Past year: ▼ 0%(23.10 – 36.99 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Nov 2010business combination● NeutralMajor
The business acquisition report for Red Back Mining, acquired 17 September 2010. Consideration was 1.778 Kinross shares plus 0.11 of a four-year warrant exercisable at US$21.30 for each Red Back share, with options exchanged at a 1.81 ratio. No cash was paid; the whole US$7.1 billion was Kinross paper.
30 Aug 2010business combination● NeutralMajor
Closed the Dvoinoye and Vodorazdelnaya purchase for US$165 million cash and about 10.56 million new Kinross shares held for four months. Dvoinoye reached commercial production in October 2013 and was sold with the rest of the Russian business in 2022. Classified as a drill result by the headline classifier; it is a completion.
3 Aug 2010business combination● NeutralMajor
Agreed to acquire Red Back Mining in a friendly all-share plan of arrangement valued at about US$7.1 billion fully diluted, a 21% premium, issuing roughly 425 million Kinross shares and 26 million warrants and leaving existing Kinross holders with about 63% of the company. Red Back brought the Tasiast mine in Mauritania and Chirano in Ghana, and Kinross said it would accelerate development at Tasiast. This is the transaction Kinross wrote US$2,937.6 million of goodwill off in 2011 and a further US$3.1 billion against Tasiast in 2012.
27 Jan 2010business combination● NeutralMajor
Agreed in principle to buy the high-grade Dvoinoye deposit and the Vodorazdelnaya property, 90km north of Kupol in Chukotka, for US$368 million comprising US$165 million cash and Kinross shares, with ore to be processed at the existing Kupol mill. Classified as a drill result by the headline classifier; it is an acquisition.
17 Dec 2008business combination● NeutralMajor
Completed the purchase of 40% of Minera Santa Rosa, owner of the Lobo-Marte project in Chile, from Anglo American for US$140 million, with the remaining 60% to come from Teck for about 5.6 million Kinross shares, roughly US$40 million net cash and a 1.75% royalty on 60% of future production. Lobo-Marte sat unbuilt until its 2020 pre-feasibility added 6.4 million ounces of reserves.
24 July 2008business combination● NeutralMajor
Agreed a friendly all-share offer for Aurelian Resources worth about US$1.2 billion, at 0.317 Kinross shares plus 0.1429 of a five-year warrant struck at US$32.00 per Aurelian share, a 63% premium. The asset is the Fruta del Norte deposit in Ecuador, which Kinross would abandon in 2013 and sell for US$240 million in 2014.
27 Feb 2007business combination● NeutralMajor
Closed the Bema acquisition, each Bema share exchanged for 0.4447 Kinross shares plus C$0.01, with Bema delisted from the TSX and NYSE. Kupol, Paracatu and Cerro Casale are now Kinross assets. Bema's management team went on to found B2Gold later that year.
6 Nov 2006business combination● NeutralMajor
Agreed to acquire Bema Gold in a US$3.1 billion all-share transaction, creating a US$7.9 billion producer with nine mines in five countries, 50 million ounces of gold reserves and resources, and 2006 output of 1.8 million gold-equivalent ounces guided to grow 56% to about 2.8 million by 2009. Bema brought Kupol in Russia, Paracatu in Brazil and a share of Cerro Casale in Chile.
1 Sept 2006business combination▲ GoodMajor
Completed the acquisition of Crown Resources and its Buckhorn deposit in Washington State, 76km by road from Kinross's Kettle River mill, expected to add about 200,000 ounces a year from late 2007. Ore trucked to an existing mill, the pattern Kinross would repeat with Dvoinoye at Kupol and Peak Gold at Fort Knox.
