2019 Full Year Attributable Guidance1
|
2019 |
|
| Essakane (000s oz.) |
375 – 390 |
| Rosebel (000s oz.) |
315 – 330 |
| Westwood (000s oz.) |
100 - 120
|
| Total owner-operator production (000s oz.) |
790 – 840
|
| Sadiola Joint Venture (000s oz.) |
20 – 30
|
| Total attributable production (000s oz.) |
810 - 870 |
|
| Cost of sales2 ($/oz) |
$790 - $840 |
|
| Total cash costs 3,4 - owner-operator ($/oz.) |
$765 - $815 |
| Total cash costs 3,5 ($/oz.) |
$765 - $815 |
|
| All-in sustaining costs 3,4 - owner-operator ($/oz.) |
$1,030 - $1,080 |
| All-in sustaining costs3,5 ($/oz.) |
$1,030 - $1,080 |
1 Guidance for 2019 is based on the following assumptions:
- Average gold price per ounce of $1,225; average crude oil price per barrel of $62; U.S. dollar value of the Euro of $1.15; and Canadian dollar value of the U.S. dollar of $1.30
2Cost of sales, excluding depreciation, is on an attributable ounce sold basis (excluding the non-controlling interest of 10% at Essakane and 5% at Rosebel) and does not include the Sadiola Joint Venture which is accounted for on an equity basis.
3 This is a non-GAAP measure. Refer to the non-GAAP performance measures section of this MD&A.
4Consists of Rosebel, Essakane, and Westwood on an attributable basis.
5 Consists of Rosebel, Essakane, Westwood, and the Sadiola joint venture on an attributable basis.
2019 Capital Expenditure Outlook
| ($ millions) |
Sustaining1 |
Non-sustaining (Development/ Expansion) |
Total2 |
| Owner-operator |
| Essakane |
75 |
50 |
125 |
| Rosebel |
70 |
75 |
145 |
| Westwood |
15 |
30 |
45 |
|
160 |
155 |
315 |
| Corporate and Development Projects2 |
- |
20 |
20 |
| Total Owner-Operator3 |
160 |
175 |
335 |
| Joint ventures4 |
- |
- |
- |
| Total3,4 (±5%) |
160 |
175 |
335 |
1 Sustaining capital includes capitalized stripping of $40 million for Essakane and $30 million for Rosebel.
2 Includes $16 million of capitalized exploration expenditures.
3 Capitalized borrowing costs are not included.
4In addition to the above capital expenditures, $10 million in total principal lease payments are expected.
In 2019, we expect capital spending to be $335 million ± 5%. The increase in spending over 2018 reflects advancement of the company's growth projects as outlined in the non-sustaining capital section below. Sustaining capital is expected to remain at a level similar to 2018. We anticipate a construction decision on the Côté Gold project in the first quarter of 2019. Associated capital expenditures will be provided at that time.