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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

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    This page last modified:   October 29, 1997