Canadian gold producer Kinross Gold first-quarter earnings exceeded Wall Street analysts’ expectations, adjusted net income of $ 1.4 million. Although this figure is much lower than the same period in 2015 of $ 15.3 million, but still beyond analysts’ expectations.

The first quarter of 2016, Kinross Gold production was 690,000 ounces, an increase of 9%. Gold revenue also slightly risen, 664,200 ounces of gold sales, on sales of 782.6 million Canadian dollars. The 2015 first quarter sales of 641 gold, 752 ounces, sales of 781.4 million Canadian dollars.

Kinross President and CEO Paul • Rawlinson (Paul Rollinson) on Tuesday said that this year there is a good start, strong free cash flow is the basis for the first quarter of Kinross good business performance.

The average price per ounce of gold sold by 1179, down from 1218 in 2015 dollars per ounce price.

Kinross first-quarter operating profit fell 44% year on year, mainly due to the fall in gold prices, as well as acquisitions and Nevada assets.

Rawlinson said the plan would Kinross gold mine in Mauritania Tasiast first phase of expansion, expected production capacity will nearly double. Meanwhile, the company has completed a Phase II expansion potential, and completed the feasibility study report. With the completion of the acquisition of the assets of Nevada, the company’s development potential will be more powerful, more resources will be converted to reserves.

In 2016, when Kinross Gold plans to produce about 2.7 to 2.9 million ounces, the estimated total cost of maintaining an ounce from $ 890 to $ 990, capital expenditure of about 755 million Canadian dollars.