|
1,914,000 Ounces of Gold
A gram of gold is the size of a shirt button. But it can provide a day's
income of $12 to feed the family of an independent hand miner in Venezuela.
It's all a matter of scale, but our purpose is the same. At 31 grams per
troy ounce, Placer Dome produced 2,210,000 ounces of gold in 1996 of which
the Corporation's share was 1,914,000 ounces. Our gold mines generated
operating earnings of $208 million in 1996, worldwide. We aim to provide
growth for our investors, and improved standards of living for those who
inhabit regions of the world where our mining investments take place.
Progress Towards our Goals
|
1995
|
1996
|
1998-2000
|
Gold production (millions of ozs.)
Cash production cost ($/oz.)
Ore reserve life (years)
Gross Revenue from Gold
|
1.9
217
11
82%
|
1.9
235
14
77%
|
average 2.7
<220
10
>75%
|
|
1996 |
1995 |
1994 |
FINANCIAL (in millions, except return on shareholders' equity)
| |
Sales |
$1,157 |
$1,029 |
$899 |
Operating earnings |
106 |
146 |
161 |
Net earnings (loss) |
(65) |
74 |
105 |
Return on shareholders' equity |
- |
4.8% |
6.9% |
Cash flow from operations |
218 |
229 |
225 |
Cash and short-term investments |
417 |
321 |
312 |
Cash invested in property, plant and equipment |
416 |
451 |
434 |
Long-term debt |
656 |
554 |
244 |
PER COMMON SHARE |
|
|
|
Net earnings (loss) |
$(0.27) |
$0.31 |
$0.44 |
Dividends |
$0.30 |
$0.30 |
$0.27 |
PRODUCTION (in millions, except gold) |
|
|
|
The Corporation's share: |
|
|
|
Gold - ounces (thousands) |
1,914 |
1,858 |
1,721 |
Cash production cost (dollars per ounce) |
235 |
217 |
198 |
Silver - ounces |
7.3 |
5.4 |
6.6 |
Copper - pounds(1) |
180.7 |
96.9 |
40.4 |
Molybdenum - pounds |
14.5 |
14.4 |
13.7 |
(1) Includes the Corporation's share of production from Gibraltar's
McLeese Lake Mine and Marcopper Mine. The Corporation's interest in
Gibraltar Mines Limited was sold effective October 12, 1996. The Marcopper
Mine ceased operations on March 24, 1996.
- 1996 Annual Report (PDF File - 1,512K)
"The Latest" includes a Portable Document Format file of the 1996 annual report.
The following reports are available in table format.
- President's Report to the Shareholders
- Consolidated Statements of Earnings
- Consolidated Statements of Retained Earnings
- Consolidated Statements of Cash Flows
- Consolidated Balance Sheets
- 1997 Third Quarter Earnings Report (Press Release)
The following reports provide financial data in table format.
- Financial Highlights
- Review of Operations
- Production and Operating Summary
- Earnings Summary
1996 Gold Ore Reserves
|