IAN MCGUGAN – As stock markets around the world have swooned, the shares of Canadian gold producers have headed steadily upward.
The strength of that move will be tested this week as major producers begin to unveil financial results.
Kinross Gold Corp. kicked things off on Wednesday, reporting a loss of $841.9-million (U.S.) or 73 cents a share, for the fourth quarter. That compared with a loss of $1.47-billion or $1.29 in the same quarter a year earlier.
The loss included a non-cash impairment charge of $430.2-million related to property, plant and equipment, and a writedown of inventory and other assets of $235-million. Continue Reading →