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SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

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FORM 10-K/A

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AMENDMENT NO. 1

|ý | ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2001

OR

|o | TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------

For the transition period from  to

Commission File No. 0-23042

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MK GOLD COMPANY(Exact name of registrant as specified in charter)

Delaware

82-0487047(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)


60 East South Temple, Suite 2100
Salt Lake City, Utah 84111
(801) 297-6900(Address of principal executive offices and telephone number)

Securities
registered pursuant to Section 12(b) of the Act: None

Securities
registered pursuant to Section 12(g) of the Act:

Common
Stock, par value $.01 per share
(Title of Class)

Indicate
by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes ý    No o

Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's
knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. o

As
of March 22, 2002, the aggregate market value of the Registrant's voting and non-voting common stock held by non-affiliates of the Registrant based upon the average
bid and asked prices reported for such date on the OTC Bulletin Board was approximately $4,486,158.

The
number of shares of the Registrant's common stock outstanding as of March 22, 2002 was 37,395,649.

DOCUMENTS INCORPORATED BY REFERENCE

None.

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EXPLANATORY NOTE

This Report on Form 10-K/A adds Part III to the Annual Report on Form 10-K of MK Gold Company ("we," "us," "our," the
"Company" or "MK Gold") for the fiscal year ended December 31, 2001.

PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The following schedule contains the names and certain information regarding all of our directors and executive officers, as of April 29, 2002:

|Name                |  | Age |  | Position                                         
|------------------- |  | --- |  | -------------------------------------------------
|G. Frank Joklik     |  | 73  |  | Chairman of the Board and Chief Executive Officer
|Donald L. Babinchak |  | 66  |  | President                                        
|Ian M. Cumming      |  | 61  |  | Director                                         
|John C. Farmer      |  | 52  |  | Chief Financial Officer, Secretary and Treasurer 
|Larry L. Lackey     |  | 66  |  | Director of Exploration                          
|Thomas E. Mara      |  | 56  |  | Director                                         
|James P. Miscoll    |  | 67  |  | Director                                         
|H. E. Scruggs       |  | 44  |  | Director                                         
|Robert S. Shriver   |  | 48  |  | Director                                         
|Joseph S. Steinberg |  | 58  |  | Director                                         
|Thomas G. White     |  | 58  |  | Manager of Operations                            

G.
Frank Joklik was elected to our Board of Directors in June 1995, and became our Chairman of the Board on June 30, 1998. Mr. Joklik served as our President and
Chief Executive Officer from November 1, 1995 through June 30, 1998. Concurrent with his appointment as our Chairman of the Board, Mr. Joklik took a leave of absence from his
position as our President and Chief Executive Officer in order to fulfill his responsibilities to the Salt Lake Organizing Committee for the 2002 Olympic Winter Games. Mr. Joklik returned from
the leave of absence to his position as our Chief Executive Officer during the second quarter of 1999. Before joining us, Mr. Joklik was the President and Chief Executive Officer of Kennecott
Corporation from 1980 to June 1993, when he retired from Kennecott. He currently serves on the Executive Committee of the Board of Directors.

Donald
L. Babinchak has served as our President since June 30, 1998. Mr. Babinchak has also served as our Director of Human Resources since March 25, 1996.
Mr. Babinchak was formerly Vice President of Human Resources and Administration of Kennecott Corporation. Mr. Babinchak changed from full-time to part-time
employment in November 2001.

Ian
M. Cumming was elected to our Board of Directors in June 1995. Mr. Cumming has served as a Director and Chairman of the Board of Directors of Leucadia National
Corporation since 1978. He also serves as Chairman of the Board of The FINOVA Group Inc. and as a Director of Skywest, Inc., Allcity Insurance Company, HomeFed Corporation and Carmike
Cinemas, Inc. Mr. Cumming serves on the Executive and Audit Committees of the Board of Directors.

John
C. Farmer was appointed our Chief Financial Officer on June 30, 1998. Mr. Farmer has also served as our Controller, Treasurer and Secretary since April 25,
1996. Mr. Farmer was formerly the Chief Financial Officer of Dyno Nobel Inc.

