Goldcorp Slips To Loss In Q2

Goldcorp Inc. (GG,G.TO) reported that its second-quarter net loss was $131 million, or $0.15 per share, compared to net income of $135 million or $0.16 per share in the prior year. The latest-quarter was impacted by non-cash foreign exchange losses of $178 million, or $0.20 per share, primarily arising on deferred tax balances.

Gold production was 571,000 ounces at all-in sustaining costs or “AISC” of $850per ounce, compared to635,000 ounces at AISC of$800per ounce for the three months ended June 30,2017.

“With the ongoing successful ramp up of the Éléonore and Cerro Negro mines, on plan gold production across the portfolio and our pipeline of growth projects being advanced on budget and on schedule, we continue to execute on the delivery of our 20/20/20 plan of growing production and reducing AISC by 20% by 2021,” said David Garofalo, President and Chief Executive Officer of Goldcorp.

by RTTNews Staff Writer

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