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Kinross Gold Streamlines Senior Management

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Kinross Gold Corp. (TSX: K; NYSE: KGC) says it is streamlining the senior leadership team. Lauren Roberts, senior vice president and chief operating officer, and Gina Jardine, senior vice president for human resources, are leaving by “mutual agreement,” Kinross says. Paul Tomory will become executive vice president and chief technical officer and will take on leadership of regional operations. “With the goal of increasing efficiency and cost management, we have streamlined our senior leadership team to ensure we are well positioned to continue delivering on our commitments and building value for the future,” says J. Paul Rollinson, president and chief executive officer. He adds that Tomory “led the successful completion of the Tasiast phase-one expansion, development of the company’s project pipeline and strategic business optimization.” The senior vice presidents of the company’s three operating regions – the Americas, Russia and West Africa – will have increased accountability for their regions, including safety, cash flow, production and costs. The Kinross senior leadership team now includes Rollinson, Geoff Gold, executive vice president, corporate development and external relations and chief legal officer; Tomory; and Andrea Freeborough, senior vice president and chief financial officer.

By Allen Sykora of Kitco News;


Guyana Goldfields: 1Q Output On Track To Meet 2019 Guidance

Tuesday April 16, 2019 08:52

Guyana Goldfields Inc. (TSX: GUY) reports that gold production was some 36,600 ounces in the first quarter, leaving the company on track to achieve 2019 guidance of 145,000 to 160,000 ounces. However, the January-March total was down from 38,500 in the first quarter of 2018. "Management is developing an optimized production schedule that will, among other things, reduce the stockpile build up that is currently part of the new LOM [life-of-mine] plan,” says Scott A. Caldwell, president and chief executive officer. “Moreover, management has identified several additional cost-savings opportunities not captured within the new LOM plan that will improve operating and financial flexibility."

By Allen Sykora of Kitco News;


Caledonia: 1Q Production Dips Year-On-Year; Guidance Maintained

Tuesday April 16, 2019 08:52

Caledonia Mining Corp. Plc (NYSE AMERICAN: CMCL; AIM: CMCL; TSX: CAL) says first-quarter gold production from the Blanket Mine in Zimbabwe totaled 11,948 ounces. “Production in the first quarter of 2019 was slightly below our target and below the comparable quarter in 2018 (Q1 2018: 12,924), albeit at a level which allows us to maintain our 2019 production guidance of 53,000 to 56,000 ounces for the full year,” says Steve Curtis, chief executive officer. “Continued difficulties with unstable electricity supply and grade dilution, which we experienced in 2018, had an adverse effect on production, but improved drilling and blasting practices have been put in place in pursuit of improved grade control, and I am pleased to say that efforts to minimize dilution are proving successful. Our technical team has worked tirelessly to mitigate the effects of electricity-supply interruptions and we continue to work closely with the Zimbabwean electricity-supply authorities to address these challenges as well as investing internally to improve our resilience to this issue.” The company says it remains on track toward its target of 80,000 ounces by 2022.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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