🕐04.05.11 - 23:27 Uhr
GOLDCORP EARNINGS MORE THAN DOUBLE IN THE FIRST QUARTER
Toronto Stock Exchange: G
New York Stock Exchange: GG
GOLDCORP EARNINGS MORE THAN DOUBLE IN THE FIRST QUARTER
VANCOUVER, BRITISH COLUMBIA, May 4, 2011 GOLDCORP INC.
(TSX: G, NYSE: GG) today reported operating cash flows of $586 million for the first quarter of 2011 based on gold production of 637,600 ounces at a total cash cost1 of $188 per ounce.
Reported net earnings from continuing operations in the quarter were $651 million compared to $232 million in the first quarter of 2010.Adjusted net earnings from continuing operations2 were $397 million, or $0.50 per share, compared to $159 million, or $0.22 per share, in the first quarter of 2010.
First Quarter 2011 Highlights
Revenues increased 69% over the 2010 first quarter, to $1.2 billion, on gold sales of 627,300 ounces.
Operating cash flow increased 108% over the 2010 first quarter, to $586 million or $0.73 per share.
Adjusted net earnings increased 150% over the 2010 first quarter, to $397 million or $0.50 per share.
Average realized gold price increased 26% over the 2010 first quarter, to $1,394 per ounce.
Gold and silver sales account for 86% of first quarter revenues.
Cash costs totaled $188 per ounce on a by-product basis and $504 per ounce on a co-product basis.
After investment of $352 million capital in growth projects and existing mines, free cash flow3 totaled $234 million for the quarter.
Dividends paid amounted to $75 million.
Quarter end cash balance of $1.3 billion; net cash position of $575 million.
Cerro Negro feasibility study update enhances gold production growth profile.
Positive study results at lonore and Cochenour projects advance development of next generation Canadian growth projects.
To read the complete news release, please see our web site at http://goldcorp.com/_resources/news_releases/Q1_2011_Earnings_FINAL_with_Financials.pdf
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