4.120 USD  -0.040 (-0.96%)
Streaming Delayed Price  /  Updated: 11:27 AM EDT, Apr 24, 2014  /  Add to My Watchlist      
(KGC) Community Analysis from
April 24, 2014
(Stock Blog Hub, 1/1/13)
Kinross Gold Corporation (KGC) recently came out with a denial statement regarding a joint venture (JV) agreement between Kinross and Southridge Enterprise Inc....(read more)
(Penny Stock DD, 7/14/12)
Kinross Gold Corp., Canada’s third largest gold producer, is likely a takeover target for larger rival Barrick Gold Corp., according to a report by Veritas Investment Research in...(read more)
(Stock Blog Hub, 1/17/12)
Kinross Gold Corporation (KGC) declared preliminary operating results for full-year 2011 while providing guidance for 2012. Kinross expects 2011 production to be approximately 2.6...(read more)
Kinross Gold (KGC) Company Overview

Kinross Gold Corporation (KGC) NYSE:KGC TSX:K is a gold (and silver at three locations and copper at one location) mining company that for most of its history (since 1993) has been largely a mine developer and exploration company (minor producer). Since 2008 it is one of the 10 biggest gold companies in terms of both production (about 60% as much as the world's 3rd largest producer Anglogold Ashanti) and size (market value). Its September 2010 purchase of the 91% of Redback Mining shares it didn't own added 9-10 million ounces of 2P (Provan and Probable) gold reserves to the 50.95 million it was estimated to have at the end of 2009.[1] (Red Back Mining also increased total resources by 22.7% up to a total of 92.6 million ounces of gold equivalent). By comparison, Kinross's reserves totalled 45.6 million ounces in 2008 (plus 19.1 measured and indicated) 41% in Brazil, 38% in Chile 14% in the USA and 7% in Russia, Ecuador was home to 64% of its 21.3 million ounces of inferred resource.[2] Its Cerro Casale mine in Chile which is shares joint ownership of with Anglogold Ashanti (isn't producing (November 2010)) has reserves of gold, silver and copper. The company has facilities in United States, Canada, Brazil, Chile, Russia, Ecuador and Africa, and caters to a diverse clientele in Brazil, Chile, Canada and Greece. Kinross runs several mines, including Fort Knox and Round Mountain in the U.S. Porcupine and Musselwhite in Canada La Coipa and Maricunga (formerly Refugio) in Chile Kubaka in Russia and Crixas and Paracatu in Brazil. About 71% of Kinross Gold's proven and probable reserves are in South America (that includes the assets acquired from the Red Back Mining takeover).[1] Though gold mine costs have been variable cash costs are up industrywide 4.1% in the third quarter of 2010.[3]

Other large transactions made by the company include the February 2007 $3.5 billion takeover of Bema Gold Corp. which increased the company's operating mines to nine in five countries. Its array of projects in the pipeline business comprise Paracatu in Brazil, Buckhorn in Washington, Kupol in Russia, and Cerro Casale in Chile. At the time of the Bema Gold acquisition (2007) Kinross/Bema had a combined resource base of more than 56 million ounces of gold, 82 million ounces of silver, and 3.8 billion pounds of copper. [2] In April 2011 Kinross increased its stake in Kupol to 100% from 75% after it bought out the regional government's (Chukotka Autonomous Okrug, Russia) USD 350 million share of the operation. Kupol generated 17% of Kinross' global gold production in 2010.[4]

(Read more at Wikinvest )

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