Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (89702)	4/4/2001 5:21:34 PM
From: ldo79	Read Replies (2) of 95453

SOB - this should go to the GPM group, but can't resist. Don't see too many of our fav. techs reporting this lately: TORONTO, April 4 /PRNewswire/ - Kinross Gold Corporation (TSE - K; NYSE - KGC) announced today that its 100% owned subsidiary, Fairbanks Gold Mining Inc. (FGMI), made a voluntary early prepayment of $22 million on the tax exempt Industrial Revenue Bonds. Originally FGMI had drawn $71 million against this facility and this is the first principal repayment that has been made with regard to this debt facility. The Industrial Revenue Bonds are issued under the State of Alaska tax exempt bond facility. The proceeds of the bonds were used to finance solid waste disposal facilities at the Fort Knox mine in Fairbanks Alaska. ``This is just another way for us at Kinross to show our commitment to reducing debt'' said Bob Buchan, Chairman and CEO ``This is a step in the process of restructuring the balance sheet. Kinross will continue to investigate other options to further strengthen our ability to enhance shareholder value.'' biz.yahoo.com Regards, ldo79

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