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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number 001-09620
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(Check One) [X]Form 10-K [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: December 31, 1998
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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Nothing in the form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
Kinam Gold Inc.
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Full Name of Registrant
Amax Gold Inc.
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Former Name if Applicable
185 South State Street, Suite 820
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Address of Principal Executive Office (STREET AND NUMBER)
Salt Lake City, UT 84111
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City, State and Zip Code
PART II - RULES 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed. (Check appropriate box)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with the
prescribed time period. (Attach Extra Sheets if Needed)
See Exhibit 1
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Brian G. Lloyd 801 532-7840
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such reports been
filed? If answer is no identify report(s).
____________________________________________________ [X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof?
[X] Yes [ ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made:
See Exhibit 1
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Kinam Gold Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date 30 March 1999 By /s/ Brian W. Penny
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Brian W. Penny
Treasurer
INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
persons signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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(Attach Extra Sheets If Needed)
GENERAL INSTRUCTION
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the
General Rules and Regulations under the Securities Exchange Act of
1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549 in accordance with Rule
0-3 of the General Rules and Regulations under the Act. The
information contained in or filed with the form will be made a matter
of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but
need not restate information that has been correctly furnished. The
form shall be clearly identified as an amendment notification.
5. ELECTRONIC FILERS. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties.
Filers unable to submit a report within the time period prescribed due
to difficulties in electronic filing should comply with either Rule
201 or Rule 202 of Regulation S-T (Section 232.201 or Section 232.202
of this chapter) or apply for an adjustment in filing date pursuant to
Rule 13(b) of Regulation S-T (Section 232.12(c) of this chapter).
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KINAM GOLD INC.
EXHIBIT 1 TO FORM 12B-25
PART III
NARRATIVE
Kinam Gold Inc, formerly known as Amax Gold Inc. (the "Company"), owns and
operates multiple mining properties in the Americas, Russia and Chile. All of
the properties are operated independently and financial statements are prepared
by each location. PricewaterhouseCoopers audits the Kubaka operations in Russia
and the Refugio operations in Chile while Deloitte and Touche audits the
Company. In addition, on June 1, 1998, the Company and Kinross Gold Corporation
("Kinross") effected a business combination whereby Kinross Merger Corporation,
a wholly-owned subsidiary of Kinross, was merged with and into the Company and
the Company ultimately became a wholly-owned subsidiary of Kinross Gold U.S.A.,
Inc., a wholly-owned subsidiary of Kinross ("Kinross U.S.A.").
Since January, 1999, the Company, Kinross, Kinross U.S.A. and their auditors
have undertaken extensive efforts to consolidate and audit financial statements
of the Company which included the use of consultants, additional audit staff and
substantial time of the financial group of Kinross. Despite such efforts, the
Company and its auditors have not been able to complete the process of
gathering, reviewing and consolidating the substantial financial information
required to prepare the audited consolidated financial information necessary for
presentation in the Company's Annual Report on Form 10-K for the Year Ended
December 31, 1998 (the "Form 10-K"). Recognizing that Form 10-K is required to
be filed on or before March 31, 1999, the Company has concluded that the Form
10-K cannot be completed on a timely basis without unreasonable effort or
expense.
PART IV
OTHER INFORMATION
The Company anticipates that the results of operations to be included in the
Form 10-K will reflect a significant change from the results of operations
reported for the 1997 fiscal year. The change will result primarily from an
asset write-down of approximately $193.4 million.
