SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: March 7, 1994
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Amax Gold Inc.
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(Exact name of Registrant as specified in its charter)
Delaware 1-9620 061199974
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File No.) Identification No.)
9100 East Mineral Circle 80155
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code (303) 643-5500
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Item 4. Changes in Registrant's Certifying Accountant.
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(a) Previous independent accountants
(i) On March 1, 1994, Registrant's Board of Directors decided
to appoint Price Waterhouse as Registrant's independent
accountants for fiscal year 1994, subject to ratification
by the stockholders at the Annual Meeting of Stockholders
to be held May 5, 1994. Price Waterhouse replaces Coopers &
Lybrand who have been Registrant's independent accountants
since Registrant's inception in 1987. The change was made
to realize certain synergies between Registrant and its new
40% stockholder Cyprus Amax Minerals Company following the
merger of AMAX Inc. with and into Cyprus Minerals Company
on November 15, 1993. Price Waterhouse are the independent
accountants for Cyprus Amax.
(ii) The reports of Coopers & Lybrand on the financial
statements for the past two fiscal years contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or
accounting principles.
(iii) The Registrant's Audit Committee participated in and
approved the decision to change independent accountants.
(iv) In connection with its audits for the two most recent
fiscal years and through March 1, 1994, there have been no
disagreements with Coopers & Lybrand on any matter of
accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which
disagreements if not resolved to the satisfaction of
Coopers & Lybrand would have caused them to make reference
thereto in their report on the financial statements for such
years.
(v) During the two most recent fiscal years and through March
1, 1994, there have been no reportable events (as defined
in Regulation S-K Item 304(a)(l)(v)).
(vi) The Registrant has requested that Coopers & Lybrand furnish
it with a letter addressed to the SEC stating whether or
not it agrees with the above statements. A copy of such
letter, dated March 7, 1994 is filed as Exhibit 1 to this
Form 8-K.
(b) New independent accountants
(i) The Registrant engaged Price Waterhouse as its new
independent accountants as of March 1, 1994. During the two
most recent fiscal years and through March 1, 1994, the
Registrant has not consulted with Price Waterhouse on
items which (1) were or should have been subject to
Statement of Auditing Standards No. 50 or (2) concerned the
subject matter of a disagreement or reportable event with
the former auditor, (as described in Regulation S-K
Item 304(a) (2)).
Item 7. Financial Statements and Exhibits
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(c) Exhibits -
No. Category Exhibit
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1 16 Letter from the Company's
previous independent
accountants regarding their
agreement with the statements
made in this Form 8-K regarding
their Firm.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
March 7, 1994
Amax Gold Inc.
By: /s/ Pamela L. Saxton
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Pamela L. Saxton
Vice President & Controller
[LETTERHEAD OF COOPERS & LYBRAND APPEARS HERE]
March 7, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statements made by Amax Gold Inc. (copy attached), which we
understand will be filed with the Commission, pursuant to Item 4 of Form 8-K,
as part of the Company's Form 8-K report for the month of March 1994. We
agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ COOPERS & LYBRAND
COOPERS & LYBRAND
Attachment