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Goldcorp (TSX:G,NYSE:GG) has announced its third quarter results for 2018.
Goldcorp (TSX:G,NYSE:GG) has announced its third quarter results for 2018.
Highlights are as follows:
Net loss was $101 million, or $0.12 per share.
Gold production of 503,000 ounces at all-in sustaining costs (AISC) of $999 per ounce, compared to 633,000 ounces at AISC of $827 per ounce for the three months ended September 30, 2017.
Significant project milestones reached in support of the company’s 20/20/20 growth plan and Beyond 20/20 program.
An additional $30 million of sustainable annual efficiencies identified, bringing the company closer to reaching its goal of achieving $350 million of sustainable annual efficiencies by the end of 2019.
Proven and probable gold mineral reserves are 52.8 million ounces.
David Garofalo, president and CEO, commented:
“Steady project execution in the third quarter during a transition period at our flagship Peñasquito mine continued a process of de-risking our 20/20/20 production growth and cost reduction plans. The commissioning of the PLP at Peñasquito, ongoing development of the Materials Handling system at Musselwhite and the near completion of the ramp up at both Cerro Negro and Éléonore are expected to lead to significantly improved gold production and costs in the fourth quarter of 2018.”