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Kinross Gold Corporation - Status Update on Late Financial Statements Filing
Kinross Gold Corporation - Status Update on Late Financial Statements Filing.
About this update from Kinross Gold Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 22 /CNW/ - Kinross Gold Corporation (\"Kinross\" or the\n\"Company\") (TSX-K; NYSE-KGC) provides a status update on the preparation and\nfiling of its financial statements and related matters.\nAs previously disclosed, Kinross has not yet filed its audited financial\nstatements and related management's discussion and analysis or its annual\ninformation form as a result of the review of the accounting treatment for the\nassets acquired in the TVX Gold/Echo Bay merger (\"the Merger\").\nKinross has submitted a letter to U.S. and Canadian regulators responding\nto comments on the registration statement filed by Kinross in connection with\nthe proposed acquisition of Crown Resources Corporation. Included with the\nresponse letter are the independent valuations of the assets acquired in the\nMerger and related documents and opinions from independent advisors and\nvaluators.\nIf accepted, the proposed accounting methodology that is being reviewed\nby regulators would lead to a significant restatement of Kinross' results for\n2003. Kinross has recently been notified by the staff of the enforcement\ndivision of the U.S. Securities and Exchange Commission that it will request\nadditional documents from Kinross shortly in connection with an informal\ninquiry focused on Kinross' accounting for the Merger and the potential\nrestatement.\nKinross will file audited financial statements after the relevant\nregulators have issued their final comments on the accounting treatment for\nthe assets acquired in the Merger, the auditors have signed off on the\nfinancial statements, and the financial statements have been approved by\nKinross' board of directors.\nKinross will issue bi-weekly updates as to the status and timing which\ncan be viewed on the website at www.kinross.com. The next update is scheduled\nfor the week of August 1, 2005.\n\nKinross will continue to provide bi-weekly status updates to the market\nregarding the process relating to the preparation and filing of its financial\nstatements and related matters, pursuant to the alternative information\nguidelines of the Ontario Securities Commission (\"OSC\") Policy 57-603 and\nCanadian Securities Administrators Staff Notice 57-301, until such time as\nKinross is current with its filing obligations under Canadian securities laws.\n%SEDAR: 00002968E\n\n\n","length":...