Kinross Gold meldet Ergebnisse für Q2/18
2018 second-quarter highlights: - Production1: 602,049 gold equivalent ounces (Au eq. oz.), compared with 694,874 Au eq. oz. in Q2 2017.
- Revenue: $775.0 million, compared with $868.6 million in Q2 2017.
- Production cost of sales2: $767 per Au eq. oz., compared with $660 in Q2 2017.
- All-in sustaining cost2: $1,018 per Au eq. oz. sold, compared with $910 in Q2 2017. All-in sustaining cost per gold ounce (Au oz.) sold on a by-product basis was $1,011 in Q2 2018, compared with $901 in Q2 2017.
- Operating cash flow: $184.5 million, compared with $179.7 million in Q2 2017.
- Adjusted operating cash flow2: $231.5 million, compared with $230.8 million in Q2 2017.
- Reported net earnings3: $2.4 million, or $0.00 per share, compared with net earnings of $33.1 million, or $0.03 per share, in Q2 2017.
- Adjusted net earnings2,3: $37.8 million, or $0.03 per share, compared with adjusted net earnings of $54.9 million, or $0.04 per share, in Q2 2017.
- Organic projects and development opportunities:
- Tasiast Phase One construction is now complete, first ore has gone through the SAG mill, commissioning is in the final stages, and the project has been transferred to Operations.
- Kinross is pausing Phase Two activities and is analyzing alternative throughput expansion options at Tasiast as it continues to engage with the Government of Mauritania regarding its activities in the country. The Company remains committed to disciplined capital allocation as it seeks additional clarity on the matter.
- The Round Mountain Phase W project is progressing well and on budget, with pre-stripping commencing and good progress being made on the new heap leach area. Initial ore is expected mid-2019.
- Development of the Fort Knox Gilmore project in Alaska has commenced, and early works on the new heap leach pad have been initiated. Initial production is expected in early 2020.
- The Bald Mountain Vantage Complex project is proceeding on schedule and on budget, with construction well underway. Commissioning of the heap leach pad and processing facilities are on schedule to commence in Q1 2019.
- In Russia, the Moroshka project located near Kupol is on schedule to begin stoping high-grade ore in early Q4 2018.
- A feasibility study has been initiated at the La Coipa Restart project, along with a scoping study at the nearby Lobo Marte project, to evaluate the potential for a return to production in Chile.
- Outlook unchanged: Kinross expects to produce 2.5 million Au eq. oz. (+/- 5%) at a production cost of sales per Au eq. oz. of $730 (+/- 5%) and all-in sustaining cost of $975 (+/- 5%) per ounce sold on both a gold equivalent and by-product basis for 2018. Total capital expenditures are forecast to be approximately $1,075 million (+/- 5%).
- Balance sheet: As of June 30, 2018, Kinross had cash and cash equivalents of $918.7 million and available credit of $1,566.4 million, for total liquidity of approximately $2.5 billion, and no debt maturities until 2021.
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