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Kinross Gold Corporation KGC has signed an exploration and option agreement with LKA Gold Incorporated to expand the latter’s Golden Wonder Mine beyond its current operations.
Per the agreement, Kinross has received a five-year exclusive exploration opportunity from LKA Gold. If successful, Kinross can develop mineral resources containing 50,000 or more ounces of gold on LKA Gold’s properties above as well as adjoining the Golden Wonder Mine situated near Lake City, CO.
Additionally, under this agreement, LKA Gold has an option to enter into a joint venture with a 35% interest with Kinross by contributing 40.25% of Kinross’ exploration expenses. The joint venture will engage in the development of such mineral resources, if eventually found. LKA Gold's contribution will also take into account all of LKA's Golden Wonder properties if a joint venture is formed.
Over the five-year time frame, Kinross will carry out self-funded exploration, though it is not compelled to do so. On the other hand, LKA Gold will have the exclusive right to carry on exploration and development activities of any resources within a carved out area under its existing operational zone.
LKA Gold thinks that this agreement with Kinross will enable it to make many more gold discoveries than it could have, given its limited resources. Kinross being one of the world’s leading gold producers will put in its technical expertise and financial support to make the most out of this project.
Kinross currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the gold mining space include Newmont Mining Corporation NEM, Sandstorm Gold Ltd. SAND and Vista Gold Corp. VGZ, all carrying a Zacks Rank #2 (Buy).
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Kinross Gold Corporation
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PRODUCTEUR |
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CODE : K.TO |
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ISIN : CA4969024047 |
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CUSIP : 496902404 |
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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 Chili, en Equateur et in Russia. Ses principaux projets en production sont ROUND MOUNTAIN en USA, MORRO DO OURO, CRIXÁS 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 RUSSIAN MOUNTAIN, HORN MOUNTAIN et KUBAKA MINE - BIRKACHAN in Russia, AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, GIL, ENCHI et GOLDBANKS - KINROSS au Ghana, HAMMOND REEF au Canada, FRUTA DEL NORTE en Equateur 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 11,0 milliards CA$ (8,8 milliards US$, 7,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 27 octobre 2000 à 1,43 CA$, et son plus haut niveau récent le 13 décembre 2002 à 9,99 CA$. Kinross Gold possède 1 246 749 952 actions en circulation. |