6 May 2013dividend declaration● Neutral
Goldcorp declared its fifth monthly dividend of 2013, US$0.05 per share, for holders of record May 16, 2013, payable May 24, 2013. The rate is unchanged.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Apr 2013dividend declaration● Neutral
Goldcorp declared its fourth monthly dividend of 2013, US$0.05 per share, for holders of record April 18, 2013, payable April 26, 2013. The rate is unchanged from the earlier 2013 payments.
14 Mar 2013debt financing● NeutralMajor
Goldcorp priced a US$1.5 billion sale of senior unsecured notes: US$0.5 billion at 2.125% due March 15, 2018 and US$1.0 billion at 3.70% due March 15, 2023, expected to close March 20, 2013. Net proceeds of about US$1.48 billion are meant for repaying the US$862.5 million convertible notes due August 2014, capital expenditures, capital investments or working capital. This is the first use of the repayment route for the 2009 convertible notes; the filing does not say how much goes to each purpose.
4 Mar 2013dividend declaration● Neutral
Goldcorp declared its third monthly dividend of 2013, US$0.05 per share, for holders of record March 14, 2013, payable March 22, 2013. The rate is unchanged from the January and February payments.
4 Mar 2013resource reserve update● Neutral
Goldcorp filed a technical report for its 100%-owned Los Filos mine in Mexico. The release says there are no material differences between the reserve and resource estimates in the report and those in its February 14, 2013 news release; no figures are given in this filing.
4 Feb 2013dividend declaration● Neutral
Goldcorp declared its second monthly dividend of 2013, US$0.05 per share, for holders of record February 14, 2013, payable February 22, 2013. The rate is unchanged from the January payment, which was the increased level.
15 Jan 2013production update▲ GoodMajor
Barrick, the operator, declared commercial production at Pueblo Viejo in the Dominican Republic, the 60/40 Barrick/Goldcorp joint venture. This follows the May 2011 tailings-damage delay to start-up. Goldcorp forecasts its 40% share of 2013 gold production at 330,000 to 435,000 ounces, and 415,000 to 450,000 ounces a year over the first full five years. No capex or cost figures are given.
8 Jan 2013dividend declaration▲ GoodMajor
Goldcorp raised its annual dividend by 11% and declared its first 2013 monthly dividend of US$0.05 per share, for holders of record January 17, 2013, payable January 25, 2013. This lifts the monthly payment from the US$0.045 paid throughout 2012; the release says the dividend is up 233% since 2009.
3 Dec 2012dividend declaration● Neutral
Goldcorp declared its twelfth monthly dividend of 2012, US$0.045 per share, for holders of record December 13, 2012, payable December 21, 2012. This completes a full year of payments at the higher rate set in December 2011.
5 Nov 2012dividend declaration● Neutral
Goldcorp declared its eleventh monthly dividend of 2012, US$0.045 per share, for holders of record November 15, 2012, payable November 23, 2012. The rate is unchanged.
11 Oct 2012asset acquisition disposition● Neutral
Goldcorp completed a secondary offering of 8,422,460 Primero Mining shares at C$5.25 each, for gross proceeds of C$44,217,915. Primero is the company that bought San Dimas from Goldcorp in 2010 and in which Goldcorp held about 35.5% as of July 2011. The filing does not say how many Primero shares Goldcorp still holds afterward, nor does it mention the Northgate arrangement or the Primero notes.
1 Oct 2012dividend declaration● Neutral
Goldcorp declared its tenth monthly dividend of 2012, US$0.045 per share, for holders of record October 12, 2012, payable October 22, 2012. The rate is unchanged.
4 Sept 2012dividend declaration● Neutral
Goldcorp declared its ninth monthly dividend of 2012, US$0.045 per share, for holders of record September 14, 2012, payable September 21, 2012. The rate is unchanged.
7 Aug 2012dividend declaration● Neutral
Goldcorp declared its eighth monthly dividend of 2012, US$0.045 per share, for holders of record August 17, 2012, payable August 27, 2012. The rate is unchanged.
9 July 2012dividend declaration● Neutral
Goldcorp declared its seventh monthly dividend of 2012, US$0.045 per share, for holders of record July 19, 2012, payable July 27, 2012. The rate is unchanged.
4 June 2012dividend declaration● Neutral
Goldcorp declared its sixth monthly dividend of 2012, US$0.045 per share, for holders of record June 14, 2012, payable June 22, 2012. The rate is unchanged.
7 May 2012dividend declaration● Neutral
Goldcorp declared its fifth monthly dividend of 2012, US$0.045 per share, for holders of record May 17, 2012, payable May 25, 2012. The rate is unchanged.
