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Jan 16, 2018

'Stay tuned!': Goldcorp hints at blockchain strategy

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Goldcorp is putting its investors on tenterhooks with a vague reference to future plans to harness the power of blockchain.

The Canadian gold producer dedicated one slide in a 131-slide investor day presentation to its strategy to harness the power of ledger technology.

"Bitcoin and blockchain here to stay but so is gold," Goldcorp titled the slide that include a long-term chart illustrating bitcoin's meteoric rise against gold's relatively flat performance since 2010.

"Opportunity to tap demand by combining gold and blockchain," it added. "Stay tuned!"

The company didn't immediately respond to BNN's request for additional details.

Goldcorp also said on Tuesday its full-year production in 2017 of 2.57 million ounces came in above the midpoint of its forecast, while adding all-in sustaining costs this year are expected to fall to $800 per ounce from $825 in 2017.