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Stock Market & Financial Investment News

News Breaks
May 19, 2014
12:56 EDTKGCKinross Gold November calls active as shares near 11-year low
Kinross Gold November 5 calls are active on total call of 28K contracts; compared to its open interest of 1,700 contracts. June call option implied volatility is at 34, July is at 33, August is at 35, November is at 42; compared to its 26-week average of 46 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
News For KGC From The Last 14 Days
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October 21, 2014
17:52 EDTKGCKinross Gold announces sale of Fruta del Norte Project in Ecuador
Kinross Gold is pleased to announce that it has entered into an agreement with Fortress Minerals Corp., a member of the Lundin Group of Companies, to sell all of its interest in Aurelian Resources Inc. and the Fruta del Norte project in Ecuador for US$240M in cash and equity. Kinross will receive US$100M-US$190M in cash, depending on the net proceeds from Fortress' announced equity financing, of which affiliates of the Lundin Family Trust have committed up to US$100M. The balance of the purchase price will be paid in Fortress equity. The transaction is subject to certain conditions, including Fortress shareholder and stock exchange approval, the granting by the Ecuadorian Government of an 18-month extension period from transaction closing to provide time for Fortress to carry out additional project feasibility work and development negotiations, and other customary conditions for a transaction of this nature. The Government of Ecuador has indicated its support for the transaction. Kinross and Fortress, and certain of their wholly-owned subsidiaries, have initialed bilateral agreements with the government, which are subject to the approval of the Ecuadorian Attorney General, which is also a condition of the transaction. The transaction is expected to be completed by mid-December 2014.

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