FORM
6-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
For
the
month of April 2006
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Goldcorp
Inc.
(Translation
of registrant's name into English)
|
|
Suite
1560, 200 Burrard Street
Vancouver,
British Columbia V6C 3L6 Canada
(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual reports
under
cover Form 20-F or Form 40-F.
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Form
20-F
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....[ ].....
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Form
40-F
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....[X]....
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
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Note:Regulation
S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if
submitted solely to provide an attached annual report to security
holders.
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(7): ____
| Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. |
Indicate
by check mark whether by furnishing the information contained in this Form,
the
registrant is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes
|
[
]
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No | [X] |
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
 |
Suite
1560 - 200 Burrard St.
Vancouver,
BC, V6C 3L6
Tel:
(604) 696-3000
Fax:
(604) 696-3001
|
|
Toronto
Stock Exchange: G
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New
York Stock Exchange:GG
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Goldcorp
Completes Los Filos Feasibility Study
Vancouver,
British Columbia: April 20, 2006 - Goldcorp Inc.
(TSX: G, NYSE:
GG)
is
pleased to announce that the combined Los Filos
and Bermejal feasibility study
has been completed.
A
feasibility study for the Los Filos deposit was
originally completed in 2005. It
has now been expanded to include the adjacent
and subsequently acquired Bermejal
deposit. The combined deposits will be referred
to as the Los Filos Project
going forward.
Project
construction is well advanced and expected to
be completed by the end of 2006
with commercial production planned to start in
the second quarter of 2007.
Commercial production for 2007 is expected to
be 200,000 ounces of gold rising
to 350,000 ounces in 2008. Approximately 70%
of all project capital has been
either spent or committed to date. The access
road is completed, electrical
power is energized, the water supply is 80% complete,
and pit stripping is 35%
complete with the ore leaching facilities 40%
complete.
The
mine
reserves and resources total over 5 million ounces
with 4.51 million ounces in
proven and probable reserves.
|
·
|
Mineral Reserves |
Tonnage
|
Grade
|
Contained
Gold
|
|
|
|
(million
tonnes)
|
(grams
Au/tonne)
|
(million
ounces)
|
|
|
Proven
|
25.16
|
0.88
|
0.72
|
|
|
Probable
|
177.49
|
0.66
|
3.79
|
|
|
Proven
and Probable
|
202.65
|
0.69
|
4.51
|
|
·
|
Mineral
Resources
|
Tonnage
|
Grade
|
Contained
Gold
|
|
|
(exclusive
of reserves) |
(million
tonnes)
|
(grams
Au/tonne)
|
(million
ounces)
|
|
|
Measured
|
3.22
|
0.78
|
0.08
|
|
|
Indicated
|
12.96
|
0.68
|
0.28
|
|
|
Measured
and Indicated
|
16.18
|
0.70
|
0.36
|
|
|
Inferred
|
10.92
|
0.49
|
0.17
|
The
Los
Filos and El Bermejal deposits will be developed
as a twin open pit-heap leach
operation, with two different methods of ore
processing. Higher grade ore from
within the Los Filos deposit will be crushed
to 19mm and agglomerated before
being conveyor stacked and heap leached. Lower
grade ore from Los Filos and El
Bermejal deposits will be hauled from the open
pit directly to the leach pad to
be bulk heap leached. The recovered solution
will be treated to produce a final
gold doré product on site.
Extensive
metallurgical testing has been completed indicating
average recoveries of 72%
with crush/leach ore and 59% for direct dumped
ore. Over 37% or 1.05 million
ounces of recovered gold will come from the crush/leach
ore.
The
project is locally well serviced with existing
infrastructure, including paved
highway, electric power and water source, all
only 15 km from the mine site. The
project is on a major highway route, 3 hours
south of Mexico City. The project
is also serviced by two nearby towns with a skilled
mining labour force. Mining
has always been an important part of the culture
in the area for decades, and
strong support for the Los Filos project has
been received from the local
communities and government agencies.
