Toronto - Kinross Gold Corporation (TSX-K;
NYSE-KGC) ("Kinross" or the "Company") has now completed the
restatement of its financial statements for the years ended
December 31, 2003 and 2004 that were filed on November 30, 2005.
Kinross will now begin filing its restated quarterly and audited
annual financial statements for 2004 along with comparative
restated numbers for 2003. Kinross will also file its 2004 Annual
Information Form in Canada, and the US equivalent on Form 40-F. The
Company plans to begin the filings next week and will post all
filings on its website, www.kinross.com, and the filings will also
be accessible on SEDAR (www.sedar.com) and Edgar
(www.edgar-online.com).
Kinross plans to release and file its financial statements for
the three quarters ended March 31, June 30 and September 30, 2005
next week.
"My mandate as President and CEO of Kinross includes raising the
bar for our financial reporting standards which will serve our
company and shareholders moving forward. I am pleased that we have
been able to release the restated financial statements for our
company and our shareholders," said Kinross President and CEO, Tye
Burt.
"Moving forward, our strategic objective is to continue to
increase net asset value and cash flow per share," Burt said. "We
are pursuing a four-point plan: growth from existing core
operations; expanding our capacity for the future, developing
attracting and retaining the best people in the industry, and
driving new opportunities from exploration and acquisition."
Further to the press release issued February 3, 2006, the
following is a summary of the restatement resulting from the
non-cash impact of foreign currency translation on future tax
liabilities related to the acquisition of TVX Gold and Echo Bay in
January, 2003:
Pleasedownload PDF to view chart.
Court Motion to Extend Shareholders Meeting
Date
As a result of the delay in mailing its audited financial
statements for the year ended December 31, 2004 in time, a motion
(the "Motion") will be made to the Ontario Superior Court of
Justice for an order extending the time for holding its annual and
special meeting of shareholders for the year ended December 31,
2004. The Motion will seek an order from the Court to extend the
meeting deadline past February 28, 2006, which was the deadline set
by the Court in a previous order. The Motion will request an
extension until June 30, 2006 in order for Kinross to be able to
combine its shareholders meeting for the year ended December 31,
2004 with its shareholders meeting for the year ended December 31,
2005. The combined meeting is currently anticipated to be held in
early May.
Kinross hereby notifies its shareholders that a court date to
hear the Motion has been set for February 27, 2006 at 10:00 a.m. to
be heard at 393 University Avenue, 8th floor, Toronto, Ontario.
Shareholders who wish to appear on the Motion should serve a Notice
of Appearance, in accordance with the Rules of Civil Procedures on
Robert Cohen of Cassels Brock & Blackwell LLP at 40 King Street
West, Suite 2100, Scotia Plaza, Toronto, Ontario, M5H 3C2 or by fax
to Robert Cohen at 416-350-6929. The Court Motion materials will be
available on our website at www.kinross.com.
Cautionary Statement on Forward-Looking Information
This press release includes certain information which may be forward looking and/or “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding projected production results, capital expenditures and future plans and objectives of Kinross Gold Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kinross’ expectations are disclosed under the heading “Risk Factors” and elsewhere in Kinross’ documents filed from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and Canadian securities regulatory authorities.