Further to this and as some here have also mentioned... Kinross does seem to be the most active major in the junior exploration space... or is that just me? Every other week of late I see a NR cross the wire re: 'Kinross invests in/starts drilling with/signs JV with junior company x". For example... in the past month...
2009-06-30: CANASIA INDUSTRIES CORPORATION: KINROSS TO BEGIN DRILLING DEBUT
2009-06-23: CANADIAN SHIELD AND KINROSS SIGN LETTER OF INTENT TO FORM ALLIANCE FOR EXPLORATION IN PERU
2009-06-19: KINROSS ANNOUNCES INVESTMENT IN UNDERWORLD RESOURCES INC.
2009-05-29: KINROSS GOLD INVESTS IN MILLROCK
2009-05-28: LAURENTIAN GOLDFIELDS LTD. AND KINROSS GOLD CORPORATION ENTER INTO LETTER OF INTENT TO FORM UCHI EXPLORATION ALLIANCE
Would seem Kinross 'backdoor' investment in SGX would be largely unknown among investment community as there was no formal NR stating Kinross 6% stake in SGX as a result of CPW-v acquisition. I really hope Kinross has bigger plans for SGX (i.e. upping stake in SGX as described below) and we see a NR like those above re: Golden Extension exploration or development. Or maybe Kinross has their eye on Brookbank deposit... Paint Lake JV would be great 'in' there. With current float I hope SGX would have no problem accepting Kinross shares and cash and expertise for stake in either SGX property.
Whatever actually does happen, you must admit it is reassuring to know Kinross now has (or soon will have) stake in SGX, given they seem to be very active in junior exploration space IMO. Would seem like only a matter of time before they work a deal with SGX.
red911
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Kinross...
posted on Jun 23, 09 08:21AM by red911
Just looking through latest Kinross financial statements. Page F-10 "Investment in shares carried on an equity basis" reveals Kinross investment in 4 other companies, of which Consolidated Puma Minerals Corp. is one. I find it very interesting that Kinross owns shares in just 4 companies... of which Sage Gold Inc. is now (or will be shortly) 1 of these 4.
However, what I also find interesting is that the lowest stake Kinross holds in any of these other companies is 19.9%... Victoria Gold Corp. (25%), Consolidated Puma Minerals Corp. (35%), Brett Resources Inc. (25%), Harry Winston Diamond Corp. (19.9%)... Makes sense as Kinross is a major and when 'they are in' they are really in.
After the CPW-v deal closes, Kinross will only hold 6% of Sage Gold Inc. Will this be enough for them? Or will we quickly see them up their stake to a more respectable 25-30% interest? Would seem possible. Would almost seem embarressing for Kinross to have just 6% interest in 7 cent company appear on their next set of financial statements next to investments in Harry Winston, Victoria Gold, and Brett Resources LOL.
Seems CPW-v was the one blemish on Kinross' short list of investments. However, would also be safe to assume that Kinross (who still owns 35% of CPW-v) had a lot of influence re: SGX acquisition of CPW. Would love to know who sought out who. We have known for some time that KXL has had confidentiality agreements in place with several majors... Kinross is likely one of them. Is this 'back-door' investment in SGX Kinross' way to quietly move in on this discovery? Possibilities here are endless.
Kinross involvement here is huge news and should not be underestimated IMO.
red911
