The operating loss from continuing operations in 2011

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Unformatted text preview: t parameters, including its analysis of a draft mine plan. The operating loss from continuing operations in 2011 was reduced by the higher gold equivalent ounces sold and higher realized metal prices in 2011 compared with 2010. The net loss from continuing operations attributable to common shareholders in 2011 was $2,093.4 million or $1.84 per share compared with net earnings from continuing operations attributable to common shareholders of $735.3 million or $0.89 per share in 2010. The net loss attributable to common shareholders in 2011 was primarily a result of the operating loss noted above. In 2010, other income included gains of $146.4 million, $95.5 million, and $78.1 million recorded on the Company’s sa le of its equity interest in Harry Winston, its interest in Diavik, and sale of one-half of the Company’s interest in Cerro Casale, respectively. In addition, in 2010, the Company recognized a gain of $209.3 million representing the unrealized increase in fair value of its initial investment in Red Back at the time of the acquisition. MDA6 KINROSS GOLD 2012 ANNUAL REPORT Adjusted net earnings from continuing operations attributable to common shareholders was $850.8 million, or $0.75 per share for 2011, compared with adjusted net earnings from continuing operations attributable to common shareholders of $460.7 million, or $0.56 per share, for 2010. Net operating cash flows from continuing operations were $1,378.8 million compared with $957.3 million for 2010. Operating cash flows for 2011 were positively affected by higher metal prices realized compared to 2010. This increase was partially offset by cash payments on the close out and early settlement of derivative instruments acquired with the Bema acquisition. The adjusted operating cash flow from continuing operations in 2011 was $1,561.8 million compared with $1,066.8 million for 2010, primarily due to higher gold equivalent ounces sold and higher realized gold prices in 2011 compared with 2010. Mineral Reserves1 Kinross’ total estimated proven and pr...
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This document was uploaded on 03/30/2014.

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