30 Apr 2012regulatory community update▼ BadMajor
On April 27, 2012 the Supreme Court of Chile suspended the March 2011 environmental permit for El Morro (70% Goldcorp, 30% New Gold) until the environmental regulator (SEA) corrects deficiencies the Antofagasta appeals court identified. This follows the February 2012 appeals ruling, which Goldcorp had said would not stop development unless confirmed; it has now taken effect as a suspension. El Morro immediately halted all field work under the permit, while detailed engineering and design continue. The filing says the actions and time needed cannot be determined until the SEA says how it will proceed, and it expects further consultation with the farming community that requested the review. No cost or schedule figures are given.
2 Apr 2012dividend declaration● Neutral
Goldcorp declared its fourth monthly dividend of 2012, US$0.045 per share, for holders of record April 13, 2012, payable April 20, 2012. The rate is unchanged from the higher level set in December 2011.
2 Apr 2012resource reserve update● NeutralMajor
Goldcorp furnished an independent technical report (dated March 16, 2012, by Roscoe Postle Associates) on Pueblo Viejo, the Dominican Republic project owned 60% by Barrick and 40% by Goldcorp, supporting reserve and resource figures as of December 31, 2011. The visible text describes a 24,000 tonne-per-day operation with two open pits (Moore and Monte Negro) and an 18-year mine life; the reserve, resource, capital cost and schedule figures are in the truncated part and are not stated here, so this does not show whether the 2011 tailings-damage start-up and capex concerns are resolved.
12 Mar 2012regulatory community update▼ BadMajor
Goldcorp disclosed that an appeals court in Antofagasta, Chile ruled on February 16, 2012 in favour of a local farming community challenging the March 2011 environmental approval for El Morro, the Chilean copper-gold project Goldcorp operates and has held 70% of since February 2010. The ruling has no effect unless the Chilean Supreme Court confirms it; the Chilean regulator and the El Morro company have both appealed, and the company says it will keep developing the project until an order declares the approval void. Goldcorp says the ruling is unrelated to the Ontario litigation between Barrick, Xstrata Copper Chile, Datawave Sciences (New Gold entities) and Goldcorp, which this filing names for the first time in the context seen. It also refers to a February 15, 2012 press release on El Morro that is not seen here.
5 Mar 2012dividend declaration● Neutral
Goldcorp declared its third monthly dividend of 2012, US$0.045 per share, for holders of record March 15, 2012, payable March 23, 2012. The rate is unchanged.
6 Feb 2012dividend declaration● Neutral
Goldcorp declared its second monthly dividend of 2012, US$0.045 per share, for holders of record February 16, 2012, payable February 24, 2012. The rate is unchanged from January.
9 Jan 2012dividend declaration● Neutral
Goldcorp declared its first monthly dividend of 2012, US$0.045 per share, for holders of record January 19, 2012, payable January 27, 2012. This continues the higher rate set in December 2011.
16 Dec 2011regulatory community update▲ GoodMajor
Santa Cruz provincial authorities approved the amended Environmental Impact Assessment for Cerro Negro, the Argentine project gained with Andean in December 2010. This resolves the permit step flagged in April 2011 and allows a plant increased from 1,850 to 4,000 tonnes per day and mining of three vein deposits (Eureka, Mariana Central, Mariana Norte). Goldcorp says full construction will advance immediately and Mariana Central and Norte development will now start; it cites roughly 550,000 oz/yr over the first five full years and gold production beginning in 2013.
6 Dec 2011dividend declaration▲ Good
Goldcorp declared its twelfth monthly dividend of 2011, US$0.045 per share, for holders of record December 16, 2011, payable December 23, 2011. This is the first payment at the higher rate announced the same day, up from US$0.034 in earlier months.
5 Dec 2011dividend declaration▲ GoodMajor
Goldcorp's board raised the annual dividend 32% to US$0.54 per share, effective immediately, so the monthly payment to holders of record December 16, 2011 becomes US$0.045 (up from US$0.034). The company calls it the third dividend increase in 13 months, continuing the October 2010 doubling and the February 2011 increase.
25 Nov 2011debt financing▲ GoodMajor
Goldcorp signed a new US$2.0 billion unsecured, floating-rate credit facility with a syndicate of 15 lenders, replacing its existing US$1.5 billion facility. Amounts drawn must be financed or repaid by November 23, 2016, and the stated uses are growth opportunities and general corporate purposes. The filing does not say how much, if any, is drawn.
7 Nov 2011dividend declaration● Neutral
Goldcorp declared its eleventh monthly dividend of 2011, US$0.034 per share, for holders of record November 17, 2011, payable November 25, 2011. The rate is unchanged from earlier in 2011.
3 Oct 2011dividend declaration● Neutral
Goldcorp declared its tenth monthly dividend of 2011, US$0.034 per share, for holders of record October 13, 2011, payable October 21, 2011. The rate is unchanged.