Kinross Gold Completes Acquisition of 9.9% Stake in Eminent Gold

Acquisition Details - Kinross Gold Corporation (KGC) has acquired 7,574,237 units of Eminent Gold Corp. at 40 cents per unit, totaling approximately $3 million [1] - The acquisition follows Eminent's private placement of 10,711,900 units, with each unit consisting of one common share and one-half of a share purchase warrant [1] - Each warrant allows the holder to purchase one common share at 70 cents for 24 months from issuance [1] Ownership and Market Impact - Post-acquisition, Kinross holds 7,574,237 common shares and 3,787,118 warrants, representing about 9.9% of Eminent's issued shares on a non-diluted basis and approximately 14.15% on a partially diluted basis [2] - Kinross shares have increased by 72% over the past year, outperforming the industry average rise of 26.7% [2] Production and Financial Outlook - Kinross aims to produce 2 million gold equivalent ounces (+/- 5%) in 2025, with a production cost of sales per gold equivalent ounce of$ 1,120 (+/- 5%) and an all-in sustaining cost of $1,500 (+/- 5%) per ounce sold [3] - Total attributable capital expenditures are projected to be$ 1,150 million (+/- 5%) [3] Company Rankings and Comparisons - Kinross currently holds a Zacks Rank 2 (Buy) [4] - Other top-ranked stocks in the basic materials sector include Carpenter Technology Corporation (CRS), Idaho Strategic Resources, Inc. (IDR), and Hawkins, Inc. (HWKN) [4] - Carpenter Technology has a Zacks Rank 1 (Strong Buy) and has seen a 112% increase in shares over the past year [4] - Idaho Strategic Resources has a current-year earnings estimate of 21 cents and a Zacks Rank 2, with shares up 28% in the past year [5] - Hawkins, with a Zacks Rank 1, has delivered an average earnings surprise of 6.1% and shares have increased by 57.3% in the past year [6]