UPDATE 1-Goldcorp reports loss on impairment, tax-related charges

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Feb 13 (Reuters) - Goldcorp Inc G.TO reported a quarterly loss of more than $1 billion on Thursday on the back of impairment and tax charges and other one-time expenses.

The Vancouver-based miner said its net loss in the fourth quarter was $1.1 billion, or $1.34 a share. That compared with a year-earlier profit of $504 million, or 47 cents a share.

Excluding the one-time tax and impairment charges, along with reclamation and closure costs for Goldcorp's inactive mine sites, the company reported a profit of $74 million, or 9 cents a share, down from $465 million, or 57 cents a share, a year earlier, when precious metal prices were significantly higher.

The miner, which early in January made a C$2.6 billion ($2.4 billion) hostile bid for rival Osisko Mining Corp , said its quarterly revenue fell to $1.2 billion from $1.43 billion despite record gold production levels, as its average realized gold price in the quarter fell to $1,254 an ounce from $1,692 an ounce a year earlier.

Goldcorp announced it had 54.4 million ounces of proven and probable gold reserves at the end of 2013, based on a $1,300 per ounce gold price. At the end of 2012 it had reserves of 67.1 million ounces, based on a price of $1,350.

Gold miners typically calculate reserves - the amount of gold that it is economically feasible to mine - at the beginning of each year, and many are expected to lower their estimates with fourth-quarter results, following years of increases.

The price of gold dropped 28 percent in 2013 to just above $1,200 at year-end. When prices fall, reserves typically fall as well, because lower-quality ore can no longer be profitably mined.

($1 = 1.0988 Canadian dollars)

(Reporting by Euan Rocha; Editing by Lisa Von Ahn and Bernadette Baum)

((euan.rocha@thomsonreuters.com)(+1 416 941 8185)(Reuters Messaging: euan.rocha.reuters.com@reuters.net))

Keywords: GOLDCORP RESULTS/