- Kinross Gold Corporation (K) is renewing its normal course issuer bid (NCIB) program
- Under the bid, Kinross may purchase up to 65,002,277 of its common shares
- Daily purchases will be limited to a maximum of 1,158,750 common shares
- All shares purchased under the NCIB program will be cancelled
- Kinross is a Canadian-based gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada
- Kinross Gold Corporation (K) is up 1.39 per cent on the day, trading at C$4.38 per share at 11 am ET
Kinross Gold Corporation (K) is renewing its normal course issuer bid (NCIB) program.
Under the bid, Kinross may purchase up to 65,002,277 of its common shares, representing 5% of the company’s issued and outstanding common shares, between August 3, 2022 and August 2, 2023.
The company believes that the market price of the common shares may not always reflect their value, and the purchase of the common shares would be in the best interest of the company and its shareholders.
Daily repurchases on the TSX will be limited to a maximum of 1,158,750 common shares.
All shares purchased under the NCIB program will be cancelled.
Under the previous normal course issuer bid, the company repurchased a total of 17,608,678 common shares, which were cancelled.
The price Kinross will pay for any common shares will be the market price at the time of acquisition.
Kinross has entered into an automatic repurchase plan to allow for purchases of its common shares during certain pre-determined black-out periods, subject to certain parameters as to price and number of common shares.
Kinross is a Canadian-based gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada.
Kinross Gold Corporation (K) is up 1.39 per cent on the day, trading at C$4.38 per share at 11 am ET.
