Kinross announced today the results for the three and six months ended June 30, 2001
Toronto, Ontario -- Kinross Gold Corporation (TSE-K; AMEX-KGC) announced today the results for the three and six months ended June 30, 2001 are as follows:
Second Quarter
The Company's share of attributable gold equivalent production
of 233,722 ounces at total cash costs of $191 per ounce during the
second quarter of 2001 resulted in higher cash flow provided from
operations, when compared to the second quarter of 2000. Cash flow
provided from operations for the second quarter was $15.3 million
or $0.05 per share, compared to $10.0 million or $0.03 per share
for the three months ended June 30, 2000. Increased attributable
gold equivalent production at significantly lower total cash costs
per ounce more than compensated for a $14 per ounce decrease in
average realized prices for the quarter. The net loss for the
second quarter of 2001 was $6.0 million or
$0.03 per share compared to $10.8 million or $0.04 per share for
the second quarter of 2000.
First Half
The Company's share of attributable gold equivalent production
during the first half increased by 2% to 473,074 and total cash
costs per ounce of gold equivalent decreased by 11% to $191. The
improved production resulted in cash flow provided from operations
for the first half of 2001 of $28.9 million or
$0.10 per share, compared to $22.0 million or $0.07 per share for
the first six months of 2000. The net loss for the first six months
of 2001 was $10.9 million or $0.05 per share compared to $18.6
million or $0.07 per share for the first half of 2000.The Company's
share of attributable gold equivalent production during the first
half increased by 2% to 473,074 and total cash costs per ounce of
gold equivalent decreased by 11% to $191. The improved production
resulted in cash flow provided from operations for the first half
of 2001 of $28.9 million or
$0.10 per share, compared to $22.0 million or $0.07 per share for
the first six months of 2000. The net loss for the first six months
of 2001 was $10.9 million or $0.05 per share compared to $18.6
million or $0.07 per share for the first half of 2000.
Cautionary Statement on Forward-Looking Information
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
