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Looks like I won't have to wait for the Reading of my Will to get rid of my K Shs.
Tye is doing it for me ... he's flushing them down the toilet ... and recvg a Salary in the Upper range to do so.
It appears now I must hang on to his words "Trust Me" for hope ...
We should hope the financing IS to cover increased costs and not to donate another Million or so to the next needy outfit that approaches him to donate funds.
Tye should turn his head instead towards his old beaten up ARU Shareholders, he promised to love and comfort. Other than Patsy Anderson, what other ARU shareholders has he comforted.
Oh ... I bet I know what the funds are going to be allocated to ... he's looking at another T/O!!! He sure can't dilute the shares any further. As such he HAD to do a Financing.
OK Let's have a Lottery ... first we'll speculate as to the Country he has yet to visit
THEN we'll check on the Mining Cos active in that Country and we can have a Lottery as to which one we think it is that's going to get the largest portion of the $1Billion financing.
Me thinks the only way this Kinross holding will get out of my Portfolio is by the Reading of my Will.
Darn I wasn't able to Copy and Paste this article. Could someone advise what I may have failed to do? Here's the link anyway ... Good Article.
Hope the Link works ... it's on Reuters.
http://af.reuters.com/article/investingNews/idAFJOE77I00F20110819?pageNumber=1&virtualBrandChannel=0
www.kinross.com NEWS RELEASE Kinross announces US$1 billion unsecured debt offering Toronto, Ontario, August 16, 2011 –
Kinross Gold Corporation (TSX: K; NYSE: KGC) (“Kinross”) announced
today that it has priced a US$1 billion offering of debt securities, consisting of US$250 million principal amount of its 3.625% Senior Notes due 2016, US$500 million principal amount of its 5.125% Senior Notes due 2021 and US$250 million principal amount of its 6.875% Senior Notes due 2041 (collectively, the “notes”). The notes will be unsecured, senior obligations of Kinross and will be wholly and unconditionally guaranteed by certain of Kinross’ wholly-owned subsidiaries that are also guarantors under Kinross’ amended and restated senior unsecured credit agreement. The offering is expected to close on August 22, 2011. Kinross intends to use the proceeds of the offering for general corporate purposes, including funding for capital expenditures. The offering is being made pursuant to Rule 144A under the Securities Act of 1933 (the “Act”) and outside the United States pursuant to Regulation S under the Act. The notes have not been and will not be registered under the Act and the notes may not be offered or sold in the United States absent registration under the Act or the availability of an applicable exemption from registration requirements. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial or territorial securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Gold up $70. to new record heights at $1,722. and Kinross Flat @ $15.36.
Ooops it couldn't hold it - now off .05c. My Gosh ... Now Off .13c.
I must be the only Idiot still holding the only Gold Stock trading on the World Stock Exchanges that nobody wants to Buy.
Likely the Institutions that Approved the T/O that put us in this disastrous position, are long gone.
Hope you're having fun Tye because your Shareholders sure aren't!!
Kinross Gold shares Sliding Lower Down 0.6%KGC
newstradingcharts.com/futures/0/1/154252810.html
Gold 1430 up 20. 2:00PM