Wednesday, September 9, 2015

Kinross Gold Corporation - K.t

Kinross Gold Corporation - K.t is a global gold producer from ten mines located in South America, North America, West Africa and Russia.

Kinross Gold Corporation ranks seventh in the list of largest gold companies.




On July 29, 2015 the company released Numbers

Kinross Gold Corporation (TSX: K, NYSE: KGC) today announced its results for the second quarter ended June 30, 2015.

2015 second quarter highlights:

◾Production1: 660,898 gold equivalent ounces (Au eq. oz.), compared with 679,831 ounces in Q2 2014.
◾Revenue: $755.2 million, compared with $911.9 million in Q2 2014.
◾Production cost of sales2: $724 per Au eq. oz., compared with $742 in Q2 2014.
◾All-in sustaining cost2: $1,011 per Au eq. oz. sold, compared with $976 in Q2 2014. All-in sustaining cost per gold ounce (Au oz.) sold on a by-product basis was $1,006 in Q2 2015, compared with $967 in Q2 2014.
◾Adjusted operating cash flow2: $161.4 million, or $0.14 per share, compared with $240.3 million, or $0.21 per share, in Q2 2014.
◾Adjusted net earnings/loss2,3: Loss of $13.6 million, or $0.01 per share, compared with adjusted earnings of $32.9 million, or $0.03 per share, in Q2 2014.
◾Reported net earnings/loss3: Loss of $83.2 million, or $0.07 per share, compared with earnings of $46.0 million, or $0.04 per share, in Q2 2014.
◾Balance sheet strength: Increased cash and cash equivalents to $1,031.4 million decreased net debt4 to $960.2 million, $250 million in senior notes due in 2016 only significant debt maturity until 2019.
◾Average realized gold price: $1,194 per ounce, compared with $1,285 per ounce in Q2 2014.
◾Outlook: Kinross is tracking at the high end of 2015 guidance for production (2.4 - 2.6 million Au eq. oz.), at the low end of guidance for production cost of sales ($720 - $780 per Au eq. oz.) and all-in sustaining cost ($1,000 - $1,100 per Au eq. oz.), and below total capital expenditure guidance ($725 million).
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