Key Developments: Kinross Gold Corp (KGC)
5.67USD
20 May 2013
$0.41 (+7.79%)
$5.26
$5.28
$5.74
$5.25
13,821,142
11,907,336
$11.19
$4.97
Latest Key Developments (Source: Significant Developments)
Kinross Gold Corp Reaffirms FY 2013 Production Guidance
Kinross Gold Corp announced that the Company expects to be within its fiscal 2013 forecast guidance for production (2.4-2.6 million attributable gold equivalent ounces), production cost of sales ($740-$790 per gold equivalent ounce), all-in sustaining cost ($1,100-$1,200 per gold ounce sold) and capital expenditures ($1.6 billion). Full Article
Kinross Gold Corp Declares Dividend
Kinross Gold Corp announced that the Board of Directors has declared a dividend of $0.08 per common share, payable on March 28, 2013 to shareholders of record at the close of business on March 21, 2013. Full Article
Kinross Gold Corp Issues FY 2013 Production Guidance
Kinross Gold Corp announced that for fiscal 2013, it expects to produce approximately 2.4-2.6 million gold equivalent ounces at a production cost of sales per gold equivalent ounce of $740-790. Full Article
Southridge Enterprises Inc Announces Joint Partnership with Kinross Gold Corp for Cinco Minas and Gran Cabrera Properties
Southridge Enterprises Inc announced a new Joint Partner, Kinross Gold Corp for its Cinco Minas and Gran Cabrera properties. Southridge's joint partnership with Kinross is valued at roughly $550,000,000 to $600,000,000. Southridge and its advisers are currently working hand in hand with Kinross to finalize the remaining documents and agreements in order to execute this new joint partnership for its Cinco Minas and Gran Cabrera properties with Kinross. Due to the size and complexity of this transaction we expect to execute this joint partnership with Kinross by Mid-January. Full Article
Kinross Gold Corp Reaffirms FY 2012 Production Guidance
Kinross Gold Corp announced that the Company remains on track to meet its fiscal 2012 production forecast of approximately 2.5-2.6 million gold equivalent ounces from its continuing operations, and its cost of sales forecast of $690-$725 per gold equivalent ounce. Full Article
Kinross Gold Corp Announces Appointment Of New Chief Financial Officer
Kinross Gold Corp announced the appointment of Tony S. Giardini as Executive Vice-President and Chief Financial Officer. Mr. Giardini is expected to join Kinross effective December 1, 2012. He will replace Paul H. Barry, whose departure was announced on October 10, 2012, and who will continue in a transition role for an appropriate period. Full Article
Kinross Gold Corp's Barry To Quit As CFO-Canada Stockwatch News
Canada Stockwatch News reported that Kinross Gold Corp.'s Executive Vice-President and Chief Financial Officer (CFO), Paul H. Barry, will be leaving the Company and pursuing other interests. The Company is conducting a full search for a suitable replacement. Mr. Barry will remain in his role until a new CFO is appointed, and will assist the new CFO during an agreed transition period. Full Article
Kinross Gold Corp Announces USD1.0 Billion Term Loan, Increases Unsecured Revolving Credit Facility To USD1.5 Billion
Kinross Gold Corp announced that it has arranged a new US$1.0 billion term loan. The three-year term loan will mature on August 10, 2015, and has no mandatory amortization payments. Kinross also announced that it has amended its unsecured revolving credit facility. The changes to the facility include an increase of available credit to USD1.5 billion from USD1.2 billion, and an extension of the term to August 10, 2017 from March 31, 2015. The overall improvement in the terms and conditions reflect the Company's investment grade ratings, which were obtained after Kinross last refinanced the revolving credit facility on March 31, 2011. Kinross intends to use the proceeds of the financings for general corporate purposes. Joint lead arrangers were The Bank of Nova Scotia, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets. Full Article
Kinross Gold Corp Appoints New President
Kinross Gold Corp announced that Brant Hinze, formerly Executive Vice-President and Chief Operating Officer of Kinross, has been appointed President and Chief Operating Officer. Full Article
Kinross Gold Corp Lowers FY 2012 Production Guidance; Declares Dividend
Kinross Gold Corp announced that it expects to produce approximately 2.5-2.6 million gold equivalent ounces from its continuing operations, compared with its previous forecast of 2.6-2.8 million gold equivalent ounces. The Company remains on track to meet its fiscal 2012 production forecast excluding the adjustment for Crixas. Cost of sales for fiscal 2012 are forecast to be $690-$725 per ounce, compared with the previous forecast of $670-$715, due to higher forecast production cost of sales per ounce in West Africa and South America. The Company also announced that the Board of Directors has declared a dividend of $0.08 per common share, payable on September 28, 2012 to shareholders of record at the close of business on September 21, 2012. Full Article
Ecuador pushing ahead with reforms to lure mining investors
* Government-controlled Congress likely to approve reforms
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