BRIEF-Kinross Gold reports Q4 adjusted loss per share $0.01

Tue Feb 10, 2015 5:13pm EST
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Feb 10 (Reuters) - Kinross Gold Corp -

* Q4 revenue $791.3 million versus $877.1 million last year; Q4 adjusted loss per share $0.01; Q4 loss per share $1.26

* Q4 production of 672,051 gold equivalent ounces versus 646,234 ounces last year; Q4 all-in sustaining cost $1,006 per au eq. oz. sold versus $1,175 last year

* Q4 reported net loss includes an after-tax, non-cash impairment charge of $932.2 million and an inventory write down of $167.6 million

* Expects to produce about 2.4 - 2.6 million au eq. oz. In 2015 at production cost of sales per au eq. oz. Of $720 - $780 and all-in sustaining cost per au eq. oz. Of $1,000 - $1,100

* Decided not to proceed with the Tasiast mill expansion at present time, primarily as a result of current gold price environment; will continue to focus on reducing operating costs at Tasiast

* Total capital expenditures are forecast to be approximately $725 million in 2015

* "Preserving balance sheet strength remains our priority, particularly given the current gold price environment"

* Production in the first quarter of 2015 is expected to be lower year-over-year, before leveling out in Q2

* Total estimated measured and indicated mineral resources at year-end 2014 increased by about 3.5 million au oz. to 23.1 million au oz. compared with year-end 2013 Source text for Eikon: Further company coverage: