Like a perpetual game of monkey-in-the-middle, the midsized miners of gold are pegged with a term that even sounds like a passing phase: intermediate. With a voracious appetite for acquisitions and a knack for streamlining development, Kinross Gold
At 527,000 ounces, Kinross Gold achieved nearly twice the production of Yamana Gold
Although gold prices were lower in the first quarter compared with last year, Kinross enjoyed a 61% increase in revenue, costs declined 11% to $419 per gold equivalent ounce (GEO), and operating earnings increased 72%. Net earnings, unfortunately, were up an unremarkable 8%, to $76.5 million.
Kinross appears to have a gap in the development pipeline. Beyond the Pacaratu expansion now nearing completion, the pipeline is principally in the feasibility stage, where projects like the Lobo Marte property -- acquired from Teck Resources
A recent blog post by new blogger speedybure on Motley Fool CAPS led me to re-evaluate my classification of larger "mid-tier" miners Kinross and Goldcorp
I still consider Kinross an excellent growth story, but suggest a measure of caution because some projects are located in potentially troublesome regions.