Annual Report on Form 40-F
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 40-F
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Registration statement pursuant to Section 12 of the Securities Exchange Act of 1934 |
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Annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 |
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For
the fiscal year ended December 31, 2006
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Commission File Number
001-12970 |
GOLDCORP INC.
(Exact name of registrant as specified in its charter)
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Ontario, Canada
(Province or Other Jurisdiction of
Incorporation or Organization)
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1041
(Primary Standard Industrial Classification
Code)
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Not Applicable
(I.R.S. Employer
Identification No.) |
Suite 3400 666 Burrard Street
Vancouver, British Columbia
V6C 2X8
(604) 696-3000
(Address and telephone number of registrants principal executive offices)
CT Corporation System
c/o Team 1, New York
111 8th Avenue
New York, New York 10011
(800) 223-7567
(Name, address (including zip code) and telephone number (including
area code) of agent for service in the United States)
Securities to be registered pursuant to Section 12(b) of the Act:
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Title of Each Class:
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Name of Each Exchange On Which Registered: |
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Common Shares
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New York Stock Exchange |
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Toronto Stock Exchange |
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Common Share Purchase Warrants
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New York Stock Exchange, Toronto Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act: None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None
For annual reports, indicate by check mark the information filed with this form:
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þ Annual Information Form
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þ Audited Annual Financial Statements |
Indicate the number of outstanding shares of each of the registrants classes of capital or common
stock as of the close of the period covered by the annual report:
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Class
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Outstanding at
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December 31, 2006
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Common Shares, no par value
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703,524,461 |
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Common Share Purchase Warrants
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8,439,212 |
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Indicate by check mark whether the Registrant by filing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934 (the Exchange Act). If Yes is marked, indicate the filing
number assigned to the Registrant in connection with such Rule. o Yes þ No
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period
that the Registrant was required to file
such reports) and (2) has been subject to such filing requirements for the past 90 days.
þ Yes
o No
TABLE OF CONTENTS
DISCLOSURE CONTROLS AND PROCEDURES
The Registrant carried out an evaluation as of the end of the period covered by the report, under
the supervision and with the participation of the Registrants management, including the
Registrants Chief Executive Officer and Chief Financial Officer, of the effectiveness of the
Registrants disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the
Securities and Exchange Act of 1934 (the Exchange Act). Based on that evaluation, the Chief
Executive Officer and Chief Financial Officer have concluded that the Registrants disclosure
controls and procedures as of December 31, 2006 were effective to ensure that information required
to be disclosed by the Registrant in reports that it files or submits under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified in Securities and
Exchange Commissions rules and forms and is accumulated and communicated to the Registrants
management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to
allow timely disclosure regarding required disclosure.
MANAGEMENTS REPORT ON INTERNAL CONTROLS OVER FINANCIAL REPORTING
The management of the Registrant is responsible for establishing and maintaining adequate internal
control over financial reporting. Internal control over financial reporting is a process to
provide reasonable assurance regarding the reliability of the Registrants financial reporting for
external purposes in accordance with accounting principles generally accepted in Canada and in the
United States of America. Internal control over financial reporting includes maintaining records
that in reasonable detail accurately and fairly reflect our transactions and dispositions of the
assets of the Registrant; providing reasonable assurance that transactions are recorded as
necessary for preparation of our financial statements in accordance with generally accepted
accounting principles; providing reasonable assurance that receipts and expenditures are made in
accordance with authorizations of management and the directors of the Registrant; and providing
reasonable assurance that unauthorized acquisition, use or disposition of company assets that could
have a material effect on the Registrants financial statements would be prevented or detected on a
timely basis. Because of its inherent limitations, internal control over financial reporting is
not intended to provide absolute assurance that a misstatement of our financial statements would be
prevented or detected.
