|
|
Goldcorp acquired the Porcupine gold mines from Placer Dome in May 2006 and in September 2007, Goldcorp entered into a binding agreement with Kinross Gold Corporation to acquire Kinross' 49% share of the Porcupine gold mines. Porcupine is now 100% owned and operated by Goldcorp. The operation consists of three operating gold mines and a central milling facility within the city of Timmins in northeastern Ontario. The properties have produced more than 16 million ounces of gold since production began in 1910 and include North America’s longest continually operating gold mine. The operating properties, combined with extensive and highly prospective land holdings, are strategically located in one of the world’s great gold producing camps.
In 2007, Goldcorp's share (51%) of gold production amounted to 158,400 ounces which was 3% lower than 2006 due primarily to lower ore tonnage related to increased stripping requirements combined with lower grade at the Parmour open pit. At December 31, 2006, proven and probable gold reserves at Porcupine were 3.49 million ounces. |
DRILL HOLE DATA
 Hollinger Assay
Hoyle Pond Assay
OPERATING STATISTICS
|
Porcupine |
2004 (actual)* |
2005 (actual)* |
2006 (actual)* |
2007 (actual)** |
| Ore milled Tonnes(000’s) |
2,038 |
2,176 |
2,151 |
2,057 |
| Milled grade Au g/t |
3.35 |
2.87 |
2.55 |
2.47 |
| Total Recovery Au % |
91.9 |
92.6 |
93 |
94 |
| Total Production Au oz |
201,710 |
190,921 |
162,700 |
158,400 |
| Total Cash Cost US$/oz |
236 |
284 |
370 |
|
* Operating statistics for 2004,2005, 2006 represent 51% ownership of Porcupine.
**On December 21, 2007, Goldcorp acquired Kinross Gold Corporation’s 49% interest in the Porcupine gold mine, and, as a result, the table above reflects Goldcorp’s 100% ownership from December 21, 2007
|
