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Kinross Gold Corporation Message Board

  • joebelly666 joebelly666 Mar 30, 2006 4:34 PM Flag

    Worst Management to Ever Run a Gold PM?


    The Qtr reported this AM and the way it was reported were amazingly bad. This CEO has no regard for shareholders whatsoever! No advance notice (only the evening before the morning release), no warning on big charges that they had known about for months; and to top it off, althought they said they would post a link to their website for the conference (as is standard in the market), when I went there, there was no link. Either gross incompentence or callous disregard for shareholders. I sold my shares today at $11.03 right before the close at a profit (which would have been alot better had I picked GG or BGO a few months ago vs. KGC). Gold is going up long-term, but KGC is not the PM to stick with. I like GG much better. I cannot beleive the CEO of KGC has not been fired. With gold this high, his accounting fiascos have really held the company back. Amazing! Enough venting. Hope you all sell and pick a better PM to be in. Buyout is their only hope with this management! However, as screwed up as their books have been, I wonder whether anyone would buy KGC. JB

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    • Interesting, you think its the worst managment and out come the financials and the stock is heading higher. If this is the worst and they are in the top 10 producers, can you list in order your best picks, and show us the comparison charts? Hate to get practical, but in the end its the results from when a person buys a stock that counts for them. History may tell us something, but results and stock performance are what it all gets down to, and applies from when one is positioned. For me, its been good, on track with my expectation, and thats what I look for. So you should go where you like managment, and then show us the better results moving forward.

    • One of the motivations for a takeover is that the acquiring company feels it can do a better job with the assets than the incumbent management. If KGC management were doing a good job, it would be higher priced and not nearly as attractive a buyout target.

    • What you are FAILING to see is that Kinross, after all the gyrations, now has the CLEANEST books in town. No surprises, no hidden charges, nothing. Just metal in the ground coming out, and a commodity bull to take it for the best price.

    • You have no idea what your talking about. Glad your out now get lost.

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