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KINROSS GOLD CORPORATION
Place de cotation: TSX (K) 

Kinross Gold Corporation is the fourth largest North American gold producer with strong production of just under 1 million ounces per year. Low total cash costs of approximately US$200 per ounce, added with a strong balance sheet of US$94 million of cash and US$78.3 million of working capital (First Quarter 2002), make the company financially strong in this turbulent gold market. Kinross has reserves and resources totaling over 20 million ounces of gold to ensure steady growth in the future and an excellent upside potential as the gold price improves.



Kinross Gold achieves record Fourth Quarter and Full-year results Full-year revenue increases to $906 million and earnings per share to $0.47, production ahead of target and operating cash flow more than doubles  PDF

Toronto, Ontario, February 21, 2007 – Kinross Gold Corporation (TSX-K; NYSE-KGC) (“Kinross”, “Kinross Gold” or the “Company”), today announced its unaudited results for the fourth quarter and year ended December 31, 2006. (This news release contains forward looking information that is subject to risk factors and assumptions as set out in our Cautionary Statement on Forward-Looking Information located on page 11 of this news release. All dollar amounts in this release are expressed in U.S. dollars, unless otherwise noted) Highlights 
• Gold equivalent production was 362,028 ounces in the fourth quarter of 2006 and 1,476,329 ounces for the full year, both above target. 
• Revenue was $231.4 million in the fourth quarter, a 22 percent increase over the same period last year, and the average gold price realized was $615 per ounce of gold sold. Full-year revenue was a record $905.6 million, a 25 percent increase over the same period last year, and the average gold price realized was $604 per ounce of gold sold. 
• Cost of sales per ounce1 was $317 in the fourth quarter on sales of 375,684 gold equivalent ounces, and $319 for the full-year on sales of 1,510,836 gold equivalent ounces.
• Net earnings for the fourth quarter were $41.0 million or $0.11 per share (diluted), compared to a net loss of $154.3 million or $0.45 per share in the same period last year. Net earnings for the full-year were a record $165.8 million or $0.47 per share (diluted), compared with a net loss of $216.0 million in the same period last year. Net earnings in the fourth quarter were reduced by $0.01 per share (diluted) as a result of the impairment of certain long-term investments, partially offset by a gain on asset sales. 
• Cash flow from operating activities was $91.2 million in the fourth quarter and $292.0 million for the full-year compared to $23.8 million and $133.7 million for the comparable periods in 2005. The cash position was $154.1 million at December 31, 2006 compared to $97.6 million at December 31, 2005 and total debt was $89.9 million at December 31, 2006 compared to $159.3 million at December 31, 2005. • Capital expenditures were $65.3 million in the fourth quarter and $202.9 million for the full-year.
• Proven and Probable Mineral Reserves at December 31, 2006 increased by 3.1 million ounces of gold, net of 2006 production, to 27.9 million ounces, a 13 percent increase over year end 2005. These amounts do not include the effects of the Bema acquisition. 
• Production2 for 2007 is expected to be approximately 1.5 million gold equivalent ounces at a cost of sales per ounce1,2 in the range of $320 to $330. Beyond 2007, gold equivalent production2 is expected to grow to 1.6 to 1.7 million ounces in 2008 and 1.8 to 1.9 million ounces in 2009. These amounts do not include the effects of the Bema acquisition. 
• The Bema Gold acquisition will close on February 27, 2007, subject to customary closing conditions.

