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Message: GoldCorp, Interview with the CEO... (Red Lake and Beyond...)

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GoldCorp, Interview with the CEO... (Red Lake and Beyond...)

posted on Nov 07, 09 12:38AM

Found this article about our relatively close neighbor very interesting...

http://www.theglobeandmail.com/globe-investor/goldcorp-outlook-has-never-been-brighter-ceo/article1352737/

Interesting comments, points etc…

Ø “No other company can claim our combination of growth, low costs, financial strength and political stability.”

Ø Selling more gold at higher prices helped boost revenue by 25 per cent in the latest quarter

Ø Goldcorp's goal is to grow by 50 per cent within five years, most of it coming from the Penasquito mine in Mexico (not Canada~!)

Ø Goldcorp increased its 2009 production guidance to 2.4 million ounces, up from earlier guidance of 2.3 million ounces (though overall profits are lower – .16 cents/share this last quarter compared to .42 last year). This was from 621,000 ounces this past quarter versus 557,400 last year.

Ø Total cash costs for 2009 are expected to be about $300 per ounce of gold on a by-product basis compared with earlier guidance of $365 per ounce.

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