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January 7, 2013
19:29 EDTGGGoldcorp sees 2013 gold production 2.55M-2.8M ounces, 10% increase YoY
Production is expected to build in 2H13 based on the ramp up at Pueblo Viejo and higher grades late in the year at Peñasquito. For 2013, the company estimates all-in sustaining cash costs of $1,000 to $1,100 per ounce compared to approximately $865 per ounce in 2012. Cash costs are forecast at between $525 to $575 per ounce on a by-product basis and between $700 to $750 per ounce on a co-product basis.
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August 27, 2015
08:05 EDTGGNew Gold to sell El Morro Interest to Goldcorp for $90M and 4% gold stream
New Gold (NGD) has entered into an agreement with Goldcorp (GG) to sell New Gold's 30% interest in the El Morro project to Goldcorp in exchange for $90M in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold's $93M carried funding loan. The $90M are to be paid at closing of the transaction, expected to be in Q4. The 4% stream is on life-of-project gold production from the 417 square kilometre El Morro property, with currently estimated gold mineral reserves of 599M tons at an average gold grade of 0.46 g/T, totalling 8.9M oz. New Gold will pay a fixed $400/oz. on the first 217K ounces of gold delivered as part of the stream. New Gold will no longer be obligated to repay the $93M in debt that Goldcorp funded on the company's behalf. Goldcorp and Teck Resources (TCK) plan to combine their respective El Morro and Relincho projects into a 50/50 joint venture with the interim name of Project Corridor. Goldcorp and Teck are expecting to commence a Pre-Feasibility Study in early 2016 which should be completed 12 to 18 months thereafter.
08:03 EDTGGGoldcorp, Teck Resources combine El Morro, Relincho projects in Chile
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