the company is still on track to meeting its 2009 goal of 2.4-2.5 million ounces of gold production. costs are down and margins are up, largely because of kupol. lobo-marte may see production in 2011, and they are targeting fdn for 2013. the enormous capex for cerro casale (kinross share ~ $1.8 billion) may come in lower to to lower costs for energy, raw materials, labor and just about everything else due to the credit crunch.

i don't expect we will see much if any production growth in 2010. there may be some organic growth from the expansion of existing projects, but they will have to bring lobo marte into production to see any real growth. fdn is still a wild card thanks to the government of ecuador, but they expect to start pre-feas work by the end of the year. i'm still not sold on cerro casale, and i think the price of gold would have to be much higher to move forward on such an expensive, low-grade project.

http://www.kinross.com/news/552009-1...