Kinross Gold (NYSE:KGC), AngloGold Ashanti (NYSE:AU) Underperforming Peers

When Kinross Gold (NYSE:KGC) and AngloGold Ashanti (NYSE:AU) can't excel in the hot gold market, you know there are some issues with the companies, as they've widely underperformed their competitors during the gold bull run.

Kinross does have some potential if they can take their approximate $1 billion in cash and equivalents, which they received when selling a portion of their stake in Cerro Casale stake to Barrick Gold (NYSE: ABX), and invest it in quality projects.

AngloGold Ashanti has a lot of challenges as their gold production decreases from quarter to quarter, while cost continue to rise, especially those they have no control over like royalties and tariffs.

AngloGold said cost will increase 10 percent to $660 an ounce, while production in the first quarter will fall again, this time by about 9 percent.

Kinross Gold (TSE:K) Invests Red Back (TSE:RBI)

Kinross Gold (TSE:K) has acquired 24 million shares of Red Back (TSE:RBI) in a private placement, an overall investment of $588 million.

Kinross paid a slight premium for the shares, acquiring them at C$25 a share, a little above the C$24.46 close on the Toronto Stock Exchange.

Recent acquisitions by Kinross include the Dvoinoye project in Russia, for which they paid $368 million, and gold exploration company Underworld Resources, which cost them close ot C$140 million. They also sold their stake in Chile's Cerro Casale gold project to Barrick Gold (TSE:ABX).

Kinross Gold (NYSE:KGC) Sells Barrick Gold (NYSE:ABX) 25 Percent Stake in Cerro Casale Project

Kinross Gold and Barrick Gold deal for Cerro Casale Project

Kinross Gold (NYSE:KGC) has sold Barrick Gold (NYSE:ABX) 25 percent of its stake in the Cerro Casale project in Chile for about $474 million.

Terms of the deal were $20 million in contingent obligation from Barrick Gold, along with $474 million in cash.

Barrick now controls the project with a 75 percent stake, while Kinross now holds a 25 percent stake in the Cerro Casale project.

Barrick Gold (TSE:ABX), Kinross Gold (TSE:K) Close Cerro Casale Deal

Barrick, Kinross and Cerro Casale Project

Barrick Gold (TSE:ABX) and Kinross Gold (TSE:K) finished the deal where Barrick acquired another 25 percent interest in the Cerro Casale Project, located in Chile.

Terms of the deal were $454 million cash and Barrick ridding Kinross of a debt of $20million in relationshop to a production decision.

Barrick is now in charge of the project, having a 75 percent stake in Cerro Casale after the acquisition.