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Kinross Gold Corporation Message Board

  • tennisrs tennisrs Jun 11, 2013 10:05 AM Flag

    From the Street on FDN...

    BMO - Sees impact potentially positive as it saves ~$1.4B on capex, increases KGC focus on key assets

    Canaccord - Downgraded to Hold vs Buy on relative valuation; PT cut to $7.70 from $8. Previously assigned "in-situ" value of $275M for FDN. Debt maturity date extension should ease medium-term cash balance concerns at current spot price

    Credit Suisse - $720M impairment charge was flagged in 1Q MD&A, doesn't impact NAV

    RBC - says impact of FDN cancellation "slight positive". News was "largely expected" by mkt due to continued challenges surrounding negotiation with govt. Capex savings of ~$1B from FDN will provide added financial flexibility in future yrs.

    TD - Mgmt made "correct" decision by canceling FDN; impact positive. FDN had "negligible" impact on NAV, no impact on N-T ests.

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