Update on Annual Shareholders’ Meeting
TORONTO, Ontario - Kinross Gold Corporation
("Kinross" or the "Company") (TSX-K; NYSE-KGC) provides a status
update on the preparation and filing of its financial statements
and related matters.
As previously disclosed, Kinross has not yet filed its financial
statements, related management discussion and analysis and its
annual information form as a result of the review of the accounting
treatment associated with the TVX Gold/Echo Bay merger ("the
merger").
Kinross and its advisors anticipate submitting a letter to U.S.
and Canadian regulators early next week responding to comments on
the registration statement filed by Kinross in connection with the
proposed acquisition of Crown Resources Corporation. Included in
the response letter are the finalized independent valuations of the
assets acquired in the TVX/Echo Bay merger and related documents
and opinions from independent advisors and valuators.
Kinross will begin filing audited financial statements after the
regulators have issued their final comments on our accounting
methodology, our auditors have signed off on our financial
statements, and the financial statements have been approved by our
board of directors.
The previously announced application to the Ontario Superior
Court of Justice for an order extending the time for Kinross to
hold its 2005 annual meeting of shareholders beyond June 30, 2005
was heard today. The postponement was sought because, until such
time as the 2004 audited financial statements of Kinross are
completed, Kinross is not in a position to satisfy the requirement
of the Business Corporations Act (Ontario) that such financial
statements be placed before the shareholders at the annual meeting.
The Court granted an order extending the time for holding the
annual meeting of shareholders to a date no later than December 31,
2005, subject to any further order of the Court. Kinross intends to
hold its annual shareholders' meeting as soon as possible after its
2004 audited financial statements are completed and available for
mailing.
We are issuing bi-weekly updates as to the status and timing
which can be viewed on our website. The next update is scheduled
for the week of July 8, 2005.