Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX
Sector: Gold Mining
Epic: TSX:K
News: Latest news
Web Site: Kinross Gold Corp
Other Articles: 18-02-201029-01-201021-01-2010

RSS - Subscribe to the News Today on Proactive UK ▼

Saturday March 13, 09:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Friday March 12, 01:39Circadian Technologies to present at Ultimate Healthcare & Biotechnology Event, March 24

Robert Klupacs, CEO of Circadian Technologies, recommended by US Investment Bank Merriman Curhan Ford, as "the Cheapest Little Antibody Company on the Planet" will present in Sydney.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Friday March 12, 08:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

FULL ARTICLE ►
Kinross Gold Corp

Kinross Gold Corp

Kinross Gold Corporation was established in 1993 and has since grown to become the third largest primary gold producer in North America by reserves.  Based in Canada, with nine mines in stable countries including the United States, Brazil, Chile and Russia, Kinross employs more than 5,000 people worldwide
Thursday, January 21, 2010

Kinross Gold shells out $368 million in cash and shares for two gold projects in Russia

company news image

By Dorothy Kosich, Mineweb.com

Kinross announced Wednesday that the gold miner has "agreed in principle" to acquire the Dvoinoye deposit and the Vodorazdelnaya property for US$368 million cash and shares deal.

Both Dvoinoye and Vodorazdelnaya are located 90 kilometers north of Kinross' Kupol operation.

Dvoinoye is also an open pit mine, which the owner has operated for six months annually with a throughput of 250 tpd. Kinross plans to expand the operation as a larger underground mine and transport the ore to the Kupol mill.

The Vodorazdelnaya property comprises 922 square kilometers including an exploration and mining license.

In a statement, Kinross CEO Tye Burt said, "This acquisition is a valuable addition to a world-class asset, which will allow us to bring additional high-grade resources to existing facilities. It also gives us additional opportunities for exploration in a highly prospective and mining-friendly district where we have operated for a number of years."

The transaction involves the indirect acquisition of 100% of the participatory interests in Northern Gold LLC and Regionruda LLC, the owners of the Dvoinoye and Vodorazdelnaya exploration and mining licenses. Northern Gold said it has completed a 30,000 meter infill drilling campaign last year and has submitted an update reserve to Russian authorities.

Kinross plans to complete the necessary additional work to report a Canadian National Instrument 43-101 compliant resource estimate for Dvoinoye this year. After the deal closes, Kinross intends to begin permitting and feasibility work including engineering and baseline studies.

The deal requires Kinross to pay US$165 million in cash and issue 10.56 million new Kinross shares with a market value of US$203 million.

AddThis Feed Button
Register here to be notified of future Kinross Gold Corp articles.

Other Kinross Gold Corp articles


Other Kinross Gold Corp news

More news ►

Investors interested in Kinross Gold Corp recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.