VANCOUVER - Goldcorp Inc. (TSX:G) said Tuesday it has poured its first gold at the Penasquito project in Mexico.
The Vancouver-based miner said nearly two million tonnes of ore has been stacked on the heap leach pads, with percolation rates, heap chemistry and gold recovery rates "meeting or exceeding expectations."
Goldcorp said the project remains on schedule and on budget.
Penasquito is expected to produce more than 400,000 ounces of gold and 30 million ounces of silver annually.
Goldcorp shares traded down $1.30 or three per cent at $38.36 Monday morning on a down day for gold stock generally on the TSX.
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