Larry
L. Lackey has been our Director of Exploration since October 1, 1999. Mr. Lackey has also served as our Chief Geologist since August 23, 1995. He was formerly
Regional Vice President-Central America and the Caribbean for Independence Mining Company, Inc. Mr. Lackey changed from full-time to part-time employment in
November 2001.

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Thomas
E. Mara was elected to our Board of Directors on February 10, 2000. Mr. Mara has served as Executive Vice President of Leucadia National Corporation since 1980 and
as Treasurer since 1993. He also serves as a Director for Allcity Insurance Company.

James
P. Miscoll was elected to our Board of Directors in 1993. Mr. Miscoll served as Vice Chairman of Bank of America from 1985 to 1992, when he retired from that position.
Mr. Miscoll also serves as a Director for American International Group, Inc. (senior advisor), WABTEC Corporation (Pittsburgh), 21st Century Industries, East West Bank and Chela
Financial. Mr. Miscoll serves as Chairman of the Audit Committee and serves on the Compensation Committee of the Board of Directors.

H.
E. Scruggs was elected to our Board of Directors in March 2001. Mr. Scruggs has served as Chairman of the Board of Directors of American Investment Bank, N.A. since 1997
and is currently the Chief Executive Officer. He has served as President, Chief Executive Officer and a Director of Empire Insurance Company since March 2000. Mr. Scruggs served as a
Vice President of Leucadia National Corporation from March 2000 through December 2001, Chairman and Chief Executive Officer of Leucadia Film Corporation from June 1995 to
February 1997, was on the faculty of the Department of
Political Science at Brigham Young University from 1991 to 1995 and Chief of Staff to the Governor of Utah from 1985 to 1991. Mr. Scruggs is a member of the Utah Bar.

Robert
S. Shriver was elected to our Board of Directors in 1993. Mr. Shriver is President of RSS, Inc. A television, film and record producer, he is a Director and
Co-founder of the DATA Foundation, a Director of the Crossroads at Antigua Foundation, and a Commissioner of the California State Parks System. Mr. Shriver serves on the
Compensation and Audit Committees of the Board of Directors.

Joseph
S. Steinberg was elected to our Board of Directors in June 1995. Mr. Steinberg has served as a Director of Leucadia National Corporation since 1978 and as President
since 1979. He also serves as Chairman of the Boards of Allcity Insurance Company and HomeFed Corporation, and as a Director of The FINOVA Group Inc., White Mountains Insurance
Group, Ltd. and Jordan Industries, Inc.

Thomas
G. White has been our Manager of Operations since October 8, 1993. Before joining us, Mr. White served as a mining executive for the gold operations of Homestake
Mining Co., located in San Francisco, California.

The
Board of Directors of the Company is divided into three classes, Class I, Class II and Class III, with each class as nearly equal in number as possible. The
Board of Directors has fixed the number of Directors of the Company at eight, three of whom are members of Class I, three of whom are members of Class II, and two of whom are members of
Class III. There is currently one vacancy in Class II. Each class serves three years, with terms of office of the respective classes expiring in successive years. The terms
of the members of Class III, who are Messrs. Mara and Miscoll, expire in 2002, the terms of the members of Class II, who are Messrs. Scruggs and Shriver, expire in 2003,
and the terms of the members of Class I, who are Messrs. Cumming, Steinberg and Joklik, expire in 2004. Our executive officers serve at the pleasure of the Board of Directors.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act requires the Company's Executive Officers and Directors, and persons who beneficially own more than 10% of the
outstanding shares of common stock, par value $0.01 per share, of the Company ("Common Stock"), to file reports of ownership and changes in ownership with the Securities and Exchange Commission and
furnish the Company with copies. Based solely upon a review of the copies of such forms furnished to the Company and written representations from certain reporting persons, the Company believes that
for the year ended December 31, 2001 all

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persons subject to the reporting requirements of Section 16(a) filed the required reports on a timely basis, except that a Form 3 was filed late by Mr. Scruggs to report
that he did not beneficially own any securities of the Company when he was elected to the Board of Directors.

