Kinross Ups Proven, Probable Reserves At Round Mountain
Kinross Gold Corp. (TSX: K; NYSE: KGC) has upped proven and probable reserves at Round Mountain in Nevada. The company Monday said it was proceeding with a “Phase W” expansion at the mine. Kinross says the reserve updates are primarily the result of the prior omission of stockpile information in the mineral reserve estimates. As a result of the Phase W feasibility study, estimated proven and probable mineral reserves at Round Mountain increased from 1.3 million gold ounces as of Dec. 31, 2016 to 3.1 million ounces, net of depletion. Approximately 2 million gold ounces were converted from indicated mineral resources to mineral reserves, and the corresponding decrease to the mineral resource estimate was largely offset by the addition of 1.96 million ounces new indicated mineral resources, Kinross says.