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Kinross Gold Corporation KGC has signed an exploration and option agreement with LKA Gold Incorporated to expand the latter’s Golden Wonder Mine beyond its current operations.
Per the agreement, Kinross has received a five-year exclusive exploration opportunity from LKA Gold. If successful, Kinross can develop mineral resources containing 50,000 or more ounces of gold on LKA Gold’s properties above as well as adjoining the Golden Wonder Mine situated near Lake City, CO.
Additionally, under this agreement, LKA Gold has an option to enter into a joint venture with a 35% interest with Kinross by contributing 40.25% of Kinross’ exploration expenses. The joint venture will engage in the development of such mineral resources, if eventually found. LKA Gold's contribution will also take into account all of LKA's Golden Wonder properties if a joint venture is formed.
Over the five-year time frame, Kinross will carry out self-funded exploration, though it is not compelled to do so. On the other hand, LKA Gold will have the exclusive right to carry on exploration and development activities of any resources within a carved out area under its existing operational zone.
LKA Gold thinks that this agreement with Kinross will enable it to make many more gold discoveries than it could have, given its limited resources. Kinross being one of the world’s leading gold producers will put in its technical expertise and financial support to make the most out of this project.
Kinross currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the gold mining space include Newmont Mining Corporation NEM, Sandstorm Gold Ltd. SAND and Vista Gold Corp. VGZ, all carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NEWMONT MINING (NEM): Free Stock Analysis Report KINROSS GOLD (KGC): Free Stock Analysis Report SANDSTORM GOLD (SAND): Free Stock Analysis Report VISTA GOLD CORP (VGZ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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PRODUCER |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinross Gold is a gold producing company based in Canada. Kinross Gold produces gold, silver in Brazil, in Canada, in Chile, in Ghana, in Mauritania, in Russia and in USA, develops copper, gold and silver in Chile, and holds various exploration projects in Canada, in Chile and in Russia. Its main assets in production are ROUND MOUNTAIN in USA, CRIXÁS, MORRO DO OURO and PARACATU in Brazil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA and LA COIPA in Chile, PORCUPINE and MUSSELWHITE in Canada, CHIRANO in Ghana, TASIAST in Mauritania and KUPOL in Russia, its main assets in development are KETTLE RIVER, GOLD HILL and CERRO CASALE in Chile and its main exploration properties are AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI and GOLDBANKS - KINROSS in Ghana, FRUTA DEL NORTE in Ecuador, HAMMOND REEF in Canada, KUBAKA MINE - BIRKACHAN in Russia and LOBO-MARTE in Chile. Kinross Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is 643.3 millions as of today (US$ 468.1 millions, € 427.7 millions). Its stock quote reached its lowest recent point on October 27, 2000 at 1.43, and its highest recent level on October 10, 2024 at 13.56. Kinross Gold has 47 442 200 shares outstanding. |