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Written by Wolf Stone
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Tuesday, 15 May 2007 |
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Goldcorp reported net earnings of $125 million ($0.18 per share) in Q1, up from $92 million earned in Q1/06. Stripping out the non cash items for Q1/07 Goldcorp earned $0.12 per share with operating cash flow hitting $0.26 per share. Their revenues were boosted to $506 million from $286 million a year ago mainly due to the amalgamation of the now combined entity of Glamis Gold & Goldcorp and some assets Goldcorp acquired from Placer Dome and the increased combined production. For the first quarter of 2007 Goldcorp reported 558,000 ounces of gold production compared to the 295,000 they produced in Q1/06.
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Written by Wolf Stone
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Friday, 04 May 2007 |
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For Q1/07 Barrick Gold (NYSE: ABX) reported a net loss of $159 million or $0.18 per share. The loss is due, however, to a large one-time adjustement. The adjusted earnings, after taking into account the cost of eliminating contracts (hedges) on approximately 2.0 million ounces of gold, were $398 million ($0.45 per share) and adjusted cash flow were $727 million ($0.83 per share). Barrick Gold Corporation reported first quarter production of 2.03 million ounces of gold at total cash costs of $313 per ounce compared to 1.96 million ounces produced at total cash costs of $285 per ounce for the prior-year period.
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