Goldcorp Presses Forward, Increases Commercial Production amidst Mixed Forecasts

    Goldcorp Presses Forward, Increases Commercial Production amidst Mixed

PR Newswire

NEW YORK, January 22, 2013

NEW YORK, January 22, 2013 /PRNewswire/ --

Goldcorp has announced a new commercial production at Pueblo Viejo mine in the
Dominican Republic. Pueblo Viejo is a joint venture between Goldcorp and
Barrick Gold Corporation, a venture that the company states will add a strong
contribution to its portfolio.

In a joint venture with Barrick Gold on its Pueblo Viejo mine in the Dominican
Republic, Goldcorp Inc.'s (NYSE: GG) [Full Research Report]^(1) forecast share
of the gold produced from Pueblo Viejo in 2013 is between 330,000 and 435,000

This announcement follows the release of Goldcorp's production forecast for
the fourth quarter of 2012. The company had a strong fourth quarter, with gold
production totaling 696,700 ounces. The company's dividend also increased 11%
to $0.70 per share. Goldcorp is scheduled to release its actual 2012 fourth
quarter results on February 14.

Goldcorp President and CEO Chuck Jeannes commented on the new project, "Pueblo
Viejo represents the first leg of new gold growth as a result of our
multi-year investment in new growth projects… our five-year gold production
profile builds steadily over the next several years, culminating in forecast
gold production growth of approximately 70% by 2017."

Despite Goldcorp's promising portfolio, investing in gold is still a tricky
issue for analysts. With the exception of Goldcorp, the industry has seen
dismal performance in the last quarter of 2012. The future is not bleak
however, as forecasts rolling into 2013 call for higher annual gold prices,
even while forecasters are toning down their bullish stance. Morgan Stanley
estimates that the average price of gold in 2013 will be $1,853.

However, there are still those who are expecting little from gold in 2013.
HSBC lowered its average price from $1,850 to $1,760. CPM Group only had a
prediction of $1,666.

Ross Norman, regarded as the most accurate London gold price forecaster
throughout the 12-year bull run of gold comments, "People seem to be
universally bullish but the price isn't moving. To us that's an indicator that
the market may be topping out. I don't think we'll see gold lower, but I think
we may have to get used to a single-digit growth rate."

Mixed forecasts aside, Goldcorp remains as a strong company. Goldcorp has
experienced significant growth over the years, as well as a steady cash flow.
Furthermore, due to the new Pueblo Viejo venture, the company is also expected
to generate greater revenue moving forward.

Bottom line, gold prices will remain volatile and subject to influences from
central bank policy, government fiscal policy, growth rates, and economic
confidence. To maintain its present standing, Goldcorp must continue to prove
that it can execute its operations efficiently and deliver for its investors
despite challenging macroeconomic conditions.

Reference Links:

^(1) ^ The Full Research Report on Goldcorp Inc. - including full detailed
breakdown, analyst ratings and price targets - is available to download free
of charge at:

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