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Tuesday, 27th February 2007 (3307 views)

Investors and analysts were told during a presentation yesterday that Goldcorp is set to focus its attentions primarily on the Los Filos gold mine in Mexico.

Specifically, GoldCorp will prioritise the start-up of the Los Filos property in the forthcoming months and construction is predicted to be completed at the site during the current quarter.

According to Goldcorp's president and CEO Kevin McArthur, the forecast for gold production during this year is 2.6 million ounces and the company also estimates it will see production growth of 57 per cent over the next five years.

During the presentation to the financial services provider BMO Capital Markets 2007 Global Resources Conference, which took place in Florida, Mr McArthur also said that Goldcorp is set to invest in "organic growth" to the tune of $120 million (£61 million).

Proven and probable resources found at Los Filos will be targeted this year in an attempt to increase them from their present level of 4.5 million ounces, Mr McArthur mentioned.

 

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