Company on track to meet annual guidance
Tasiast achieves record quarterly production and delivers strong free cash flow
Phase S supports production at Round Mountain through end of decadeJ. Paul Rollinson, President and CEO, made the following comments in relation to 2023 third-quarter results:See Appendix A for full results.(m)(m)(m)Width (m)(g/t)Average gold priceThe combination of the optimization results and extensive technical diligence completed over the last year on Phase S provides confidence in strong returns and margins while proceeding with this next phase of mine life at Round Mountain.The 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 29.Outside of Canada & USOutside of Canada & USSenior Director, Corporate Communicationsphone: 647-788-4153
[email protected]Vice-President, Investor Relationsphone: 416-365-2761
[email protected]
Processed (Milled)Processed (Heap Leach)except per share amounts)Adjusted operating cash flow from continuing operationsProduction cost of sales from continuing operations per ounce sold on a by-product basisexcept ounces and production cost of sales per equivalent ounce)except ounces and costs per ounce)except ounces and costs per ounce)(m)(m)(m)Width (m)(g/t)
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 Total working capital changes is defined as the sum of the changes in operating assets and liabilities, including income taxes paid, as reported on the interim condensed consolidated statements of cash flows (as shown in the adjusted operating cash flow from continuing operations reconciliation table on page 18 of this news release).9 “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 nine months ended September 30, 2023.
1011 Economics at $1,850/oz Au; $23/oz Ag; $85/bbl oil.
(GlobeNewsWire)