What you want in a gold stock is a company with rising reserves and falling costs. Goldcorp’s (GG) end of 2009 report on reserves shows that it’s still delivering rising reserves. We’ll see how the company is doing on costs when it reports after the market closes on March 11.
In 2009, the company said in February reserves grew by 5.3% to 48.8 million ounces from 46.3 million ounces at the end of 2008.
But that’s not all that Goldcorp mines.
The company also reported silver reserves of 1.3 billion ounces (up from 1.25 billion ounces at the end of the end of 2008), copper reserves of 1.23 billion pounds (down from 1.37 billion pounds at the end of 2008), lead reserves of 10.7 billion pounds (down from 12.5 billion pounds at the end of 2008) and zinc reserves of 27.8 billion pounds (down from 34.8 billion pounds).