He sees the Gilmore project's low initial capital cost funded by Fort Knox's existing cash flow, helping preserve the company strong balance sheet and financial flexibility. The Gilmore feasibility study outlines the first two phases of a potential multi-phase layback of the existing Fort Knox open pit and building a new heap leach pad. This will draw extensively on Kinross' experience and knowledge operating in extreme cold weather, and successfully running a sub-arctic heap leaching facility, having successfully operated Fort Knox's current heap leach during the past 10 years.