Chuck Jeannes, President/CEO of Goldcorp, Inc. (GG), said the company is looking to several new projects to continue its focus on gold in low-risk jurisdictions. Jeannes was speaking at the Denver Gold Forum in Denver, Colorado.
Goldcorp Inc. has operations in Canada, the United States, Mexico, Central America and South America. The company has $2.4B US in liquidity, with its cash flow allocation priorities to fund existing and organic growth, offer flexibility for mergers/acquisitions, plus provide regular dividend growth.
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Goldcorp’s Cerro Negro Mine in Argentina was called a “strong new contributor to growth” by Jeannes. First commercial production is expected in Q4 of 2014. In Mexico, the Camino Rojo Project is expected to commence a pre-feasibility study by year-end, with completion expected in Q1 of 2016.
Among established properties, the Penasquito Mine in Mexico, the largest gold mine in that country, will produce 297,200 ozs in H1 2014A, heading toward a 2014E of 530,000-560,000, Jeannes said. Goldcorp is also in pre-feasibility studies advancing on CEP and pyrite leach projects, with mine operating earnings of $131M in Q2 2014, Jeannes said.
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