- Kinross Gold Corporation (K) has received approval from the TSX to amend its normal course issuer bid (NCIB) effective October 4, 2022
- Between August 3, 2022, and August 2, 2023, Kinross may repurchase up to a maximum of 114,047,070 common shares for cancellation
- Under its previous NCIB, Kinross repurchased a total of 14,657,908 common shares
- Daily repurchases on the TSX will be limited to a maximum of 1,158,750
- Kinross is a Canadian-based global senior gold mining company
- Kinross Gold Corporation (K) opened trading at C$4.93
Kinross Gold Corporation (K) has received approval from the TSX to amend its normal course issuer bid (NCIB) effective October 4, 2022.
The amendment increases the maximum number of common shares that may be repurchased to 114,047,070.
Purchases under the NCIB began on August 3, 2022, and will end no later than August 2, 2023.
Under its previous NCIB, Kinross repurchased a total of 14,657,908 common shares through September 27, 2022.
The amendment to the NCIB is consistent with the company’s view that the purchase of common shares is an appropriate use of funds.
Daily repurchases on the TSX will be limited to a maximum of 1,158,750 common shares. The maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four weeks preceding the date of purchase.
All shares purchased under the NCIB program will be cancelled.
Kinross has entered into an amended automatic repurchase plan with its designated broker to allow for purchases of its common shares during certain pre-determined black-out periods, subject to certain parameters as to price and number of common shares.
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada.
Kinross Gold Corporation (K) opened trading at C$4.93.