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| 09.17.15 - Kinross updates 2015 full-year guidance | |
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Lowers all-in sustaining cost, cost of sales and capital expenditure guidance
Toronto, Ontario - September 17, 2015 - Kinross Gold Corporation (TSX:K; NYSE:KGC) announced today that it has updated its 2015 full-year guidance for all-in sustaining cost, cost of sales, capital expenditures, production and overhead.
The positive adjustments are:
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All-in sustaining cost per gold equivalent ounce (Au eq. oz.) sold guidance lowered to $975-$1,025 from $1,000-$1,100.
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Cost of sales per Au eq. oz. guidance range lowered to $690-$730 from the previous guidance range of $720-$780.
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Capital expenditure guidance lowered to $650 million from $725 million.
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Production guidance range narrowed upward to 2.5-2.6 million Au eq. oz. from the previous guidance range of 2.4-2.6 million Au eq. oz.
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Overhead (general and administrative, and business development expenses) expected to be below guidance of $205 million. Kinross is also exploring additional opportunities to reduce overhead costs as part of a company-wide spending review, the results of which will be announced in the third quarter of 2015.
"We are on track for another strong year as a result of our continued focus on cost reduction and drive to enhance production," said Kinross President and CEO J. Paul Rollinson. "Every region has stepped up and is expected to produce at, or above, its prior guidance range, and below prior cost guidance ranges. Capital expenditures, which we have decisively reduced in recent years, are expected to come in significantly below prior guidance. Expected savings from sustaining capital represents roughly half the reduction, with the remainder coming from a combination of planned deferrals and savings of discretionary capital spending. This, along with measured reductions in overhead, have contributed to a sizable reduction in our all-in sustaining cost guidance."
About Kinross
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
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Kinross Gold Corporation
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PRODUCTEUR |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Kinross Gold est une société de production minière d'or basée au Canada. Kinross Gold est productrice d'or, d'argent en USA, au Bresil, au Canada, au Chili, au Ghana, en Mauritanie et in Russia, en développement de projets d'argent, de cuivre et d'or au Chili, et détient divers projets d'exploration au Canada, au Chili et in Russia. Ses principaux projets en production sont ROUND MOUNTAIN en USA, CRIXÁS, MORRO DO OURO et PARACATU au Bresil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA et LA COIPA au Chili, PORCUPINE et MUSSELWHITE au Canada, CHIRANO au Ghana, TASIAST en Mauritanie et KUPOL in Russia, ses principaux projets en développement sont KETTLE RIVER, GOLD HILL et CERRO CASALE au Chili et ses principaux projets en exploration sont AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI et GOLDBANKS - KINROSS au Ghana, FRUTA DEL NORTE en Equateur, HAMMOND REEF au Canada, KUBAKA MINE - BIRKACHAN in Russia et LOBO-MARTE au Chili. Kinross Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,3 milliards CA$ (6,6 milliards US$, 5,8 milliards €). La valeur de son action a atteint son plus bas niveau récent le 27 octobre 2000 à 1,43 CA$, et son plus haut niveau récent le 13 décembre 2002 à 9,99 CA$. Kinross Gold possède 1 246 749 952 actions en circulation. |