Mr. Chuck Jeannes reports
CERRO NEGRO ACHIEVES FIRST GOLD PRODUCTION
First gold production has been achieved at Goldcorp Inc.'s Cerro
Negro, a high-grade gold mine located in the Santa Cruz province of
Argentina.
"We are very pleased to have first production on schedule and within our
current capital-cost-guidance range from this world-class mine," said
Chuck Jeannes, Goldcorp president and chief executive officer. "Very
importantly, this achievement was reached safely, with Cerro Negro in
the midst of a run of over 4.1 million man-hours without a lost time
accident. This milestone signals not only the start of Cerro Negro's
mine life, but also a period of sustained growth for Goldcorp. The team
at Cerro Negro has done an outstanding job amid occasionally
challenging circumstances, and I congratulate them for this outstanding
effort. We look forward to strong contributions from Cerro Negro to
Goldcorp's overall performance for many years to come."
On July 25, the initial dore bar weighing approximately 100 kilograms
was poured at the mine, containing an estimated 317 ounces of gold.
Over all, progress at the mine remains on track for declaration of
commercial production by the end of the year. Production guidance for
2014 is expected to be between 130,000 ounces and 180,000 ounces of gold.
Initial capital costs have been reduced by $100-million and are now
expected to be between $1.6-billion and $1.7-billion.
We seek Safe Harbor.
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