Exploration
drilling is continuing on pit extensions and
in particular higher grade ore
areas. The skarn peripherals have returned encouraging
drill intersections that
can be economically serviced from underground
and possibly open pit. The
strategic aim of the project is to continue developing
further ore volume and
higher grade ore from Los Filos, El Bermejal,
and the neighboring Nukay district
that will justify a new conventional milling
operation in parallel with the heap
leaching operation.
Production
and economic statistics for the Life of Mine
are summarized as
follows:
|
·
LOM
Ore
Production
|
203
million tonnes
|
|
·
Crushing
Plant
Throughput
|
4
million tonnes/year
|
|
·
Run
of Mine Leach
Rate
|
20
million tonnes/year
|
|
·
Mining
Strip
Ratio
|
1.5
to 1
|
|
·
Crush/Leach
Ore
Grade
|
1.50
grams gold/tonne
|
|
·
Run
of Mine Leach Ore
Grade
|
0.55
grams gold/tonne
|
|
·
Total
Mine
Grade
|
0.69
grams gold/tonne
|
|
·
Average
Heap Leach
Recoveries
|
|
|
o
Crush Leach
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72%
|
|
o
Run of Mine Leach
|
59%
|
|
·
Average
Annual Gold
Production
|
315,000
ounces/year
|
|
·
Total
Gold
Production
|
2.84
million ounces
|
|
·
Capital
Cost
|
US$
187 million
|
|
·
Pre-Production
Capital
|
US$
45 million
|
|
·
Cash
Operating
Cost
|
US$
250/ounce of gold
|
A
technical report relating to the feasibility
study has been filed on
www.sedar.com. The feasibility study comprises
several studies prepared by
Independent Mining Consultants (“IMC”) (mineral reserves, mine planning, pit
design, mine production schedule, waste dome
design, mine capital and operating
cost estimate), Snowden Mining Industry Consultants
(“Snowden”) (mineral
resource estimate), SRK Consulting Engineer and
Scientists (environmental
studies and permit support), Golder Associates
(“Golder”) (heap leach pad and
ponds, mine waste dumps, surface water diversion,
access/haul road and pit slope
design), McClelland Laboratories (metallurgical
testing) and Kappes Cassiday and
Associates (“Kappes Cassiday”) (metallurgical testing, gold recovery and
facility engineering).
P.
John
Barton, B.Sc.(Eng.), ARSM, MAus/MM of Snowden,
Andrew F. Ross, M.Sc., P.Geo. of
Snowden, Michael C. Hester, Mining Engineer,
of IMC, Daniel W. Kappes, P.Eng.,
B.Sc., M.Sc. of Kappes Cassiday and John F. Lupo,
Ph.D., P.E. of Golder are the
independent qualified persons within the meaning
of National Instrument 43-101,
who prepared the technical report and have reviewed
and approved the contents of
this new release.
Goldcorp
is the world’s lowest cost multi-million ounce gold producer.
Annualized gold
production in 2006 is expected to be approximately
2 million ounces at a cash
cost of US$125 per ounce and the Company does
not hedge its gold
production.
Notes:
| 1. |
All
Mineral
Reserves and Mineral Resources have been
estimated as of December 2005 in
accordance with the Definition Standards
on Mineral Resources and Mineral
Reserves of the Canadian Institute of
Mining, Metallurgy and Petroleum, as
required by National Instrument 43-101.
|
| 2. |
The
mineral resource block model was estimated
by Snowden Mining Industry
Consultants, Vancouver. The mineral resources
are wholly contained within
a Au=US$450/oz pit shell, and are reported
exclusive of mineral reserves.
The pit shell was generated and reporting
was completed by Mike Hester,
FAusIMM, an employee of Independent Mining
Consultants, Tucson and a
qualified person.
|
| 3. |
The
Mineral Reserves were prepared by Independent
Mining Consultants, Tucson
under the direction of Mike Hester, FAusIMM
an employee of IMC and the
qualified person for reporting of the
Mineral Reserves
estimates.
|
| 4. |
The
heap leach recoveries were estimated
by Kappes, Cassiday, and Associates,
Reno under the direction of Daniel Kappes
the qualified person for
reporting recoveries.
|
| 5. |
Mineral
Resources which are not Mineral Reserves
do not have demonstrated economic
viability.
