Kinross Gold Reported Third Quarter Earnings And Gold Production Falls
November 6th, 2009 | File Under : Gold Mine - Mineral Exploration - Mining Production - mining companies
Kinross Gold, mining companies-Driven in Toronto, reported profits obtained from exploration and production of gold fell. Lowering profits for financing the expansion of higher gold mine. Expansion gold mines done because of the increase in gold prices.
Kinross chief executive Tye Burt said, “While earnings and cash flow before changes in working capital is higher than the previous year, we are disappointed with other aspects of the results for the third quarter.”
Canadian mining company was reported, lost $ 21.5 million, or 3 cents per share, in the quarter ended September 30. That compared with a profit C $ 64.7 million, or 10 cents per share, in the period of the previous year.
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