Kinross and others have to replace productionDJ Kinross Gold Ups Cumberland Resources Stake To 14.1% >CLG
WASHINGTON, Oct 26, 2004 (ODJ Select via COMTEX) --
(Dow Jones)--Kinross Gold Corp. (KGC) increased its stake in Cumberland Resources Ltd. (CLG) to 14.1%, according to an amended Schedule 13D filed Tuesday with the Securities and Exchange Commission.
Kinross Gold beneficially owns 7,629,900 common shares. It purchased 699,600 shares between Aug. 30 and Oct. 19 for $2 to $2.20 a share, the filing said.
On Aug. 5, Kinross Gold reported an 11.4% stake.
The mineral exploration and development company's shares were recently trading at $1.75 each.