- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Kinross Gold Corporation (TSX:K,NYSE:KGC) has completed the sale of its interest in Aurelian Resources and the Fruta del Norte project to Fortress Minerals (TSXV:FST.H) for $240 million. Fortress is a member of the Lundin group of companies.
Kinross Gold Corporation (TSX:K,NYSE:KGC) has completed the sale of its interest in Aurelian Resources and the Fruta del Norte project to Fortress Minerals (TSXV:FST.H) for $240 million. Fortress is a member of the Lundin group of companies.
As quoted in the press release:
Further to the Company’s news release dated October 21, 2014 announcing the sale, Kinross received 26,156,250 Fortress common shares, issued at a price of C$4.00 per share, resulting in Kinross owning approximately 25.8% of Fortress’ outstanding common shares. The sale was subject to various conditions, including the granting of certain approvals by the Government of Ecuador, which have all been provided.
Kinross CEO, J. Paul Rollinson, said:
We believe this is a win-win transaction for both Kinross shareholders and the future of the Fruta del Norte project. The sale further strengthens Kinross’ balance sheet as the Company focuses on its strategic priorities. At the same time, Kinross’ equity position in Fortress could provide it with an opportunity to benefit from the project’s development.
Click here to read the Kinross Gold Corporation (TSX:K,NYSE:KGC) press release
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.