Tag: kinross-gold

Kinross (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony (NYSE:HMY) Explode Upward on Rising Gold Prices

Kinross Gold Corp (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony Gold Mining (NYSE:HMY) are moving up in a major way in response to the explosion in gold prices and the overall response of the broader gold market.All of this is the result of the misguided move by the Federal Reserve to inflate, or as they like to describe it now: implement a new round of “quantitative easing.”Consequently the

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Eldorado (NYSE:EGO), Agnico (NYSE:AEM), Kinross (NYSE:KGC) Plunge as Gold Prices Today Fall

Kinross Gold Corporation (NYSE:KGC), Eldorado Gold (NYSE:EGO) and Agnico-Eagle (NYSE:AEM) plunged along with the broader gold market, as mixed economic data and the strength of the U.S. dollar pushed gold prices today down. Even though expectations the global and US economy is slowing down and a new round of quantitative easing is just around the corner, that didn’t keep the dollar down today or

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Kinross (NYSE:KGC) JV Partner Millrock Resources (TSE:MRO) Releases Council Gold Results

Filed in Gold, Gold Prices, kinross-gold, Millrock by on October 25, 2010 0 Comments

Drilling results by Kinross Gold’s (NYSE:KGC) joint venture partner Millrock Resources (TSE:MRO) from its Council gold project in Western Alaska have been released by the company. Millrock’s report: “At Albion, 2,062m of reverse circulation drilling in 17 holes was completed. Two holes, CNL1013 and CNL1014, intersected more than 1 g/t gold mineralization, confirming bedrock mineralization at

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Kinross (NYSE:KGC), Yamana (NYSE:AUY), NovaGold (AMEX:NG), Agnico-Eagle (NYSE:AEM) Rise on Anticipated QE

With the U.S. government finally admitting the U.S. economy is going to continue to struggle through 2011, the Federal Reserve is preparing people for their latest inflationary step (now being called quantitative easing), and gold miners like Kinross Gold Corp (NYSE:KGC), Yamana Gold (NYSE:AUY), NovaGold Resources Inc. (AMEX:NG) and Agnico-Eagle (NYSE:AEM) are all rising with the broader gold

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Gold Prices Today Explode to Record High on Weak Economic News

The price of gold today exploded to another record high as weak economic news out of Europe reinforced the extremely fragile and weak global economy. Another factor may have been the weaker U.S. dollar, but the hype of a global recovery after a couple of reports focused on by mainstream media wasn’t believed, and the pent-up fears and concerns are pouring out toward gold again; primarily being

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Top Five Russian Gold Stocks

Top Five Russian Gold Stocks

Russia is very rich in natural resources. Some estimates suggest that the total value of Russia’s natural resources exceed $200 trillion. So it’s no surprise that Russia is one of the world’s leading suppliers of gold. Russia is currently the world’s sixth-largest gold producing country with 11% of the world’s unmined gold reserves. But considering the country’s massive land expanse that covers 11 timezones, many geologists consider Russia to be the single largest unexplored gold region in the world, with large deposits only recently being discovered. Russia is the world’s top energy supplier. The country is the global leader in both crude oil and natural gas production. Russia is also the third-largest exporter of black coal, recently inking a deal to supply 475 tonnes of coal to China over the next 25 years . Estimates widely vary, but geologists estimate Russia to hold between 25% and 40% of the world’s unmined gold resources. Russia’s gold industry is highly fractured, with over 600 companies (half private) working in the sector. The country has increased total gold production 38% since the collapse of the Soviet Union in 1991. This year, Russia expects to increase gold production slightly to 6.6 million ounces. After that, experts predict the country will increase output to 7.9 million ounces by 2015. The development of large gold projects held by companies such as Kinross Gold (NYSE: KGC ) and Polyus Gold (OTCBB: OPYGY ) are projected to the main contributor to the increase in Russia gold production. Below you’ll find the top five public-traded Russian gold companies by production volume: Rank Company Exchange: Symbol¹ Share Price Market Cap Annual Russia Gold Production² Percent of Company Production Percent of Russian Production 1 Polyus Gold OTCBB: OPYGY US$26.00 US$9.9 Billion 1.26 million ounces 100% 19% 2 Kinross Gold NYSE: KGC US$16.50 US$11.6 Billion 694,000 ounces 31% 11% 3 Petropavlovsk LSE: POG £11.50 £2.2 Billion 487,000 ounces 100% 7% 4 Polymetal LSE: PMTL £14.00 £5.6 Billion 311,000 ounces 100% 5% 5 High River Gold Mines TSX: HRG C$1.00 C$800 Million 236,000 ounces 70% 4% ¹Most accessible to North American investors ²Figures from 2009 In my most recent report for Wealth Daily , I go into much more detail about Russia’s metals and mining industry and tell you how I think the best approach to investing in the country’s gold sector. You can read my report called The Definitive Guide to Russian Gold Stocks by simply clicking here . Good Investing, Luke Burgess Editor, Wealth Daily Investment Director, Hard Money Millionaire and Underground Profits Top Five Russian Gold Stocks originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Kinross (NYSE:KGC) CEO Says Tasiast Mine Production will Exceed Estimates

