12:23 PM EST - Kinross Gold Corp. : announced that it has agreed in principle to acquire the high-grade Dvoinoye deposit and the Vodorazdelnaya property, both located approximately 90 km north of Kinross' Kupol operation in the Chukotka region of the Russian Far East. The transaction entails the indirect acquisition of 100% of the participatory interests in Northern Gold LLC and Regionruda LLC, the owners of the Dvoinoye and Vodorazdelnaya exploration and mining licenses. The total purchase price is $368 million U.S., comprising $165 million U.S. in cash and approximately 10.56 million newly issued Kinross shares, with a market value of $203 million U.S., as of market close on January 19, 2010. The transaction is expected to close by the third quarter of 2010. Kinross Gold Corp.
shares T.K are trading down $0.27 at $19.13.
