By: Marilyn Scales
Although CMJ does not routinely report quarterly earnings, the numbers posted last week by Vancouver's GOLDCORP cannot be ignored. Any company that is making US$545 profit per ounce of gold produced, is doing lots of things right.
For the Q3 2007 alone, gold production rose 28% to 556,000 oz of gold and sales were 537,200 oz. The average price received for an ounce of gold was US$685, but the total cash costs, net of byproduct credits, was only US$150/oz. Shareholders enjoyed dividends totalling $31.7 million over the three-month period.
