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Kinross is Looking Forward to New Mine Projects after 3Q15 (Continued from Prior Part) Round Mountain
Kinross Gold’s (KGC) gold production at Round Mountain increased by 30% year-over-year (or YoY) in 3Q15. This increase was due to an increase in mill recoveries, which rose from 61% to 81%, and improved solutions management.
Round Mountain saw its highest production in six years and its lowest cost of sales in three years. A new margin-focused solutions management approach is driving margins at Round Mountain. The company expects to continue this strategy across all of its operations.
Fort Knox
Fort Knox also depicted very strong performance in 3Q15 with its lowest cost of sales in two years. A 25% YoY decrease was mainly due to lower diesel and power costs. Its production was also strong due to higher mill grades and timing of ounces processed through the mill.
Paracatu
The production at Paracatu increased due to higher mill grades and increased recovery, which improved the cost of sales. Kinross has temporarily suspended Plant 1 and reduced operations at Plant 2 due to a lack of rainfall. As a result, Kinross’s production for the full year should be impacted by at least 22,000 ounces. However, the company maintained that it is not expected to impact its 2015 regional or company-wide guidance.
Newmont Mining (NEM) maintained its production guidance for 2015 but reduced its cost guidance. Goldcorp (GG) maintained its guidance for 2015.
Newmont and Goldcorp form 11% of the Market Vectors Gold Miners ETF’s (GDX) holdings. Gold-backed ETFs like the SPDR Gold Trust ETF (GLD) and the iShares Gold Trust ETF (IAU) are another way for investors to get diversified exposure to gold prices.
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Kinross Gold Corporation
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PRODUCER |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinross Gold is a gold producing company based in Canada. Kinross Gold produces gold, silver in Brazil, in Canada, in Chile, in Ghana, in Mauritania, in Russia and in USA, develops copper, gold and silver in Chile, and holds various exploration projects in Canada, in Chile and in Russia. Its main assets in production are ROUND MOUNTAIN in USA, CRIXÁS, MORRO DO OURO and PARACATU in Brazil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA and LA COIPA in Chile, PORCUPINE and MUSSELWHITE in Canada, CHIRANO in Ghana, TASIAST in Mauritania and KUPOL in Russia, its main assets in development are KETTLE RIVER, GOLD HILL and CERRO CASALE in Chile and its main exploration properties are AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI and GOLDBANKS - KINROSS in Ghana, FRUTA DEL NORTE in Ecuador, HAMMOND REEF in Canada, KUBAKA MINE - BIRKACHAN in Russia and LOBO-MARTE in Chile. Kinross Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.3 billions as of today (US$ 8.2 billions, € 7.7 billions). Its stock quote reached its lowest recent point on October 27, 2000 at CA$ 1.43, and its highest recent level on December 13, 2002 at CA$ 9.99. Kinross Gold has 1 246 749 952 shares outstanding. |