VANCOUVER –
Goldcorp expects to produce more silver, zinc, lead and gold equivalent ounces in 2019 compared to 2018.
The company, which is currently merging with
Newmont, produced 630,000 oz. of gold in 2018’s fourth quarter at $850 per oz. all-in sustaining costs (AISC). In 2018, it produced 2.29 million oz. of gold, and expects to produce a similar amount of gold in 2019.
The company expects silver production to increase from 25 million oz. in 2018 to between 40 million and 50 million oz. in 2019; it expects zinc production to increase from 318 million lb. in 2018 to between 390 million and 450 million lb. in 2019; it expects lead production to increase from 116 million lb. 2018 to between 240 million and 290 million lb. in 2019; and it expects gold equivalent production to jump from 3 million oz. in 2018 to between 3.3 million and 3.7 million oz. in 2019.
The company expects lower gold grades Q1 2019 at its Cerro Negro, Eleonore and Red Lake gold mines, but says gold production should increase progressively each quarter as its Musselwhite materials handling and Borden projects reach commercial production in the second half of 2019.
Borden is slated to be the world’s first all-electric gold mine, while the materials handling program at the Musselwhite gold mine should make moving ore to the mill more efficient.
The company predicts $750 to $850 per oz. gold AISC in 2019. The company has not yet released its 2018 full year financials, but previously said it expects 2018 full year AISC to be at $850 per oz. of gold. It says it will announce its full year financials on Feb. 13, 2019.
The company expects the Newmont merger to close in the second quarter of 2019 second quarter. The new entity will then provide updated guidance for the combined company.
Shares of Goldcorp are currently trading at $14.46 with a 52-week range of $11 to $18.78. The company has a $12.5 billion market capitalization.
This story first appeared on www.NorthernMiner.com.
Comments