Fri, Sep 19, 2014, 6:24 AM EDT - U.S. Markets open in 3 hrs 6 mins

Recent

% | $
Quotes you view appear here for quick access.

Kinross Gold Corporation Message Board

  • goldbull123 goldbull123 Sep 16, 2005 6:33 PM Flag

    The reson for the volume

    Newmond sold its 4% stake in Kinross.

    I would think that it is a good news.

    This removes the overhang that everyone worries about.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Newmont sells Kinross stake for about C$140 mln
      Fri Sep 16, 2005 06:07 PM ET
      VANCOUVER, British Columbia, Sept 16 (Reuters) - Newmont Mining Corp. (NEM.N: Quote, Profile, Research) sold its 4.4 percent stake in Kinross Gold Corp. (K.TO: Quote, Profile, Research) on Friday, a Kinross spokesman said. Christopher Hill said it was his understanding that Newmont offloaded its 15.23 million shares in the Toronto-based miner through two block trades on the Toronto Stock Exchange at a price of C$9.15 a share.

      That values the transaction at C$139 million ($118 million).

      Newmont was not immediately available for comment.

      Shares in Kinross, the world's No. 7 gold miner, closed unchanged at C$9.08 on the Toronto market on Friday. Some 21.6 million of its shares changed hands during the session.

      Newmont, the world's biggest gold miner, acquired a 14 percent stake in Kinross in 2003 when the Canadian miner bought stakes in Echo Bay Mines and TVX Gold from Denver-based Newmont in exchange for Kinross shares.

      Newmont had already sold about two-thirds of the stake.

 
KGC
3.64-0.05(-1.36%)Sep 18 4:01 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.