Q3 2025 Kinross Gold Corp Earnings Call Transcript

Nov 5, 2025 / 01:00 PM GMT

Transcript

Key Points

Positve

Kinross Gold Corp (KGC) reported record free cash flow of nearly $700 million in Q3 and over $1.7 billion year-to-date.
The company has a strong balance sheet with approximately $1.7 billion in cash and $3.4 billion in total liquidity.
Production in Q3 was on plan, delivering 504,000 ounces at a cost of sales of $1,145 per ounce, contributing to strong operating margins.
Kinross Gold Corp (KGC) increased its return of capital to shareholders, planning to exceed the minimum $650 million commitment for the year.
The company continues to make progress on its project pipeline, including Curlew, Great Bear, and Lobo Marte, supported by a significant resource base.

Negative

Cost of sales increased quarter over quarter due to planned mine sequencing and higher gold prices impacting royalties.
All-in sustaining costs rose compared to Q2, influenced by the timing of sustaining capital expenditures.
Higher royalty costs from increased gold prices are expected to impact operating costs and all-in sustaining costs.
The company anticipates significant tax payments in 2026 related to 2025, with Q1 payments expected to be close to $400 million.
Permitting delays for the AEX program at Great Bear could potentially impact project timelines if not resolved.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

K.TO - Kinross Gold Corp
Q3 2025 Kinross Gold Corp Earnings Call
Nov 05, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and thank you for standing by. My name is Mark and I will be your conference operator today. At this time, I would like to welcome everyone to the Kin Ross 3rd quarter 2025 results conference call and webcast.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session.

If you would like to ask a question during this time, see the press star followed by the number one on your telephone keypad.

And to withdraw your question, press 11 again.

Now I would like to turn the call over to David Shaver, senior Vice President in investor relations. Please go ahead.

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