Why Kinross’s Gold Reserves Declined in 2017
Gold miners (GDX)(GDXJ) face the problem of compensating for every ounce they take out of the ground. Kinross Gold (KGC) has continued to use a gold price assumption of $1,200 per ounce for reserves and $1,400 per ounce for resources since 2011 to estimate reserves and resources at the end of 2017. Kinross’s reserves were 16% lower, at 25.9 million ounces, at the end of 2017 than in 2016.