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By Rose Ragsdale
For Mining News 

Alaska properties swamp 2005 bottom line

Kinross takes $141.8M charge in 4th quarter to reflect lower values of True North, Gil deposits and withdrawal from Ryan Lode

 

Last updated 4/23/2006 at Noon



Kinross Gold Corp., owner of the Fort Knox gold mine 25 miles northeast of Fairbanks, posted a loss for 2005 of $216.0 million, including a $154.3 million deficit in the fourth quarter. The Toronto-based gold producer blamed the bulk of its fourth quarter loss on non-cash impairment charges of $147.2 million, including a charge of $141.8 million related to Fort Knox.

During a thorough review o...



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