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Gold/Mining/Energy : AREA PLAY-Carlin/Battle Mountain Trend
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To: J.E.Currie who wrote (24)12/7/1998 10:37:00 PM
From: J.E.Currie  Read Replies (1) of 49
 
How can Mirandor's MIQ.M jv partner Kinross decide gold at $325.oo

Kinross said its accountants are working on the assumption of a gold price of $325 US an ounce -- more than $30 above the spot-price close Monday

Kinross Gold writes off $216 million

TORONTO (CP) -- Kinross Gold Corp. is taking a charge of $216.1 million
US against fourth-quarter results.
The writedown follows "a careful review of the carrying values of certain
assets in the continuing low gold price environment," the company said in a
news release late Monday.
"The writedown consists of $104.6 million of excess costs resulting from the
merger with Amax Gold Inc., $46.9 million on the historical carrying value of
the Refugio mine, $40.5 million on the historical carrying value of the Fort
Knox mine and the balance on other non-core assets."
Kinross said its accountants are working on the assumption of a gold price of
$325 US an ounce -- more than $30 above the spot-price close Monday in
New York.
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