Increased production at Tasiast, Paracatu, and La Coipa drives robust free cash flow
Tasiast 24k construction and initial commissioning complete leading to record quarterly productionJ. Paul Rollinson, President and CEO, made the following comments in relation to 2023 second-quarter results:Hole ID(m)(m)(m)Width (m)(g/t)TargetThe following section of the news release represents forward-looking information and users are cautioned that actual results may vary. We refer to the risks and assumptions contained in the Cautionary Statement on Forward-Looking Information on page 26.Outside of Canada & USOutside of Canada & USSenior Director, Corporate Communicationsphone: 647-788-4153
[email protected]Vice-President, Investor Relations
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1 “Production cost of sales from continuing operations per equivalent ounce sold” is defined as production cost of sales, as reported on the interim condensed consolidated statements of operations, divided by total gold equivalent ounces sold from continuing operations.23 “Margins” from continuing operations per equivalent ounce sold is defined as average realized gold price per ounce from continuing operations less production cost of sales from continuing operations per equivalent ounce sold.4 Operating cash flow figures in this release represent “Net cash flow of continuing operations provided from operating activities,” as reported on the interim condensed consolidated statements of cash flows.56 Adjusted net earnings figures in this news release represent “Adjusted net earnings from continuing operations attributable to common shareholders.”7 “Total liquidity” is defined as the sum of8 “Available credit” is defined as available credit under the Company’s credit facilities and is calculated in Section 6 – Liquidity and Capital Resources of Kinross’ MD&A for the three and six months ended June 30, 2023.9 Attributable production guidance includes Kinross’ share of Manh Choh (70%) production.10 Attributable capital expenditure guidance includes Kinross’ share of Manh Choh (70%) capital expenditures.11 Refers to all of the currencies in the countries where the Company has mining operations, fluctuating simultaneously by 10% in the same direction, either appreciating or depreciating, taking into consideration the impact of hedging and the weighting of each currency within our consolidated cost structure.
(GlobeNewsWire)