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Additional Information
Market: TSX
Sector: Gold Mining
Epic: TSX:K
News: Latest news
Web Site: Kinross Gold Corp
Other Articles: 27-04-201006-04-201011-03-2010 
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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

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Kinross Gold Corp

Kinross Gold Corp

Kinross Gold Corporation was established in 1993 and has since grown to become the third largest primary gold producer in North America by reserves.  Based in Canada, with nine mines in stable countries including the United States, Brazil, Chile and Russia, Kinross employs more than 5,000 people worldwide
Thursday, March 11, 2010

Kinross Gold Corp to fully acquire Underworld Resources at 36% premium

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Kinross Gold Corp (TSX: K, NYSE: KCG) has agreed to acquire the shares in Underworld Resources (TSX-V: UW) not already owned by Kinross.

Kinross will offer 0.141 of its share and C$0.01 in cash for each share in Underworld, making for a total consideration of C$2.62 per share, based on the March 10, 2010 closing price of C$18.54 per Kinross common share on the Toronto Stock Exchange (TSX). The transaction values the fully-diluted share capital of Underworld at approximately C$139.2 million.

The offer represents a premium of 36% to Underworld’s closing price yesterday and a 50.2% premium based on its average volume weighted prices over the 20 trading days ended 10 March 2010.

Underworld’s board has already recommended its shareholders, directors and management team to accept the offer with the conclusion of a definitive support agreement expected by 15 March 2010. The company's key asset is the White Gold project, located in the Tintina gold belt, approximately 95 km south of Dawson City, Yukon Territory, Canada.

“The Kinross offer brings substantial technical and financial resources to the White Gold property which will further rapidly advance the project. We feel the Kinross offer provides immediate value to our shareholders,” said Underworld chairman Michael Williams.

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