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| 6. |
A
gold price of US$ 400 per ounce was used
for Los Filos pit, and US$ 425
per ounce for Bermejal.
|
Cautionary
Note Regarding Forward Looking Statements
This
press release contains “forward-looking statements”, within the meaning of the
United States Private Securities Litigation Reform
Act of 1995 and similar
Canadian legislation. Forward-looking statements
include, but are not limited
to, statements with respect to the future price
of gold, silver and copper, the
estimation of mineral reserves and resources,
the realization of mineral reserve
estimates, the timing and amount of estimated
future production, costs of
production, capital expenditures, costs and timing
of the development of new
deposits, success of exploration activities,
permitting time lines, currency
exchange rate fluctuations, requirements for
additional capital, government
regulation of mining operations, environmental
risks, unanticipated reclamation
expenses, title disputes or claims and limitations
on insurance coverage.
Generally, these forward-looking statements can
be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such
words and phrases or state that certain actions,
events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are subject to known
and unknown risks, uncertainties
and other factors that may cause the actual results,
level of activity,
performance or achievements of Goldcorp to be
materially different from those
expressed or implied by such forward-looking
statements, including but not
limited to: risks related to the integration
of acquisitions; risks related to
international operations; risks related to joint
venture operations; actual
results of current exploration activities; actual
results of current reclamation
activities; conclusions of economic evaluations;
changes in project parameters
as plans continue to be refined; future prices
of gold, silver and copper;
possible variations in ore reserves, grade or
recovery rates; failure of plant,
equipment or processes to operate as anticipated;
accidents, labour disputes and
other risks of the mining industry; delays in
obtaining governmental approvals
or financing or in the completion of development
or construction activities, as
well as those factors discussed in (a) the section
entitled “Description of the
Business - Risk Factors” in Goldcorp’s annual information form for the year
ended December 31, 2004, and (b) the section
entitled “Description of the
Business - Risk Factors” in Wheaton River Minerals Ltd.’s annual information
form for the year ended December 31, 2004. Although
Goldcorp has attempted to
identify important factors that could cause actual
results to differ materially
from those contained in forward-looking statements,
there may be other factors
that cause results not to be as anticipated,
estimated or intended. There can be
no assurance that such statements will prove
to be accurate, as actual results
and future events could differ materially from
those anticipated in such
statements. Accordingly, readers should not place
undue reliance on
forward-looking statements. Goldcorp does not
undertake to update any
forward-looking statements that are incorporated
by reference herein, except in
accordance with applicable securities laws.
Cautionary
Note to United States Investors Concerning Estimates
of Measured, Indicated and
Inferred Resources:
This press release uses the terms “Measured”, “Indicated” and “Inferred”
Resources. United States investors are advised that while
such terms are
recognized and required by Canadian regulations,
the United States Securities
and Exchange Commission does not recognize them. “Inferred Mineral
Resources” have a great amount of uncertainty as to their
existence, and as to
their economic and legal feasibility. It cannot be assumed that all or any
part of an Inferred Mineral Resource will ever
be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Mineral
Resources
may not form the basis of feasibility or other
economic
studies.
United States investors are cautioned not to
assume that all or any part of
Measured or Indicated Mineral Resources will
ever be converted into Mineral
Reserves. United States investors are also cautioned not
to assume that
all or any part of an Inferred Mineral Resource
exists, or is economically or
legally mineable.
For
further information, please contact:
Julia
Hasiwar
Director,
Investor Relations
Goldcorp
Inc.
Telephone:
604-696-3011
Fax:
(604) 696-3001
e-mail:
info@goldcorp.com
website:
www.goldcorp.com
Signature
Pursuant
to the requirements of the Securities Exchange
Act of 1934, the registrant has
duly caused this report to be signed on its
behalf by the undersigned, thereunto
duly authorized.
| GOLDCORP INC. | ||
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Date: April
20, 2006
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/s/Anna
M. Tudela
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Name: Anna M. Tudela |
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Title:
Assistant Corporate Secretary and
Director,
Legal
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