Should be good news todayFrom last NR:
"We will however release our year-end reserves and certain operating statistics on February 15, 2005."
Reserves will have jumped from 14 to at least 18 Million ounces. Hoping to see 20. Will mean rserve life increase from 8 to at least 10 years. Likely will see 11 years. This is a huge increase. Growth from Gurupi and Paracatu. Further growth in 2005 will include Crown Resources which is getting back on track. This alone will help to remove one of Kinross' biggest question marks. Lack of reserve life has always been an issue. Was the lowest of the majors. Now it moves to middle of the pack or better. Should reflect positively on share price over next few weeks/months as issues around goodwill and management get resolved. Also will increase attractiveness as a possible takeover candidate.
Operating statistics will likely show increased revenue and increase cash costs associated with higher energy costs. Cash costs will be about $235 - $240. Will have produced about 1.7 Million ounces for the year. look for capital costs of $160-$170 Million.
Generally a good news story today.