Kinross Gold Renews Normal Course Issuer Bid Program
Toronto, Ontario – March 19, 2025 – Kinross Gold Corporation (Kinross or the Company), one of the world’s largest gold mining companies with a diverse portfolio of mines and projects, is thrilled to announce that the Toronto Stock Exchange (TSX) has approved the Company’s notice to renew its Normal Course Issuer Bid (NCIB) program.
About Kinross Gold Corporation
Kinross is a leading gold mining company with a strong focus on sustainable operations and growth. The Company operates in North and South America, Central America, and West Africa, and owns and operates several large-scale mines and development projects. Kinross’s portfolio includes the Fort Knox, Paracatui, and Tasiast mines, among others.
Renewal of NCIB Program
Under the renewed NCIB program, Kinross can repurchase up to 18,423,500 common shares of its outstanding stock, representing approximately 5.5% of the Company’s current public float. The program will commence on April 1, 2025, and will continue until March 31, 2026, or until the Company has purchased the maximum number of shares under the program. The price for any shares repurchased under the NCIB will be determined in accordance with the TSX rules.
Impact on Shareholders
For shareholders, the renewal of the NCIB program is a positive sign of Kinross’s commitment to creating value for its shareholders. By buying back shares, the Company reduces the number of shares outstanding, increasing the proportionate ownership of each existing shareholder. Additionally, a buyback program can signal confidence in the Company’s future growth prospects and financial position.
Impact on the Global Gold Market
The renewal of Kinross’s NCIB program could have a ripple effect on the global gold market. As one of the world’s largest gold mining companies, Kinross’s decision to buy back shares may encourage other gold producers to follow suit. A wave of buybacks from major gold mining companies could lead to increased demand for gold, potentially driving up the price of the precious metal.
Conclusion
Kinross Gold Corporation’s renewal of its Normal Course Issuer Bid program is a positive sign for the Company and its shareholders. By buying back shares, Kinross is demonstrating its commitment to creating value for its shareholders and signaling confidence in its future growth prospects. Furthermore, the renewal of the NCIB program could have a broader impact on the global gold market, potentially leading to increased demand for gold and driving up its price.
- Kinross Gold Corporation renews its Normal Course Issuer Bid program
- TSX approves notice for program, allowing Kinross to buy back up to 18,423,500 common shares
- Program commences on April 1, 2025, and continues until March 31, 2026, or until maximum number of shares purchased
- Positive sign for shareholders, as buybacks reduce the number of shares outstanding and increase each shareholder’s proportionate ownership
- Potential ripple effect on global gold market, as increased demand for gold from major mining companies could drive up its price
