The gold major yesterday reported strong March quarter results, with the company saying it was on track to meet 2019 production, cost and expenditures guidance and its three largest operations had "exceeded expectations".

Paracatu in Brazil and Tasiast in Mauritania both notched up record quarterly production, with Kinross reporting Paracatu's lowest costs since 2010.

Rounding out the top three, higher grades at Kupol in Russia pushed the operation to higher production on a year-on-year and quarter-over-quarter basis.

The company produced 606,031 gold-equivalent ounces for the March quarter at an all-in sustaining cost of US$925/oz.

It is aiming to produce about 2.5 million ounces gold-equivalent this year at an AISC of $995/oz.

Meanwhile, Kinross said it was looking at various options in Chile, including the La Coipa restart project followed by the Lobo-Marte project which it described as "one of the highest grade deposits in the Maricunga district".

"The completed Lobo-Marte project scoping study shows encouraging results for a potential return to long-term production in Chile, with Lobo-Marte production commencing after the La Coipa restart project's mine life, where a feasibility study is on schedule to be completed in Q3 2019," the company said.

Elsewhere, Kinross expects initial ore from its Fort Knox Gilmore project in Alaska in early 2020 and is looking at lower cost alternatives to the phase two expansion at Tasiast, which it said remained a viable option.

In Nevada, Kinross said Round Mountain Phase W was on schedule, but "unusually severe winter weather had challenged" the Bald Mountain Vantage Complex's budget and schedule, with support infrastructure now about 60% complete.

Kinross reported revenue from metal sales of $786.2 million for the March quarter, compared with $897.2 million for the previous corresponding period, mainly due to a decrease in ounces sold and a lower realised gold price of $1,304/oz, down from $1,330/oz a year earlier.

It reported net earnings of $64.7 million or 5c per share.

Kinross ended the quarter with $406.9 million in cash and equivalents.

Its shares closed down C6c or 1.46% to $4.06, near the middle of its 52-week range and capitalising it over $5 billion.