Management conducted an evaluation of the effectiveness of our internal control over financial
reporting based on the framework and criteria established in Internal Control Integrated
Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission. This
evaluation included review of the documentation of controls, evaluation of the design effectiveness
of controls, testing of the operating effectiveness of controls and a conclusion on this
evaluation. Based on this evaluation, management concluded that the
Registrants internal control
over financial reporting was effective as of December 31, 2006. Managements assessment of the
effectiveness of the Registrants internal control over financial reporting as of December 31, 2006
has been audited by Deloitte & Touche LLP, an independent registered public accounting
firm, as stated in their report.
Management has excluded from the assessment of internal controls over financial reporting Glamis
Gold Ltd. (Glamis) which was acquired on November 4, 2006 and certain of the Placer Dome
operations and projects acquired on May 12, 2006 consisting of interests in the Porcupine and
Musselwhite joint ventures in Canada, a 50% interest in the La Coipa gold/silver mine in Chile and
a 40% interest in the Pueblo Viejo development project in the Dominican Republic (the Placer Dome
Operations and Projects). Glamis and the Placer Dome Operations and Projects constitute 83% and
71% of net and total assets, respectively, 22% of revenues and 1% of net income of the consolidated
financial statement amounts as of and for the year ended December 31, 2006. Management has also
excluded from its assessment the internal control over financial reporting at Minera Alumbrera
Limited (Alumbrera) in which we hold a 37.5% interest, because management does not have the
ability to dictate or modify controls at this entity and management does not have the ability to
assess, in practice, the controls at the entity. Under US generally accepted accounting principles,
Alumbrera is accounted for using the equity method of accounting and
the Registrants proportionate
interest in individual assets, liabilities, revenues and expenses is excluded from the consolidated
financial statements of the Registrant. Under Canadian generally accepted accounting principles, the
Registrant proportionately consolidates Alumbrera which constitutes 6% of net and total assets,
respectively, 35% of revenues and 57% of net income of the consolidated financial statement amounts
as of and for the year ended December 31, 2006.
During the fiscal year ended December 31, 2006, there were no changes in the Registrants internal
control over financial reporting that have materially affected or are reasonably likely to
materially affect the Registrants internal control over financial reporting (as defined in Rules
13(a)-15(f) and 15d-14(f) under the Securities Exchange Act of 1934).
AUDIT COMMITTEE FINANCIAL EXPERT
Beverley Anne Briscoe serves as a member of the audit committee of the Registrants Board of
Directors. The Board of Directors has reviewed the definition of audit committee financial
expert under item 8(a) of General Instruction B to Form 40-F and determined that Beverley Anne
Briscoe satisfies the criteria for an audit committee financial expert under the Exchange Act. The
SEC has indicated that the designation of Beverley Anne Briscoe as an audit committee financial
expert does not make Beverley Anne Briscoe an expert for any purpose, impose any duties,
obligations or liability on Beverley Anne Briscoe that are greater than those imposed on members of
the audit committee and board of directors who do not carry this designation or affect the duties,
obligations or liability of any other member of the audit committee.
IDENTIFICATION OF AUDIT COMMITTEE
The Registrant has a separately designated standing Audit Committee. The current members of the
Audit Committee are Beverley Anne Briscoe, Larry Bell, Dan Rovig and Kenneth Williamson each of
whom is independent as such term is defined under applicable securities laws and applicable New
York Stock Exchange rules. The information contained under the heading Audit Committee of the
Registrants 2006 Annual Information Form, filed as Exhibit 99.1 to this annual report on Form
40-F, is incorporated herein by reference.
CODE OF ETHICS
The Registrant has adopted a code of ethics that applies to the Registrants principal executive
officer, principal financial officer and principal accounting officer. A copy of Registrants code
of ethics is available without charge, upon request made to the Manager, Corporate Communications
at Suite 3400-666 Burrard Street, Vancouver, British Columbia, V6C 2X8, Canada.
PRINCIPAL ACCOUNTANT FEES AND SERVICES
See page 108 of the Registrants Annual Information Form, which is incorporated herein by
reference.
OFF-BALANCE SHEET ARRANGEMENTS
The Registrant is not a party to any off-balance sheet arrangements that have, or are reasonably
likely to have, a current or future material effect on the Registrants financial condition,
revenues, expenses, results of operations, liquidity, capital expenditures or capital resources.
TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS
The disclosure provided under Liquidity and Capital Resources in the Managements Discussion and
Analysis for the Year ended December 31, 2006 in Exhibit 99.3 hereto is incorporated by reference
herein.
DISCLOSURE PURSUANT TO THE REQUIREMENTS OF THE NEW YORK STOCK EXCHANGE
The Registrants corporate governance practices have been and continue to be in compliance with
applicable New York Stock Exchange requirements.
Corporate Governance Guidelines
According to Section 303A.09 of the NYSE Listed Company Manual, a listed company must adopt and
disclose a set of corporate governance guidelines with respect to specified topics. Such guidelines
are required to be posted on the listed companys website. The Registrant operates under corporate
governance principles that are consistent with the requirements of Section 303A.09 of the NYSE
Listed Company Manual, and which are described in the Registrants website at www.goldcorp.com.
Board Committee Mandates
The mandates of the registrants audit committee, compensation committee, governance and nominating
committee and sustainability, environment, health and safety committee are each available for
viewing on the Registrants website at www.goldcorp.com, and are available in print to any
shareholder who requests them. Requests for copies of these documents should be made by contacting:
Manager, Corporate Communications Park Place, Suite 3400, 666 Burrard Street, Vancouver, British
Columbia, V6C 2X8 Canada.
UNDERTAKINGS
The Registrant undertakes to make available, in person or by telephone, representatives to respond
to inquiries made by the Commission staff, and to furnish promptly, when requested to do so by the
Commission staff, information relating to the securities registered pursuant to Form 40-F; the
securities in relation to which the obligation to file an annual report on Form 40-F arises; or to
transactions in said securities.
SIGNATURES
Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all
of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on
its behalf by the undersigned, thereunto duly authorized.
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GOLDCORP INC. |
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/s/ C. Kevin McArthur |
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C. Kevin McArthur
President and Chief Executive Officer |
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Date: March 30, 2007 |
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EXHIBIT INDEX
The following documents are being filed with the Commission as exhibits to this annual report on
Form 40-F.
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Exhibit |
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Description |
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1.
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Annual Information Form |
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2.
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Managements Discussion and Analysis |
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3.
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Annual Financial Statements |
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4.
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Consent of Deloitte & Touche LLP |
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5.
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Consent of KPMG LLP |
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6.
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Consents of E. Strom |
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7.
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Consent of R. Berthelsen |
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8.
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Consent of A. Cheatle |
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9.
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Consent of A. Guaringa |
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10.
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Consent of L. Rivera |
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11.
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Consent of T. Drielick |
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12.
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Consent of M. Pegnam |
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13.
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Consent of C. Huss |
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14.
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Consent of T. Wythes |
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15.
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Consent of T. Sanford |
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16.
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Consent of J. Johnson |
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17.
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Consent of N. Prenn |
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18.
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Consent of M. Hester |
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19.
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Consent of R. Rivera |
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20.
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Consent of T. Jones |
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21.
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Consent of B. Hennessey |
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22.
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Consent of I. Gotz |
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Exhibit |
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Description |
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23.
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Consent of H. Burgess |
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24.
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Consent of J. Gray |
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Consent of A. Ross |
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26.
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Consent of D. Wells |
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27.
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Consent of A. Stechishen |
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28.
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Consent of D. Kappes |
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29.
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Consent of D. Crick |
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30.
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Consent of S. Price |
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31.
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Consent of M. Kociumbas |
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32.
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Consent of V. Spring |
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33.
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Consent of R. MacFarlane |
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34.
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Consent of J. Voorhees |
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35.
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Consent of S. Blais |
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36.
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Consent of A. Still |
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37.
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Consent of AMEC Americas Ltd. |
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38.
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Certifications of Chief
Executive Officer and
Chief Financial Officer
pursuant to Rule
13(a)-14(a) or 15(d)-14
of the Securities
Exchange Act of 1934. |
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39.
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Certifications of Chief
Executive Officer and
Chief Financial Officer
pursuant to 18 U.S.C.
Section 1350. |