KINROSS AND BEMA ANNOUNCE ACQUISITION CLOSING DATE OF FEBRUARY 27, 2007 
TORONTO, Ontario and VANCOUVER, British Columbia - February 20, 2007 – Kinross Gold Corporation (“Kinross”) (TSX: K, NYSE: KGC) and Bema Gold Corporation (“Bema”) (TSX/NYSE: BGO, AIM: BAU) announced today that the closing of the acquisition of Bema has been set for February 27, 2007. Bema shareholders voted 91 per cent in favour of the transaction on January 30, 2007, and the transaction was approved by the Ontario Superior Court of Justice on January 31, 2007. In connection with anticipated completion of the transaction, Kinross has waived the condition of closing relating to the reclassification and the securing of a long term lease of Bema’s Kupol lands, having become satisfied that the remaining administrative steps to complete this process are well advanced and supported by the Russian authorities. All other regulatory approvals required for the completion of the transaction have been obtained, and subject to the remaining customary conditions of closing, the transaction will be completed on February 27, 2007. It is expected that the common shares of Kinross issuable in connection with the transaction will be listed and posted for trading on the Toronto Stock Exchange and the New York Stock Exchange on or about February 27, 2007 and that Bema common shares will be delisted from the Toronto Stock Exchange and the New York Stock Exchange on or about the close of business on February 28, 2007 and February 27, 2007, respectively. It is anticipated that the Bema warrants currently listed on the Toronto Stock Exchange will commence trading under “Kinross” at the opening of business March 1, 2007.

Kinross Sells Equity Interest in Katanga Mining Limited Toronto, Ontario - Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) announced today that it has sold its 5,751,500 shares in Katanga Mining Limited for proceeds of approximately CDN$35.9 million (CDN$6.25 per share) through a private placement.

Kinross Gold announces 45 percent revenue growth and record earnings of $65.6 million in second quarter Production on target and operating cash flow up 210 percent $470 million Paracatu expansion enhances future gold production 
Toronto, Ontario – Kinross Gold Corporation (TSX-K; NYSE-KGC) (“Kinross”, “Kinross Gold” or the “Company”), today announced its unaudited results for the three and six months ended June 30, 2006. (All dollar amounts in this press release are expressed in U.S. dollars, unless otherwise noted) Second Quarter Highlights • Kinross produced 385,514 gold equivalent ounces in the second quarter of 2006. The Company remains on track to produce approximately 1.44 million gold equivalent ounces for the year. • The Company’s revenue was $252.3 million in the second quarter, a 45 percent increase over the same period last year while realizing $625 per ounce of gold sold, an increase of 48 percent over the same period last year. The cost of sales1 of $311 per ounce on sales of 403,507 gold equivalent ounces remains on track to meet the forecast of $305 - $315 per ounce for the full year. • Kinross achieved net earnings of $65.6 million, or $0.19 per share, compared with a net loss of $16.4 million in the same period last year. These results include a $2.9 million pre-tax gain on disposal of assets in the second quarter of 2006, contributing less than $0.01 per share. • Kinross’ cash flow from operating activities in the second quarter was $94.9 million, a 210 percent increase compared to the $30.6 million generated in the second quarter of 2005. The cash position rose to $149.0 million as at June 30, 2006 compared with $84.1 million at March 31, 2006. • Kinross has further strengthened its management team with the addition of James Toccacelli as Senior Vice President, Communications. Updates • Kinross’ Board of Directors has approved an investment estimated at $470 million in its wholly owned Brazilian subsidiary’s Paracatu expansion project in Brazil, which is expected to start up in 2008. Average annual production at Paracatu is expected to be approximately 557,000 ounces of gold per year from 2009 through 2013 at an average cost of sales of approximately $230 per ounce. Proven and Probable Mineral Reserves as at December 31, 2005 were 15.2 million gold ounces.2 • As previously disclosed, the Company’s registration statement in respect of the Crown transaction was declared effective as of July 28, 2006 and a proxy statement/prospectus has been mailed to Crown shareholders. Crown will hold a shareholders meeting on August 31, 2006, where its shareholders will vote on the transaction. • As previously disclosed, Kinross undertook various divestitures of non-core assets consistent with our four-point plan including the George/Goose Lake property, the Aquarius project, the Lupin site and the Blanket mine. 1. Cost of sales per ounce is calculated by dividing cost of sales as per the financial statements by the number of gold equivalent ounces sold. 2. This news release contains forward looking information that is subject to risk factors and assumptions set out in the project summary on pages 10 & 11 and the cautionary note on page 12 of this news release.


 
 
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