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Thursday, 2nd August 2007 (3604 views)

Mineral exploration company Kinross Gold has reported strong results in the second quarter of 2007.

According to the gold miner, revenue for the period was $290.1 million (£145 million), reflecting an increase of 15 per cent on the same period last year.

Production in the second three months of the year for Kinross was 439,783 equivalent ounces of gold – 14 per cent more than production from the second quarter of 2006.

Furthermore, Kinross claims that it is on track to meet its full-year guidance for 2007 of roughly 1.65 million equivalent ounces of gold.

"We are pleased to record another excellent quarter, consistent with our previous guidance for 2007. We continue to get strong production from our operations, and with the Bema acquisition complete, we are firing on all cylinders and striving to maximize production and margins in a strong gold market," commented Kinross president Tye Burt.

Mr Burt claims that Kinross has a "great portfolio" of existing mines and "excellent" prospects for future development and is positioned in the "sweet spot" of the gold industry.

 

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