Kinross Gold Stock Price, News & Analysis

Kinross Gold Corporation (NYSE:KGC) announced the completion of its sale of the Chirano mine in Ghana to Asante Gold Corporation for $225 million in cash and shares. The transaction includes $60 million in cash and 34,962,584 shares of Asante valued at $36.2 million. Kinross will receive $128.8 million in deferred payments over two years. The sale allows Kinross to focus on its North American operations, with 70% of 2022 production expected from this region. The company retains 9.9% ownership in Asante.

Kinross Gold Corporation has appointed Claude Schimper as Executive Vice-President and Chief Operating Officer, effective immediately. Schimper, with over 30 years of mining experience, previously held senior operational roles within the company. He will oversee the operational success of Kinross’ re-positioned portfolio, which now prioritizes production from the Americas. Paul Tomory, the former Chief Technical Officer, will leave the company on August 31, 2022. The changes aim to enhance operational oversight and facilitate Kinross's growth strategy, including an expected production increase and an average of two million gold ounces per year over the coming decade.

Kinross Gold Corporation (KGC) has announced the renewal of its normal course issuer bid (NCIB) program, allowing the purchase of up to 65 million shares, representing 5% of its outstanding common shares. The buyback period is from August 3, 2022, to August 2, 2023. The company believes that the market price may not fully reflect the value of its shares, making this buyback an attractive use of funds. This initiative is part of Kinross' commitment to enhance shareholder returns and is supported by its strong balance sheet and free cash flow position.

Kinross Gold Corporation (KGC) has reported robust plans for the second half of 2022, aiming to significantly boost production and free cash flow. The ongoing Manh Choh project in Alaska is expected to lower costs while increasing gold production. The company’s second-quarter results, ended June 30, 2022, highlight a strategic focus on enhancing operational efficiency and profitability. With positive market conditions, Kinross is poised for growth, strengthening its position in the gold sector.

Kinross Gold Corporation has declared a dividend of US$0.03 per common share for Q2 2022. This dividend will be paid on September 1, 2022 to shareholders on record by August 18, 2022. The dividend qualifies as an 'eligible dividend' for Canadian income tax, while non-resident shareholders will face Canadian withholding taxes. Kinross is a global senior gold mining company with operations in multiple countries including the US, Brazil, and Ghana, focusing on responsible mining and operational excellence.

Kinross Gold Corporation will release its financial statements and operating results for Q2 2022 on July 27, 2022, after market close. A conference call to discuss the results will occur on July 28, 2022, at 8:00 a.m. EDT, with participation details provided. The company operates mines and projects across the U.S., Brazil, Russia, Mauritania, Chile, and Ghana, focusing on operational excellence and responsible mining.

Kinross Gold Corporation (KGC) has provided updates on its Great Bear project in Ontario, Manh Choh project in Alaska, and Curlew exploration project in Washington State. Significant drilling progress has been made, with Great Bear on track to declare an initial resource by year-end 2022. The feasibility study for Manh Choh is nearing completion, with initial production expected in Q4 2024. Curlew's exploration is also promising, with high-grade results and new vein discoveries reported. Kinross remains focused on community engagement and environmental studies to support their projects.

Kinross Gold Corporation (NYSE:KGC) has announced a virtual review session on June 28, 2022, to discuss key projects including the Great Bear project in Ontario, Manh Choh project in Alaska, and the Curlew exploration project in Washington State. The session will begin at 9 a.m. EDT and will include presentations and a Q&A segment, accessible via www.kinross.com. Kinross, a senior gold mining firm with operations across several countries, emphasizes responsible mining and operational excellence.

On June 15, 2022, Kinross Gold Corporation (KGC) announced the successful sale of its Russian assets to Highland Gold Mining for $340 million. The transaction concluded with Kinross receiving $300 million in cash, alongside a deferred $40 million payment due in one year. Originally valued at $680 million, the sale price was reduced following a review by Russian authorities. With this divestment, Kinross has eliminated its Russian interests and liabilities, focusing on its tier one assets in the Americas and the Great Bear project in Canada, marking a significant portfolio rebalancing.