Kinross Shatters Records with Stellar Q3 Free Cashflow Performance, Poised to Exceed Guidance

Kinross Highlights Record Free Cash Flow in Q3, Set to Meet Guidance

Kinross Gold Corporation, a leading gold mining company, has recently announced its financial results for the third quarter of the year, showcasing impressive record free cash flow numbers. The company’s performance in Q3 reflects its commitment to delivering value to shareholders while maintaining operational excellence in a challenging environment.

Key Financial Highlights
Kinross reported a record free cash flow of $548.9 million in Q3, a significant increase compared to the previous quarter. This robust cash flow generation demonstrates the company’s ability to generate strong returns from its operations despite the volatile market conditions. The strong free cash flow position puts Kinross in a favorable financial position to pursue growth opportunities and return capital to shareholders.

Additionally, the company reported revenue of $1.16 billion in Q3, driven by higher gold production and realized gold prices. Kinross produced 603,312 attributable gold equivalent ounces, with all-in sustaining costs of $1,054 per ounce. The company’s solid financial performance in Q3 underscores its operational resilience and ability to adapt to market fluctuations.

Operational Highlights
Kinross’ operational performance in Q3 was marked by strong production from its key mines, including Paracatu in Brazil, Kupol and Dvoinoye in Russia, and Tasiast in Mauritania. The company continues to focus on optimizing its operations, driving efficiency, and reducing costs to enhance profitability and strengthen its competitive position in the industry.

During the quarter, Kinross made progress on its growth projects, including the expansion of the Tasiast mine and the development of the La Coipa Restart project. These projects are expected to further enhance the company’s production profile and deliver long-term value to shareholders.

Outlook and Guidance
Based on its strong performance in Q3, Kinross is on track to meet its annual production and cost guidance for the year. The company maintains its full-year production guidance of 2.2-2.4 million gold equivalent ounces at all-in sustaining costs of $995-$1,055 per ounce. Kinross’ ability to deliver on its guidance despite the challenging market conditions underscores its operational discipline and commitment to creating sustainable value for stakeholders.

Looking ahead, Kinross remains focused on optimizing its existing assets, advancing its growth projects, and exploring new opportunities to drive long-term growth and profitability. The company’s strong financial position, operational excellence, and strategic approach position it well to navigate the evolving market dynamics and capitalize on opportunities in the gold mining sector.

In conclusion, Kinross Gold Corporation’s record free cash flow in Q3 and its strong operational performance underscore the company’s resilience, operational excellence, and commitment to delivering value to shareholders. With a solid financial position, a robust production profile, and a strategic growth plan, Kinross is well-positioned to capitalize on opportunities in the gold mining sector and create long-term value for its stakeholders.