Solid 1Q Overshadowed by Fears of African Government Renegotiation as Kinross Shares Fall
Operationally, Kinross began 2018 with solid performance. The company produced 653,937 ounces, down about 3% from the prior-year quarter. However, this slight decline in volume was more than offset by a 9% higher gold price and 6% decline in cost of sales to $644 per ounce. Lower sustaining capital expenditures also drove all-in sustaining cost, or AISC, to $835 per ounce, 12% lower than the prior-year quarter. In all, this led free cash flow in the quarter to grow by 61% year over year to nearl...Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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