http://finance.yahoo.com/marketupdate/inplay#gg8:14AM Goldcorp beats by $0.07, beats on revs (GG) 41.05 : Reports Q3 (Sep) earnings of $0.54 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.47; revenues rose 17.6% year/year to $1.54 bln vs the $1.39 bln consensus. "Goldcorp's pipeline of high quality gold projects comprises the leading growth profile in the sector, and we are pleased that the first of those new growth projects, Pueblo Viejo in the Dominican Republic, achieved first gold production during the third quarter. In Argentina, the Cerro Negro project is advancing steadily towards first gold production in late 2013. All major mechanical equipment to be imported is now at the site or in-country, and development of the first three veins is progressing well."
Guidance: The Company today reconfirmed guidance for 2012 of between 2.35 - 2.45 million ounces at total cash costs of between $310 to $340 per ounce of gold on a by-product basis and $625 and $650 per ounce on a co-product basis. In conjunction with the Company's annual planning and budgeting process, and in view of industry-wide capital cost escalation, the Company is currently updating capital cost estimates for its projects and will provide updated cost information early in 2013.
https://www.zerohedge.com/news/2019...billion-deal-create-worlds-largest-gold-minerIn the latest deal in what's becoming a wave of consolidation among gold miners, Newmont Mining announced on Monday that it would buy smaller miner Gold Corp in a deal valued at $10 billion.
The deal could create the largest gold miner in the world, with operations stretching from the Americas, to Australia and Ghana, the companies said. Newmont will offer 0.3280 of its share and two cents for each share of its Canadian rival, according to CNBC. The deal is the largest in the space since Randgold and Barrick announced their plans to merge back in September.
As the Wall Street Journal pointed out, the depletion of global gold mines and the resulting increase in extraction costs has pushed gold miners to seek cost efficiencies and smaller-scale combinations.