ITEM 11. EXECUTIVE COMPENSATION

The following table sets forth certain summary information concerning compensation paid by the Company and its subsidiaries to the Chief Executive Officer, the
President, and the Manager of Operations and Vice President of the Company (collectively, the "Named Executive Officers") for the years ended December 31, 2001, 2000 and 1999. No other
executive officer of the Company received a total annual salary and bonus in excess of $100,000 during these periods.

Summary Compensation Table

|Name and Principal Position(s)                           |  | Year           |  | Salary ($)              |  | Securities
Underlying
Options (#) |  | All Other
Compensation ($) |    
|-------------------------------------------------------- |  | -------------- |  | ----------------------- |  | --------------------------------- |  | -------------------------- | ---
|G. Frank Joklik
Chief Executive Officer                  |  | 2001
2000
1999 |  | 150,000
150,000
73,269  |  | 

                             |  | 5,143
5,119
18,846         | (a)
|Donald L. Babinchak
President                            |  | 2001
2000
1999 |  | 123,719
130,000
140,231 |  | 

                             |  | 4,363
5,424
5,395          | (b)
|Thomas G. White
Manager of Operations and Vice President |  | 2001
2000
1999 |  | 128,000
128,000
128,000 |  | 

                             |  | 3,974
3,974
5,051          | (c)

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Stock Options

No options to purchase Common Stock were granted to the Named Executive Officers during 2001. The Company has never granted any freestanding stock appreciation
rights. None of the Named Executive Officers exercised any options during 2001.

The
following table provides information as to options exercised by each of the Named Executive Officers during 2001, and the value of options held by such Executives at
December 31, 2001 measured in terms of the average sale price reported for Common Stock on December 31, 2001 ($0.51, as reported on the OTC Bulletin Board).

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Aggregate Option Exercises in 2001
and Option Values at 12/31/2001

|Name                |  | Shares
Acquired On
Exercise (#) |  | Value
Realized ($) |  | Number of Securities
Underlying Unexercised
Options at December 31, 2001
(#)
Exercisable/Unexercisable |  | Value of Unexercised In-the-
Money Options at
December 31, 2001
($)
Exercisable/Unexercisable
|------------------- |  | ------------------------------- |  | ------------------ |  | ------------------------------------------------------------------------------------------------------ |  | ---------------------------------------------------------------------------------------------
|G. Frank Joklik     |  |                                |  |                   |  | 900,000/0                                                                                              |  |                                                                                             
|Donald L. Babinchak |  |                                |  |                   |  | 250,000/0                                                                                              |  |                                                                                             
|Thomas G. White     |  |                                |  |                   |  | 125,000/0                                                                                              |  |                                                                                             

Employment Agreements

The Company has entered into an employment agreement with Thomas G. White that provides for Mr. White's employment as Vice President, Operations on a
year-to-year basis at a salary consistent with the compensation policies of the Compensation Committee. Under this agreement, Mr. White is entitled to participate in all
perquisites and health and welfare benefits available to the Company's other executives and in the Company's long-term incentive plan and executive incentive plan. If there is a change of
control as defined in the agreement, Mr. White will be entitled to be employed for two years after the change in control. If Mr. White is terminated during the two-year
period, the Company will be required to immediately pay Mr. White his base compensation for such period and to immediately vest and pay out any unvested stock options and restricted stock
awards held by Mr. White.

Employee Incentive Compensation and Savings Plans

Executive Incentive Plan.The Company has an Executive Incentive Plan whereby key officers and employees of the Company may
earn bonuses. Participants in the Executive Incentive Plan are selected by the Compensation Committee based on their level of responsibility, salary, and past and prospective contributions to the
business and growth of the Company. Bonus payments are determined by MK Gold's Compensation Committee.

