Canada’s Kinross Gold (TSX: K) (NYSE: KGC) expects to declare an initial mineral resource for its recently acquired Great Bear gold project in Red Lake, Ontario, as part of its 2022 year-end results, it said in an update.
The gold miner, which paid $1.8 billion in cash and shares for Great Bear in a deal that closed in late February, said the estimate is predominantly in the inferred resource category, with some indicated resources.
It also noted that it plans to submit an initial project description to permitting authorities in early 2023, after which it will start a pre-feasibility study on the project.
Closing the door on Russia and its Chirano mine in Ghana, has shifted Kinross focus toward the Americas and lower geopolitical risk jurisdiction, BMO metals and mining analyst Jackie Przbylowski said in a note to investors.
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