In my article calling for investors to begin accumulating Goldcorp shares, I covered some production targets. I discussed that the company could come in at the low end of guidance due to issues in Mexico. Reduced production was easily attributed to the closure of El Sauzal in Mexico and the divestiture of Marigold mine. Even with the losses, Mexican output alone was expected to be over 1 million ounces for 2014, surpassing total production of many smaller miners' annual production as a whole. Further, the company had first production from Eleonore mine in late summer, helping bump up the production tallies.
All in all, I was looking for production of 2.9 million gold ounces or more in 2014, which was slightly beyond the lower end of the company's guidance. Further, I expected all-in sustaining costs to decline because the company expected them to be around $950 to $1,000 per gold ounce, which was much less than 2013's costs.
So how did.....READ MORE
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