Teryl Resources Corp. Received A Letter Of Intent To Acquire Its 20% Interest In The Gil Joint Venture Gold Property From Kinross Gold Corporation's Fairbanks Gold Mining Inc.
November 17, 2009 |
| Teryl Resources Corp. announced that Teryl Inc., 100% Subsidiary of Teryl Resources Corp., has received a letter of intent for the acquisition of its interest in the Gil Joint Venture Gold Property in Alaska, from its Joint Venture Partner, Fairbanks Gold Mining Inc., a subsidiary of Kinross Gold Corporation. The company's Board of Directors will review the offer which could lead to a fairness opinion to determine if the offer is acceptable. |
Kinross Gold Corporation Announces USD125 Million Letter of Credit Guarantee Facility
November 11, 2009 |
| Kinross Gold Corporation announced that it has entered into an agreement with Export Development Canada (EDC) to have EDC guarantee a Letter of Credit Facility for up to USD125 million. Letters of credit guaranteed under this new facility are expected to be available in respect of reclamation liabilities at Fort Knox, Round Mountain, and Kettle River-Buckhorn mine sites. The new facility will expire in November 2012. The guarantee facility is in addition to the Company's recently amended USD450 million revolving credit facility. |
Kinross Gold Corporation Announces Unsecured USD450 Million Credit Facility
November 5, 2009 |
| Kinross Gold Corporation announced that it has entered into an amended revolving credit facility which includes an increase of available credit to USD450 million, on an unsecured basis, from USD404 million under its previous secured facility. The new facility will expire in November of 2012. The term loan for the Paracatu property forms part of the revolving credit facility, and that credit will be available to the Company as the term loan is repaid. The new credit agreement was led and arranged by Scotia Capital and by Bank of America Merrill Lynch. |
Jaguar Mining Inc. To Purchase Gurupi Gold Property In Brazil From Kinross Gold Corporation For USD39 Million
November 2, 2009 |
| Jaguar Mining Inc. announced that it has entered into a definitive agreement to acquire MCT Mineracão Ltda. (MCT), an indirect, wholly-owned subsidiary of Kinross Gold Corporation, for USD39 million. MCT holds all of the mineral licenses for the Gurupi Project located in the state of Maranhao, Brazil. No commercial production of gold has taken place on the Gurupi property. In addition, Kinross has granted a right of first refusal to Jaguar on an adjacent exploration property. The USD39 million purchase price is payable in Jaguar common shares based on the weighted average price of Jaguar's common shares on the New York Stock Exchange for the five days preceding the closing date. Pursuant to the terms of the definitive agreement, if the acquisition were to result in Jaguar issuing greater than 5% of its outstanding shares as of closing to Kinross, then Jaguar would have the option to pay in that number of common shares equal to 5% of Jaguar's outstanding shares plus an amount payable in cash to total USD39 million. Closing of the transaction is expected to occur in early December 2009. |
Kinross Gold Corporation Revises FY 2009 Production Outlook
November 2, 2009 |
| Kinross Gold Corporation announced that for fiscal 2009, it has revised its production guidance and expects to produce approximately 2.2 million gold equivalent ounces, primarily due to lower than expected production at the Paracatu expansion. On a by-product accounting basis, the Company expects to produce 2.1 million ounces of gold and 12 million ounces of silver. |
Kinross Gold Corporation Lowers FY 2009 Production Guidance
October 26, 2009 |
| Kinross Gold Corporation revised its overall guidance for fiscal 2009 and now expects to produce approximately 2.2 million gold equivalent ounces at an average cost of sales per ounce of $435-$450, due to reduced Brazil production forecast. |
Recent News