (PDG : Placer Dome Inc.
With its high finding costs, Newmont Mining (NEM:NYSE - news - research - Cramer's Take) is no longer a best-of-breed mining company, and it must make an acquisition if it wants to get the title back, Jim Cramer said on CNBC's "Stop Trading" segment Wednesday.
Cramer said he prefers Goldcorp (GG:NYSE - news - research - Cramer's Take), which is "cheaper and a better play."
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Goldcorp to Release Year End Results on March 6, 2006 I think it has one more bump before levelng off. Good news is almost a given on the 6th. A % rise is anybody's guess. 6 to 8% higher? Plus another dividend.
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Better wake up early to beat all the gold bugs!
Goldcorp reports record profits, sees output rising Sun Mar 5, 2006pm ET Company News: Goldcorp reports record profits, sees output rising
TORONTO, March 5 (Reuters) - Canada's Goldcorp Inc (G.TO: Quote, Profile, Research), poised for big growth as it buys up assets from a gold sector takeover, on Sunday reported record earnings in the fourth quarter, and said gold production would leap to 2 million ounces in 2006.
The company, based in Vancouver, said it earned $101.7 million, or 27 cents a diluted share, in the fourth quarter, up from $14.9 million, or 8 cents a share in the fourth quarter of 2004.
Profits rose to $285.7 million, or 83 cents a diluted share for 2005, from $51.3 million, or 27 cents a share, in 2004.
Gold production rose to 1.14 million ounces in 2005, at a cash cost of $22 an ounce, from 628,000 ounces in 2004, and would reach 2 million ounces at a total cash cost of less than $150 per ounce in 2006, the company said.
In deals worth some $2 billion, Goldcorp will this year acquire assets from Placer Dome Inc (PDG.TO: Quote, Profile, Research) for $1.49 billion as part of Barrick Gold (ABX.TO: Quote, Profile, Research)'s takeover of Placer, expected to close in April. It is also acquiring a Quebec property from Virginia Gold Mines (VIA.TO: Quote, Profile, Research) for $445 million.
"With the expected acquisition of Placer's assets combined with organic growth, Goldcorp will remain the fastest growing, lowest cost multimillion ounce gold producer, with production expected to double from 2005 to 2007," Chief Executive Ian Telfer said in a statement.
Goldcorp's growth in 2005 reflected its takeover of another rival, Wheaton River Minerals. The new deals will make it the third-largest gold producer in North America and the sixth largest in the world.
Goldcorp said it had proven and probable gold reserves of 14.7 million ounces at the end of 2005, up nearly three-fold from 2004.
On a pro forma basis, including the Placer assets, proven and probable gold reserves were 25.3 million ounces, it said.
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Updated:2006-03-13 14:54:57 Goldcorp Declares Third Monthly Dividend Payment for 2006 BUSINESS WIRE --(BUSINESS WIRE)----(All dollar amounts in United States dollars (US$)) - GOLDCORP INC. (TSX:G)(NYSE:GG) is pleased to declare its third monthly dividend payment for 2006 of $0.015 per share. Shareholders of record at the close of business on Friday, March 24, 2006 will be entitled to receive payment of this dividend on Friday, March 31, 2006.
Goldcorp is the world's lowest cost and fastest growing multimillion ounce gold producer. Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of less than $150 per ounce, and Goldcorp remains unhedged. 2007 gold production is forecast to reach almost 2.4 million ounces at a cash cost of less than $175 per ounce.
Updated:2006-04-06 17:07:18 Goldcorp to Release First Quarter Results May 15th-Shareholders Meeting April 19th Market Wire VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 04/06/06 -- Goldcorp Inc. (TSX:G)(NYSE: GG) will release first quarter results after market close on Monday, May 15th, 2006.
First Quarter Earnings Conference Call:
A conference call will be held Tuesday, May 16th at 11:00 a.m. (ET) to discuss these results. You may join the call by dialing toll free 1-877-888-3855 or (416) 695-6622 for calls from outside Canada and the US.
You can listen to a recorded playback of the call after the event until June 16th by dialing 1-888-509-0081 or (416) 695-5275. A live and archived audio webcast will also be available at www.goldcorp.com.
Annual and Special Meeting of Shareholders:
Goldcorp's Annual and Special Meeting of Shareholders will be held at 4:00 p.m. (ET) on Wednesday, April 19th in Room 206 at the Metro Toronto Convention Centre (225 Front St. West, Toronto).
Goldcorp is the world's lowest cost and fastest growing multimillion ounce gold producer. Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of less than $150 per ounce, and Goldcorp remains unhedged. 2007 gold production is forecast to reach almost 2.4 million ounces at a cash cost of less than $175 per ounce.
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Just to be fair in posting all opinions. This was from Street.com
Goldcorp (GG:NYSE - commentary - research - Cramer's Take) is in a strong uptrend -- it has doubled since it broke out above $15 in June. An uptrend like this is just begging to suck you in, moving higher and higher as you wait on the sidelines in frustration for an opportunity to buy on a pullback.
Despite the undying urge to buy now, I'd wait for a pullback toward support to define my risk. At present, Goldcorp could fall more than $5 without doing anything it hasn't done before -- trend between resistance and support
Updated:2006-04-10 13:32:09 Goldcorp Declares Fourth Monthly Dividend Payment for 2006 Market Wire VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 04/10/06 -- (All dollar amounts in United States dollars (US$)) -
GOLDCORP INC. (TSX:G)(NYSE: GG) is pleased to declare its fourth monthly dividend payment for 2006 of $0.015 per share. Shareholders of record at the close of business on Friday, April 21, 2006 will be entitled to receive payment of this dividend on Friday, April 28, 2006.