Under
the Executive Incentive Plan, cash awards may be made to individuals from an award fund established annually by the Company. The amount of the award fund will be based on criteria
established by the Compensation Committee. The criteria may be described in terms of Company-wide objectives, such as net income, return on capital and cash flow, or such other or similar
objectives which are related to performance. The amount of the award fund for any year may not in any event exceed 9.55% of the Company's net profit after taxes for such year. Each participant
potentially may receive an award from the award fund up to a specified percentage of the participant's base salary, which percentage generally ranges from 20% to 50% depending on the participant's
base salary and the participant's organizational duties. The Compensation Committee may modify individual awards but in no event may the Compensation Committee increase by more than 50% the award
otherwise payable. Awards are subject to forfeiture if a participant's employment terminates prior to receipt of the award unless termination is due to retirement, death, permanent disability or,
after a change in control of the Company, termination is by the Company for Cause (as defined in the plan) or is by the participant without Good Reason (as defined in the plan). No awards were made
under the Executive Incentive Plan for the year ended December 31, 2001.

Long-Term Incentive Plan.The Company has a Long-Term Incentive Plan whereby officers and employees
of the Company may earn bonuses. Under the Long-Term Incentive Plan, cash awards may be made dependent on a comparison of the Company at the end of an initial 3-year period
(ended December 31, 1996) and each rolling 3-year period thereafter against total shareholder return for other

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companies in the same industry. In the event of a change in control of the Company (as defined in the plan), each active participant would be entitled to receive a pro rata portion of the benefit
payable under the plan for any pending performance period (based on 30-day average closing prices as of the month immediately preceding the month in which the change in control occurs) as
soon as practicable following such change in control. No awards have been made under this Plan.

Stock Incentive Plan.The Company has a Stock Incentive Plan, pursuant to which awards of stock options, stock appreciation
rights and restricted stock may be made to officers and key employees. The Stock Incentive Plan is administered by the Compensation Committee, no voting member of which may be an employee of the
Company or be eligible to receive awards under the Stock Incentive Plan. A maximum of 2,500,000 shares of Common Stock are authorized to be issued pursuant to the Stock Incentive Plan. As of
April 29, 2002, awards covering 2,161,766 shares of Common Stock were
outstanding under the Stock Incentive Plan and 332,034 shares were available for awards under the Stock Incentive Plan. Under the Stock Incentive Plan, awards are not considered to have been made with
respect to options or stock appreciation rights that terminate without being exercised.

Awards
of restricted stock are subject to vesting requirements, and shares of restricted stock generally are not permitted to be sold, pledged, or otherwise disposed of during the period
in which the restrictions exist. Shares of restricted stock otherwise carry full voting and dividend rights from the date of the award. Options awarded pursuant to the Stock Incentive Plan are subject
to vesting requirements. Generally, the exercise price of all options granted under the Stock Incentive Plan is equal to the fair market value at the date of grant.

Generally,
options awarded under the Stock Incentive Plan have a term of 10 years, subject to acceleration in the event of a change in the control of the Company and in certain
other events, including retirement after age 65, death, and disability. Pursuant to the Stock Incentive Plan, the Compensation Committee will review from time to time and may revise any of the
foregoing vesting or other requirements as they apply to eligible participants.

Savings Plan.The Company has adopted a tax-qualified retirement plan ("Savings Plan") with a salary deferral
feature within the meaning of Section 401(k) of the Internal Revenue Code of 1986, as amended (the "Code"). Employees of the Company and of certain affiliates are eligible to participate
in the Savings Plan, provided, among other things, that they are at least 21 years of age and U.S. citizens or lawfully admitted residents.

Pursuant
to the salary deferral feature of the Savings Plan, each participant may elect to reduce his or her compensation by between 1% and 15%, but not more than $11,000 (for 2002) per
year, adjusted for changes in the cost of living and subject to non-discrimination limits under the Code. The Company will contribute these compensation deferrals to the Savings Plan. The
Company has also agreed to match 50% of the first 5% of eligible employee compensation deferrals to the Plan ("Company Matching Contributions"). The Company retains the right to make additional
non-elective Company contributions to help satisfy federal non-discrimination requirements.

Savings
Plan deferrals (including Company Matching Contributions) are allocated to accounts in the name of the participants and invested at their direction in investment funds which have
been chosen by the savings plan committee under the Savings Plan.

