VANCOUVER, Oct. 26, 2016 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) today reported its third quarter 2016 results.
Third Quarter 2016 Highlights
- Net earnings attributable to shareholders of Goldcorp for the third quarter were $59 million, or $0.07 per share, compared to a net loss of $192 million, or loss of $0.23 per share in 2015. Net earnings were negatively affected by $0.04 per share of non-cash or other items that the Company believes are not reflective of the performance of the underlying operations.
- Third quarter operating cash flows of $267 million and adjusted operating cash flows(1,2) of $341 million,of which $226 million(3) was used to repay debt, $56 million was used to fund the growth pipeline and $14 millionwas paid in dividends. Available liquidity at September 30, 2016 stood at $3.4 billion.
- Gold production(1) of 715,000 ounces at all-in sustaining costs(1)(5) (“AISC”) of $812 per ounce, compared to 922,000 ounces at AISC of $858 per ounce in 2015. 2016 guidance reconfirmed for gold production of between 2.8 and 3.1 million ounces at AISC of between $850 and $925 per ounce. The lower AISC reflects the Company’s focus on cost reductions and the positive effects of the strengthening US dollar. The decrease was partially offset by lower production due to planned lower grades at Peñasquito and the exhaustion of surface stockpiles at Cerro Negro and Éléonore.