Kinross Gold (C$10.69, -C$2.51, -19%) said it will require an additional six to nine months of analysis and planning to develop its Tasiast gold mine in Mauritania, and expects to record a "material" non-cash impairment charge in connection with the project.
Dundee REIT (C$33.50, -C$1.57, -4.5%) said it has agreed to buy Whiterock REIT (C$15.98, C$1.68, 12%) for C$16.25 a share in cash, subject to a maximum of C$360 million, or 0.4729 of a Dundee unit for each Whiterock unit. Whiterock's board supports the offer.
Primero Mining (C$3.25, -C$0.49, -13%) said some operating results at its San Dimas gold-silver mine in Mexico in 2011 didn't meet its expectations, mainly due to lack of grade predictability. As a result, it said it's undertaking a number of operations improvements and reviewing its current reserve and resource estimation methods. It puts 2012 production at 100,000-110,000 gold equivalent ounces, reflecting the lower ore grades its recently encountered.