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« GOLD: A rough ride | Main | Asset Management: Funds »

Kinross Gold Corp: Up 39.58%


We bought this gold stock on 23 June at $10.08; it is now at $14.07 despite the current shakeout. Hold for now and accumulate on dips that is our investment strategy for Kinross Gold Corp.

On the news front Verena Minerals Corporation has announced that it has entered into an agreement with Kinross Gold Corporation whereby Kinross will purchase 7,000,000 common shares at $0.30 per share for a cost of $2,100,000 to obtain 8.7% of Verena's common shares. Verena is a gold exploration company developing prospective projects in Brazil. Active in mineral exploration in Brazil for 10 years, Verena, through a number of its wholly owned Brazilian subsidiaries, controls properties covering 100,000 hectares of exploration concessions at Rio Grande do Norte, Tapajos and Tocantins states.

There is also a 6 minute piece on ROBtv on Wednesday 6th September 2006 at 8.50 am ET on The Street Power Breakfast programme with Tye Burt who is the president and CEO of Kinross Gold. We draw your attention to this because we think he is one of the best managers around and this interview does showcase his skills. Well worth catching on the web if you have not seen it.

Part of our investment criteria is to find well-managed companies and in our opinion we feel that we are in safe hands as this manager is top draw.

Verena Minerals Corp is listed as VML on the TSX-V exchange

Kinross trades as KGC on the NYSE

8th September 2006.

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