2019 Annual Guidance
TORONTO – BUSINESS – GOLDCORP INC. (TSX: G,NYSE: GG) (“Goldcorp” or the “Company”) is providing a summary of fourth quarter 2018 milestones and 2019 annual guidance.
Fourth Quarter Milestones
- As previously disclosed, fourth quarter 2018 gold production of 630,000 ounces exceeded guidance. All-in sustaining costs for the full year are expected to be in line with guidance of $850 per ounce.
- Cerro Negro exited the year at 4,000 tonnes of ore per day, completing the ramp up of the mine to nameplate capacity.
- Éléonore exited the year at 6,600 tonnes of ore per day and produced an average of 35,000 ounces per month in the fourth quarter, in line with targeted annual gold production of 400,000 ounces.
- At Peñasquito the Pyrite Leach Project achieved commercial production. The project was completed under budget and ahead of schedule.
- At Porcupine, Borden has obtained all permits and is advancing towards commercial production in the second half of 2019. Borden will be the world’s first all electric mine and is expected to create 200 jobs in the Chapleau, Ontario area.
Detailed 2019 Guidance
While gold grades in the first quarter of 2019 are expected to be lower at Cerro Negro, Éléonore and Red Lake, due to mine sequencing, gold production in 2019 is expected to increase progressively each quarter as the Musselwhite Materials Handling and Borden projects are expected to achieve commercial production in the second half of the year. In addition, grades and recoveries are expected to steadily climb at Peñasquito as the mine benefits from the completion of the multi-year waste stripping campaign in the main Peñasco pit and a full year of operation at the now fully commissioned pyrite leach plant.
Further to the press release dated, January 14, 2019, entitled Newmont and Goldcorp Combine to Create World’s Leading Gold Company, subsequent to the expected closing in the second quarter of 2019, Newmont Goldcorp will provide updated guidance for the combined company.
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Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.