Friday, March 12, 2010

Goldcorp (TSE:G) Growth in Chili, Canada

Goldcorp Production Goal and Growth Areas

Goldcorp (TSE:G) is looking to its recently acquired El Morro project and the Eleonore project in Quebec, Canada as the major sources of growth in the company by 2015, according to CEO Chuck Jeannes.

It isn't certain for Goldcorp whether they're retain control of El Morro, a major question for them going forward, as Barrick Gold (TSE:ABX) is contending the deal in hopes of gaining control of the El Morrow project.

The Eleonore project is a good one for Goldcorp for sure, as the production costs are about $400 an ounce. That doesn't include byproducts of $450 an ounce.

Jeannes has recently stated they have a goal of growing gold production through about 2015, and then probably leveling it off, based on other companies who have reached certain production levels and then have trouble growing from there.

Production goals on an annual basis are to reach around 3.8 million ounces a year.

Goldcorp Production Goal and Growth Areas

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