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Kinross Gold Corporation Message Board

philtmcnasty8 6 posts  |  Last Activity: Feb 25, 2015 9:26 AM Member since: Mar 27, 2004
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  • Reply to

    Any news about Skouries?

    by jackbama_o Feb 24, 2015 6:13 PM
    philtmcnasty8 philtmcnasty8 Feb 25, 2015 9:26 AM Flag

    Senior Greek Government official says they won't block it, but will review some permits:

  • Reply to


    by tikas2709 Feb 13, 2015 12:42 PM
    philtmcnasty8 philtmcnasty8 Feb 13, 2015 2:08 PM Flag

    I disagree. If gold can just hold the current level miners like Kinross should do quite well in 2015. If you look at what went into the cost estimates for 2015, they include $90 oil, $1.10 CAD/USD, 40RUB/USD, etc. In other words very conservative cost estimates compared to today's rates. If oil just stays where it is and the USD doesn't appreciate any more, Kinross costs will be much lower than estimated and margins higher. On top of that, depreciation expense will be a lot lower after asset impairments (mind you that doesn't affect cash flow). If however oil and FX rates were to return to levels used in their cost estimates, the gold price would likely soar.

    The unfortunate thing with Kinross is they are likely to be gun shy after spectacular past failures and unwilling to pull the trigger re acquisitions at the right price. That's somewhat true of the whole industry.

  • Kinross not even getting a little bump from the deal announced

  • Headlines for Google still blaring about sliding shares after hours even though its up $10 now.
    There are a lot of moving pieces in the AMZN numbers and they're not all good.

  • Just for a little perspective: AMZN is back to the same price level as it was after Q4 earnings last year, after reporting lower earnings, lower FCF and lower net cash after debt.

  • philtmcnasty8 philtmcnasty8 Jan 22, 2015 3:53 PM Flag

    "Crude oil seems to found the bottom here to really save anymore on the production costs"

    Most of the drop in oil was in the 4th quarter. It's hard to imagine the miners have seen all they're going to in cost savings. Most probably bought the diesel used in Q4 at much higher prices. If oil prices only stay where they are and gold price does the same, you will see significant margin improvement in 2015. Higher USD also contributes to margins for non-US mines.

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