KINROSS GOLD CORP (NYSE:KGC/TORONTO:K)
FOLLOW-UP NO 6 / July 15, 2005
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ONE OF THE TEN LARGEST GOLD PRODUCERS IN THE WORLD
Business Summary
Incorporated in 1993, Kinross has grown from a junior gold producer to become the seventh largest primary gold producer in the world with approximately 1.6 million ounces of annual gold equivalent production.
Kinross has varying interests in 11 operating mines on four continents and a robust pipeline of advanced exploration and development projects. Approximately 50% of the production is in the US and over three-quarters in North America.
This largely North American presence provides Kinross with a stable base for the global portfolio of mines.
Since completion of the merger with TVX and Echo Bay on January 31, 2003, which vaulted the company into the ranks of the senior producers, Kinross has successfully increased its reserve base from 13.2 million ounces at the end of 2002 to 19.4 at the end of 2004 through exploration and acquisitions.
Kinross management is dedicated to being world class.
Recent News: Kinross delays filing of financial statements (KGC)
Kinross Gold Corp. said it will delay the filing of its financial statements as it continues to review the accounting treatment associated with the TVX Gold/Echo Bay merger.
Fundamental Considerations: Exploration and Development
Kinross has been very successful in the past years in replacing mined reserves and expects to be able to continue on this path as exploration activities form an integral component of Kinross' growth strategy.
The Company is focused on not only replacing reserves consumed by annual production but also on expanding its reserve base at its existing operations.
Technical Considerations
The gold price is firmly entrenched on its way towards $ 500 and more.
With daily volume well over 1,3 million shares on the NYSE and 2 million shares on the Toronto Stock exchange, this company cannot be ignored by institutions wanting to participate in the current bull market in precious metals.
Peter Zihlmann
www.pzim.com
www.timeless-gold.com
investment@pzim.com
forex@pzim.com
July 15, 2005
Disclosure: The author has not been paid to write this article, nor has he
received any other inducement to do so. The author is a shareholder in the
company and will benefit from any increase in the company's share price.
Disclaimer: The author's objective in writing this article is to invoke an
interest on the part of potential investors in this stock to the point where
they are encouraged to conduct their own further diligent research. Neither
the information, nor the opinions expressed should be construed as a
solicitation to buy or sell this stock. Investors are recommended to obtain
the advice of a qualified investment advisor before entering into any transactions
in the stock.
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