TORONTO, Ontario Owning the world’s richest gold mine doesn’t automatically make GOLDCORP the most profitable producer, but it certainly doesn’t hurt. The company announced today that earnings for the quarter ended Sept. 30 increased by 30% (compared to the same quarter in 2002) to US$24.6 million or US$0.13/share.
And the news just keeps getting better. Earnings for the first three-quarters of this year were up 19% over a year earlier to US$0.31/share. Shareholders’ equity increased 29% or US$102.4 million so far in 2003 compared with the end of last year. The realized gold price was US$364/oz, compared with $315/oz during the third quarter of 2002. Goldcorp is increasing its total annual dividend payment by 20% to US$0.18 and will increase the frequency of payments to 12 times per year.
Learn more about the rich Red Lake gold mine at www.goldcorp.com.