We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kinross Provides Updated Estimates for Round Mountain Reserve
Read MoreHide Full Article
Kinross Gold Corporation (KGC - Free Report) recently provided an update for the Round Mountain mineral reserve and resource estimates. The updates were the result of earlier omission of stockpile information in the previous mineral reserve estimates.
Considering the results of the feasibility study for Round Mountain Phase W, estimated proven and probable mineral reserves at Round Mountain rose from 1.3 million gold equivalent ounces (as of Dec 31, 2016) to 3.1 million gold ounces, net of depletion. Roughly 2 million gold equivalent ounces were converted from indicated mineral resources to reserves and the corresponding decrease was mostly offset by addition of new indicated mineral reserves of 1.96 million gold ounces.
Kinross, in its second-quarter 2017 earnings call, reaffirmed its previous gold production guidance for 2017 in range of 2.5-2.7 million gold equivalent ounces. The overall production cost of sales is expected in the range of $660-$720 per gold equivalent ounce, while all-in sustaining cost is estimated to be $925-$1,025.
Kinross, which is a prominent gold mining company along with Barrick Gold Corporation , Newmont Mining Corporation (NEM - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) , is making steady progress in advancing the projects that will provide it with a strong growth profile among leading gold producers. The company also remains focused on managing costs and improving cash flows.
Kinross recently announced that it will proceed with the Phase Two expansion of Tasiast mine, Mauritania. The move is expected to transform Tasiast into a large, world-class mine with low-cost operations. It also announced plans to proceed with the Round Mountain Phase W project in Nevada. The project is awaiting completion of the permitting process and is on schedule.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Kinross Provides Updated Estimates for Round Mountain Reserve
Kinross Gold Corporation (KGC - Free Report) recently provided an update for the Round Mountain mineral reserve and resource estimates. The updates were the result of earlier omission of stockpile information in the previous mineral reserve estimates.
Considering the results of the feasibility study for Round Mountain Phase W, estimated proven and probable mineral reserves at Round Mountain rose from 1.3 million gold equivalent ounces (as of Dec 31, 2016) to 3.1 million gold ounces, net of depletion. Roughly 2 million gold equivalent ounces were converted from indicated mineral resources to reserves and the corresponding decrease was mostly offset by addition of new indicated mineral reserves of 1.96 million gold ounces.
Kinross, in its second-quarter 2017 earnings call, reaffirmed its previous gold production guidance for 2017 in range of 2.5-2.7 million gold equivalent ounces. The overall production cost of sales is expected in the range of $660-$720 per gold equivalent ounce, while all-in sustaining cost is estimated to be $925-$1,025.
Kinross, which is a prominent gold mining company along with Barrick Gold Corporation , Newmont Mining Corporation (NEM - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) , is making steady progress in advancing the projects that will provide it with a strong growth profile among leading gold producers. The company also remains focused on managing costs and improving cash flows.
Kinross recently announced that it will proceed with the Phase Two expansion of Tasiast mine, Mauritania. The move is expected to transform Tasiast into a large, world-class mine with low-cost operations. It also announced plans to proceed with the Round Mountain Phase W project in Nevada. The project is awaiting completion of the permitting process and is on schedule.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>