RE:RE:RE:Anybody Notice The Name Kinross Scorpio's Manhattan asset was divested by Kinross last year. The asset where Scorpio just drilled. They own a tiny insignificant share in Scorpio as part of that deal but are likely watching this company. although the drill results were poor, I believe it confirmed the areas where Kinross suspected had no gold based on comparing Scorpio's drill map and Kinross' block shell model. Scorpio was going for upside to the Kinross' ~ +300,000 oz identified around the existing two pits at Manhattan (non 43-101). Scorpio hit good grade in the Kinross confirmed areas. Kinross still has leverage on this asset and their giant Round Mountain mine to the north is dropping in production quickly. It's already lost half its production in the last 8 years. I think within the next 2 years could see them drop below 200,000 oz/yr. This use to produce ~500k oz/yr when they had Barrick as their partner. They need ounces so we'll see how this materializes. Within 1 month after they divested this asset to Scorpio, news reports showed rumours of Kinross looking to divest their North American assets & focus on their Russian asset. CEO denied it tho. Just recently they signed agreement to clear all their cash and credit for Great Bear ($1.8 billion CDN) so Kinross is one I'm watching closely.
I really wouldnt want to see a JV because it takes away the companies upside. It's essentially giving it away for free. They JV'd Mineral Ridge last year and the big shareholders were very pissed.