Goldcorp Inc. (TSX:G; NYSE:GG) this morning announced record third-quarter revenues of US$1.5 billion and posted net earnings of US$498 million, compared with US$336 million in 2011's third quarter.
Chuck Jeannes, Goldcorp president and CEO, said operating improvements at the company's Red Lake and Peñasquito mines contributed to the company's "strong" third-quarter results.
Jeannes said the company's Pueblo Viejo project in the Dominican Republic achieved its first gold production during the third quarter, and stated that the company's Cerro Negro project in Argentina "is advancing steadily towards first gold production in 2013."
He said that two other projects, Eléonore and Cochenour, remain on track for first gold production in late 2014.
"The low capital cost per ounce of new gold production for these four new projects creates the opportunity for very strong financial returns for our shareholders," he said.
The company also reported total gold production of 592,500 ounces and gold sales of 617,800 ounces, compared with production of 592,100 ounces a year ago and sales of 571,500 ounces.
As of press time, company stock was up approximately 5%.
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