VANCOUVER – The anticipated 2008 gold production average cost for all of GOLDCORP’s operations will be US$250/oz, up from slightly more than $150/oz in 2007. The company says the greatest increase, US$35/oz will be due its lowered forecast byproduct copper price (US$3/lb). An increase of US$30/oz will be attributable to the swap of the Porcupine joint venture assets, and another jump of US$20/oz will come from costs associated with the first full year of production at the Los Filos mine in Mexico.
Goldcorp says its total 2007 production will be over 2.2 million oz, and that will rise to 2.6 million oz in 2008.
The graph at www.CCNMatthews.com/docs/goldgr1.jpg provides a quarterly breakdown of gold production and total cash costs expected in 2008.