OREANDA-NEWS. August 12, 2014. GOLDCORP INC. (TSX: G, NYSE: GG reported adjusted quarterly revenues of USD 1.1 billion, generating adjusted net earnings of USD164 million, or USD 0.20 per share, compared to USD 117 million, or USD 0.14 per share, in the second quarter of 2013. 

Reported net earnings attributable to shareholders of Goldcorp were USD 181 million, or USD 0.22 per share, compared to USD (1,934) million, or USD (2.38) per share, in the second quarter of 2013.  Adjusted operating cash flow was USD 376 million compared to USD 388 million for the second quarter of 2013. 

The Company also announced the on-schedule commencement of production at the Cerro Negro mine in Argentina, including the first gold pour on July 25, 2014.

Second Quarter 2014 Highlights

Gold sales of 639,500 ounces on gold production of 648,700 ounces.

Adjusted revenues of USD 1.1 billion.

All-in sustaining costs of USD 852 per ounce.

Adjusted net earnings of USD 164 million, or USD 0.20 per share.

Adjusted operating cash flow of USD 376 million.

Dividends paid of \\$122 million.

Completed sale of Marigold mine on April 4, 2014 for USD 184 million (Goldcorp's share).

Issued USD 1.0 billion of senior unsecured notes.

"Continued solid production and cost performance across the portfolio contributed to strong financial results in the second quarter," said Chuck Jeannes, Goldcorp President and Chief Executive Officer. "Cost improvements realized through our Operating for Excellence efficiency program were particularly impressive at Penasquito.  Those savings, along with grades and recoveries contributed to earnings from Penasquito mine operations of approximately USD 130 million in the quarter.  In addition, the three new gold projects under construction that underpin Goldcorp's leading growth profile continued to advance steadily. We were very pleased to announce last week the commencement of gold production at Cerro Negro on schedule and within our capital cost guidance. I congratulate the team at Cerro Negro for this outstanding performance and look forward to strong production and financial results over a long mine life from this important new mine. This achievement signals the start of a prolonged period of increased production, decreasing costs and reduced capital spending for Goldcorp, resulting in significant expected free cash flow generation in 2015 and beyond."