With the vote on whether or not Kinross Gold Corp. (NYSE:KGC) shareholders will give the go ahead for the proposed $6.6 billion acquisition of Red Back Mining Inc. (TSE:RBI), coming up, the focus is on the Tasiast mine, which will be the key to a successful transaction.Kinross Gold Corp. Chief Executive Officer Tye Burt has been out stumping for the deal to go through, saying the analysts’

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Kinross (NYSE:KGC) Selling Diavik Diamond Mine Back to Harry Winston (NYSE:HWD)

No matter how you look at it, Kinross Gold (NYSE:KGC) (TSE:K) made a super deal with Harry Winston (NYSE:HWD) for the Diavik Diamond Mine, when they acquired from them in March 2009 for $150 million, and now are turning around and selling it back to them for $220 million. Kinross, which also owns a 19.9 percent stake in Harry Winston, will sell that as well to an unnamed consortium of financial

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Stifel Nicholas Initiates Coverage on IAMGOLD (NYSE:IAG), Eldorado (NYSE:EGO), Kinross (NYSE:KGC), Others

Stifel Nicholas initiated coverage on a large number of gold mining companies today, including IAMGOLD (NYSE:IAG), Eldorado (NYSE:EGO), Kinross (NYSE:KGC), Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Osisko Mining (TSE:OSK), European Goldfields (TSE:EGU) and Newmont Mining (NYSE:NEM). Eldorado Gold, Barrick Gold, Kinross Gold and Goldcorp were all started off with “Holds” by Stifel. While

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Kinross (NYSE:KGC) , Eldorado Gold (NYSE:EGO), Iamgold (NYSE:IAG) Up As Gold Rebounds

Kinross Gold (NYSE:KGC) (TSE:K), Eldorado Gold (NYSE:EGO), Iamgold Corp. (NYSE:IAG) (TSE:IMG) are partaking in the rebound of gold after noon today in New York, as investors start to return to the metal after taking profits from last week’s two record-breaking gold price days. At 1:21 PM EDT, gold prices were at $1,240.20 an ounce, a gain of $7.60. Eldorado Gold led the gold miners today, and

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Red Back Mining (TSE:RBI) Drawing Acquisition Interest

The recent investment by Kinross Gold (NYSE: KGC) in Red Back Mining (OTC:RBIFF.PK) (TSE:RBI) has drawn the attention of industry watchers as to the possibility of Red Back being an acquisition or merger target.Red Back produced around 340,000 ounces of gold in 2009, and estimates it’ll produce about 485,000-525,000 ounces in 2010. Those production levels going forward is what makes the company

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John Paulson’s Gold Investments Mixed in 2010

Kinross Gold (NYSE:KGC), SPDR Gold Trust (NYSE:GLD) and Anglogold Ashanti (NYSE:AU) are all part of the massive gold holdings of hedge fund manager John Paulson, and so far in 2010 they haven’t done a lot to increase the value of the fund, although Anglogold and the SPDR Gold Trust have helped some over the last six months, at least generating gains during that time. Although that is the case so

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