Kerr Mines Inc (KER)

[goldenpolarbear]

Kerr Mines

NEW CAPITAL STRUCTURE
Of the Company's outstanding debt has been restructured Approximately $11 million
• Net current working capital improved by $22.5 million
• Capital infusion through sale of non-core assets
• Remaining debt in friendly hands
85%

http://kerrmines.com

Overall resources can also change significantly over time, often when resources are moved into the proven and probable category. For instance, the Livengood project in Alaska being advanced by Tower Hill Mines fell to just outside the top 20 after the company updated resources in August last year, cutting nearly 10moz from the total estimate. Things also move in the opposite direction with Seabridge continuing to add ounces to its KSM project in British Columbia.

Looking at proven and probable reserves only is also a moving target as gold prices and mine economics change. When considering proven & probable reserves Freeport's Grasberg in Indonesia moves to the top followed by Gold Fields' South Deep Mine, KSM, and Barrick and Novagold's Donlin joint venture in Alaska.

Closely watched projects outside the top 10 include Turquoise Hill's Oyu Tolgoi open pit mine and underground expansion in Mongolia which ranks 11th with resources of 42.4moz, Newcrest and Harmony Gold's Wafi-Golpu project in Papua New Guinea (no. 12 with 37.6moz), AngloGold's mothballed Obuasi mine in Ghana (no. 17 with 27.3moz), and Barrick's stalled Pascua Lama property straddling the border between Chile and Argentina (no. 19 – 22.8moz).

http://www.mining.com/worlds-top-10-gold-deposits/