Wednesday, April 3, 2019

Kirkland Lake Gold - KL.t

Kirkland Lake Gold - KL.t owns the five former high grade mines that produced 22 million ounces of gold at an average grade of 15.1 grams per tonne. The company is a mid-tier gold producer that far surpassed it's target of 620,000 (723,000) ounces of gold production in 2018 from mines in Canada and Australia.
On Jan 8, 2019 the company released News

Kirkland Lake Gold Ltd. today announced record levels of quarterly and annual gold production for the fourth quarter (“Q4 2018”) and full-year (“2018”) of 2018, respectively. Production in Q4 2018 totaled 230,993 ounces, 28% higher than the previous record of 180,155 ounces achieved in the third quarter of 2018 (“Q3 2018”). Q4 2018 production was significantly above target levels for the quarter and was driven by record quarterly production at both Fosterville (124,307 ounces) and Macassa (69,936 ounces). Production in 2018 totaled 723,477 ounces, a 21% increase from 596,405 ounces for full-year 2017 (“2017”). Three of the Company’s mines achieved record annual production in 2018, including 356,230 ounces at Fosterville, 240,126 ounces at Macassa and 58,633 ounces at the Taylor Mine, with the Holt Mine producing 67,770 ounces for the year. The Company’s cash position at December 31, 2018 totaled approximately $332 million.