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Gold/Mining/Energy : Kinross Gold

KGC 28.35

+0.7%

Dec 1 3:59 PM EST

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To: Anthony Wong who wrote (138)	4/5/1998 9:26:00 PM
From: cruncher	Read Replies (1) of 530

Anthony: Kinross has come a long way in this recent downturn. I listened to the CEO of Kinross on CNBC a few months ago and found the company quite interesting. Points that he made with the acquistion of Amax Gold was as follows. Kinross had one of the best balance sheets for a gold company. With the acquisition they had three of the lowest cost producing mines. They had bought back all of their hedges at $280 for a profit of around 22 million. At 280 dollars a ounce they would still be cash flowing about a 100 million a year. Tomorrow I am going to see if somebody in their IR would confirm some of these numbers. My opinion if gold continues Kinross could go through it's old highs but that is only if gold continues! regards cruncher

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