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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (22932)	10/17/2010 6:42:30 PM
From: Cogito Ergo Sum	1 Recommendation Read Replies (3) \| Respond to of 48092

Kinross profit up sharply in 2010 theglobeandmail.com Kinross Gold Corp. K-T reported a second-quarter profit of $103.8-million (U.S.), up sharply from a year ago, boosted by improved margins and revenue. The gold miner said Wednesday it earned 15 cents per share for the quarter ended June 30 compared with a profit of $19.3-million, or 3 cents per share, a year ago. Sales totalled $696.6-million, up from $598.1-million. “Kinross recorded another quarter of strong financial results, with record margins and year-over-year increases in revenue, operating cash flow, and adjusted net earnings,” president and chief executive officer Tye Burt said in a statement. “We remain on target to meet our overall 2010 production and cost of sales per ounce forecast.” Attributable production totalled 538,270 gold equivalent ounces, down from 560,479 gold equivalent ounces a year ago, while the average realized price was $1,158 per ounce, up from $915. Kinross also announced Wednesday that Brant Hinze will take over as executive vice-president and chief operating officer as of Oct. 1. Mr. Hinze, who was most recently senior vice-president of North American operations, for Newmont Mining Corp., will succeed Tim Baker, whose retirement was announced earlier this year. On Monday, Kinross announced an all-stock bid for Red Back Mining Inc. RBI-T valued at $7.1-billion. Under the friendly deal, Kinross said it would pay 1.778 Kinross common shares, plus 0.110 of a Kinross common share purchase warrant for each Red Back common share it acquires. Shareholders of Vancouver-based Red Back would own about 37 per cent of the combined company. Red Back owns gold mines in West Africa – one of the most attractive gold belts in the world. Kinross will acquire the Tasiast Gold Mine in Mauritania and Chirano Gold Mine in Ghana as well as other properties in the two African countries, if the deal closes in September as planned. Kinross has mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia, employing approximately 5,500 people worldwide. © 2010 CTVglobemedia Publishing Inc. All Rights Reserved. BUT... Kinross PE 29... annual dividend .10 yield .52 John & Johnson PE 13.5 annual dividend 2.16 yield 3.39 Miles to go before we pay more...