A
participant's retirement benefit under the Savings Plan is dependent upon the participant's vested account balance at the time of distribution. The value of such account is dependent
upon how well the participant invests his or her deferrals (including Company Matching Contributions) over the period of time he or she participates in the Savings Plan. Compensation deferrals are
always fully vested. Company Matching Contributions are fully vested upon completion of one year of service, or attainment of age 65, death or total disability.

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Distribution of the vested balance of a participant's account is to be made in a single cash payment within one year after termination of employment, reaching age 65 or death, unless the
account balance exceeds $5,000, in which case distribution is made at age 65 or earlier if the participant consents.

Director Compensation

Cash Compensation.Directors who are not employees of the Company receive a fee of $7,500 per year, plus $500 for each Board
meeting attended, and $250 for each standing committee meeting attended. Non-Employee Directors are also reimbursed by the Company for reasonable and necessary expenses incurred in
connection with their services as Directors of the Company. The Company does not have any consulting agreements with its Directors and no Director received compensation for consulting services during
2001.

Stock Option Plan for Non-Employee Directors.The Company has a Stock Option Plan for Non-Employee
Directors, the purpose of which is to encourage the highest level of performance from those members of the Board of Directors who are not employees of the Company by providing such
non-employee Directors with a proprietary interest in the financial success of the Company. Under the plan, the Company may grant non-employee Directors discounted options to
purchase 30,000 shares of Common Stock.

The
purchase price per share for shares covered by each option award under the Stock Option Plan for Non-Employee Directors is equal to 50% of the fair market value per share
of Common Stock on the date of grant. Options granted under the plan are non-transferable and non-assignable by the participant other than by will or by the laws of descent and
distribution. The options granted under the plan vest over a three-year period in annual increments of one-third on each anniversary of the date of grant for participants who
continue to serve on the Board of Directors. If a participant ceases to be a member of the Board of Directors for any reason except termination for cause, all vested options then held are exercisable
for a period of three years and all unvested options terminate 30 days after the participant ceases to be a member of the Board of Directors. If a participant is terminated for cause, all
vested options are exercisable for a period of 30 days and all unvested options automatically terminate.

Options
for 15,000 shares were granted to each of Messrs. Shriver and Miscoll on December 17, 1993 at an exercise price of $3.09375 per share, all of which have vested in
accordance with their terms. In addition, options for 15,000 shares were granted to Mr. Miscoll on July 14, 1994, at an exercise price of $2.71880 per share, all of which have vested in
accordance with their terms.

Upon
their election to the Board of Directors in June 1995, each of Messrs. Cumming and Steinberg were granted an option under the Stock Option Plan for
Non-Employee Directors to purchase 30,000 shares of Common Stock. Upon his election to the Board of Directors in February 2000, Mr. Mara was granted options under the Stock
Option Plan for Non-Employee Directors to purchase 30,000 shares of Common Stock. Effective August 14, 2000, Messrs. Cumming, Mara and Steinberg entered into Stock Option
Termination Agreements with the Company, pursuant to which their options were terminated. Upon his election to the Board of Directors in March 2001, Mr. Scruggs was not granted any
options under the Stock Option Plan for Non-Employee Directors.

Certain
options held by former directors of the Company remain outstanding, including options for 30,000 shares of Common Stock at an exercise price of $3.09375 and options for 15,000
shares of Common Stock at an exercise price of $2.71880, all of which have vested in accordance with their terms. Unless exercised, options for 15,000 shares at an exercise price of $3.09375 will
expire on December 17, 2003, and the remaining options will expire on August 30, 2002.