Goldcorp is the world's lowest cost and fastest growing multimillion ounce gold producer. Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of less than $150 per ounce, and Goldcorp remains unhedged. 2007 gold production is forecast to reach almost 2.4 million ounces at a cash cost of less than $175 per ounce.
Updated:2006-04-20 08:36:33 Goldcorp Completes Los Filos Feasibility Study Market Wire VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 04/20/06 -- Goldcorp Inc. (TSX:G)(NYSE: GG) is pleased to announce that the combined Los Filos and Bermejal feasibility study has been completed.
A feasibility study for the Los Filos deposit was originally completed in 2005. It has now been expanded to include the adjacent and subsequently acquired Bermejal deposit. The combined deposits will be referred to as the Los Filos Project going forward.
Project construction is well advanced and expected to be completed by the end of 2006 with commercial production planned to start in the second quarter of 2007. Commercial production for 2007 is expected to be 200,000 ounces of gold rising to 350,000 ounces in 2008. Approximately 70% of all project capital has been either spent or committed to date. The access road is completed, electrical power is energized, the water supply is 80% complete, and pit stripping is 35% complete with the ore leaching facilities 40% complete.
The mine reserves and resources total over 5 million ounces with 4.51 million ounces in proven and probable reserves.
The Los Filos and El Bermejal deposits will be developed as a twin open pit-heap leach operation, with two different methods of ore processing. Higher grade ore from within the Los Filos deposit will be crushed to 19mm and agglomerated before being conveyor stacked and heap leached. Lower grade ore from Los Filos and El Bermejal deposits will be hauled from the open pit directly to the leach pad to be bulk heap leached. The recovered solution will be treated to produce a final gold dorï¿1/2 product on site.
Extensive metallurgical testing has been completed indicating average recoveries of 72% with crush/leach ore and 59% for direct dumped ore. Over 37% or 1.05 million ounces of recovered gold will come from the crush/leach ore.
The project is locally well serviced with existing infrastructure, including paved highway, electric power and water source, all only 15 km from the mine site. The project is on a major highway route, 3 hours south of Mexico City. The project is also serviced by two nearby towns with a skilled mining labour force. Mining has always been an important part of the culture in the area for decades, and strong support for the Los Filos project has been received from the local communities and government agencies.
Exploration drilling is continuing on pit extensions and in particular higher grade ore areas. The skarn peripherals have returned encouraging drill intersections that can be economically serviced from underground and possibly open pit. The strategic aim of the project is to continue developing further ore volume and higher grade ore from Los Filos, El Bermejal, and the neighboring Nukay district that will justify a new conventional milling operation in parallel with the heap leaching operation.
Production and economic statistics for the Life of Mine are summarized as follows:
- LOM Ore Production 203 million tonnes - Crushing Plant Throughput 4 million tonnes/year - Run of Mine Leach Rate 20 million tonnes/year - Mining Strip Ratio 1.5 to 1 - Crush/Leach Ore Grade 1.50 grams gold/tonne - Run of Mine Leach Ore Grade 0.55 grams gold/tonne - Total Mine Grade 0.69 grams gold/tonne - Average Heap Leach Recoveries - Crush Leach 72% - Run of Mine Leach 59% - Average Annual Gold Production 315,000 ounces/year - Total Gold Production 2.84 million ounces - Capital Cost US$187 million - Pre-Production Capital US$45 million - Cash Operating Cost US$250/ounce of gold
A technical report relating to the feasibility study has been filed on www.sedar.com. The feasibility study comprises several studies prepared by Independent Mining Consultants ("IMC") (mineral reserves, mine planning, pit design, mine production schedule, waste dome design, mine capital and operating cost estimate), Snowden Mining Industry Consultants ("Snowden") (mineral resource estimate), SRK Consulting Engineer and Scientists (environmental studies and permit support), Golder Associates ("Golder") (heap leach pad and ponds, mine waste dumps, surface water diversion, access/haul road and pit slope design), McClelland Laboratories (metallurgical testing) and Kappes Cassiday and Associates ("Kappes Cassiday") (metallurgical testing, gold recovery and facility engineering).
P. John Barton, B.Sc. (Eng.), ARSM, MAus/MM of Snowden, Andrew F. Ross, M.Sc., P.Geo. of Snowden, Michael C. Hester, Mining Engineer, of IMC, Daniel W. Kappes, P.Eng., B.Sc., M.Sc. of Kappes Cassiday and John F. Lupo, Ph.D., P.E. of Golder are the independent qualified persons within the meaning of National Instrument 43-101, who prepared the technical report and have reviewed and approved the contents of this new release.
Updated:2006-05-08 14:15:44 Goldcorp Declares Fifth Monthly Dividend Payment for 2006 Market Wire VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 05/08/06 -- (All dollar amounts in United States dollars (US$))
GOLDCORP INC. (TSX:G)(NYSE: GG) is pleased to declare its fifth monthly dividend payment for 2006 of $0.015 per share. Shareholders of record at the close of business on Friday, May 19, 2006 will be entitled to receive payment of this dividend on Friday, May 26, 2006.
Goldcorp is the world's lowest cost multi-million ounce gold producer. Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of US$125 per ounce and the Company does not hedge its gold production.
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Goldcorp Inc.: Annual Earnings Increase 460% to $286 Million; Record Fourth Quarter Earnings of $102 Million
