Edition:
India

Goldcorp Q2 loss per share $0.09


Wednesday, 27 Jul 2016 

Goldcorp Inc : Says 2016 guidance reconfirmed for gold production of between 2.8 and 3.1 million ounces, at AISC of between $850 and $925 per ounce . "mine general managers will have much greater accountability for growing net asset value of their individual businesses," going foward . Says workforce reductions and other improvement initiatives are underway at cerro negro . Qtrly gold production of 613,400 ounces compared to 908,000 in 2015 . Says workforce reductions at Cerro Negro are expected to deliver approximately $65 million of annual efficiencies . Qtrly silver produced 5.3 million ounces versus 10.4 million ounces . In q2,began implementing company-wide program to optimize all areas of business, deliver $250 million in sustainable annual efficiencies by 2018 . Qtrly total revenues $921 million versus $1317 million . Productivity was negatively affected by a large workforce reduction as part of restructuring process that commenced during q2 . Says is on schedule to achieve its $250 million efficiency target by 2018 . Goldcorp reports second quarter 2016 results; expansions approved at Peñasquito and Musselwhite . Q2 loss per share $0.09 . Q2 earnings per share view $0.02 -- Thomson Reuters I/B/E/S . Q2 2016 earnings were negatively impacted by lower production, partially offset by an increase in realized gold price.