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COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

The Compensation Committee consists of three non-employee Directors. During the year ended December 31, 2001, the members of the Compensation
Committee were James P. Miscoll and Robert S. Shriver. There is one vacancy on the Compensation Committee. During the last fiscal year, no executive officer of the Company served as a member of the
compensation committee (or other board committee performing equivalent functions or, in the absence of any such committee, the entire board of directors) or as a director of another entity, one of
whose executive officers served as a member of the compensation committee or as a director of the Company.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth information regarding persons known by the Company to beneficially own, as defined by Rule 13d-3 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), more than 5% of Common Stock as of April 29, 2002, based solely on information regarding such ownership available to the
Company in filings by such beneficial owners with the SEC on Schedules 13D and 13G. The following table also sets forth information regarding beneficial ownership
of Common Stock as of April 29, 2002 by the Directors and the Named Executive Officers and by the Directors and Executive Officers as a group.

|Name and Address
of Beneficial Owner(a)                                                                                                                                                                                                       |  | Number of Shares and Nature
of Beneficial Ownership(b) |     | Percent Of
Class
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------ | --- | ----------------
|Certain Beneficial Owners:                                                                                                                                                                                                                    |  |                                                        |     |                 
|Leucadia National Corporation
315 Park Avenue South
New York, NY 10010                                                                                                                                                                        |  | 27,212,735                                             |     | 72.8            
|Group consisting of:
Special Situations Fund III, L.P.,
Special Situations Cayman Fund, L.P.,
MGP Advisors Limited Partnership,
AWM Investment Company, Inc.
Austin W. Marxe and
David Greenhouse
153 East 53 Street
New York, New York 10022 |  | 3,420,300                                              | (c) | 9.1             
|Directors:                                                                                                                                                                                                                                    |  |                                                        |     |                 
|H.E. Scruggs                                                                                                                                                                                                                                  |  |                                                       |     |                
|T.E. Mara                                                                                                                                                                                                                                     |  |                                                       |     |                
|J.P. Miscoll                                                                                                                                                                                                                                  |  | 82,100                                                 | (d) | *               
|R.S. Shriver                                                                                                                                                                                                                                  |  | 60,000                                                 | (e) | *               
|I.M. Cumming                                                                                                                                                                                                                                  |  |                                                       | (f) |                
|J.S. Steinberg                                                                                                                                                                                                                                |  |                                                       | (f) |                
|G.F. Joklik                                                                                                                                                                                                                                   |  | 1,000,000                                              | (g) | 2.7             
|Nondirector Named Executive Officers:                                                                                                                                                                                                         |  |                                                        |     |                 
|D.L. Babinchak                                                                                                                                                                                                                                |  | 260,000                                                | (h) | *               
|T.G. White                                                                                                                                                                                                                                    |  | 131,575                                                | (i) | *               
|All Directors and Executive Officers as a Group (11 persons)                                                                                                                                                                                  |  | 1,880,675                                              | (j) | 5.0             

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Four of the Directors of the Company are affiliated with Leucadia National Corporation, which owns 72.8% of the outstanding shares of Common Stock:
Mr. Cumming is Chairman of the Board and a principal shareholder of Leucadia; Mr. Steinberg is a Director, President and a principal shareholder of Leucadia; Mr. Mara is Executive
Vice President and Treasurer of Leucadia; and Mr. Scruggs is President, Chief Executive Officer and a Director of Empire Insurance Company, a subsidiary of Leucadia, and Chairman of the Board
of Directors and Chief Executive Officer of American Investment Bank, a subsidiary of Leucadia.

In
March 1998, the Company entered into a $20 million credit agreement (the "Credit Facility") with Leucadia. The Credit Facility may be terminated on December 15 of
any year, provided Leucadia notifies the Company of such termination prior to September 15 of such year. The Credit Facility will expire on January 2, 2003, unless terminated earlier.
The Credit Facility was amended, effective March 1, 2000, to increase the credit limit to $30 million, and, effective July 1, 2001, to increase the credit limit to
$35 million. At December 31, 2001, the Company had outstanding borrowings under the Credit Facility of $29 million. Loans outstanding under the Credit Facility bear interest equal
to the prime rate, payable quarterly. At December 31, 2001, the published prime rate was 4.75%. In addition, the Company is required to pay a commitment fee to Leucadia equal to 0.375% per
annum of the available balance under the Credit Facility, payable quarterly. Total interest and commitment fees paid by the Company to Leucadia during 2001 pursuant to the Credit Facility were
$1,859,000.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

| |  | MK GOLD COMPANY
| |  | ---------------
| |  | By:            

Date:
April 30, 2002

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