CAPITAL MARKETS

Kinross Gold turns 25

Kinross Gold (TSX: K) independent chairman John Oliver has said he is confident about the miner’s bright future ahead of its June 3 milestone, which marks 25 years since the company debuted on the Toronto Stock Exchange.

Staff reporter
Company looks to "bright future"

Company looks to "bright future"

In its first year, the miner produced 83,466 gold-equivalent ounces, had revenues of US$41.5 million and an average realised gold price of $389 an ounce.

By comparison, it produced a record 2.79Moz AuEq in 2016, had revenues of $3.5 billion and an average realised gold price of $1,249/oz.

Oliver has been with the company for 23 years and said he had seen Kinross evolve into one of the leading gold mining companies in the world.

"We have exciting organic opportunities on the horizon and are in a strong financial position to capitalise on promising opportunities," he said on the company's microsite dedicated to celebrating the milestone.

Its shares were trading above C$20 10 years ago and slid close to $2 in 2015 during the mining industry downturn.

Over the past year, Kinross shares have ranged between $6.29-$4.44 and last traded at $4.70, capitalising it at $5.87 billion.

Meanwhile, the gold price has pushed back through the $1,300/oz mark since yesterday as uncertainty continues following the Italian elections.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.