The company's revenue grew 54% to a record $304.9 million.
Kirkland Lake Gold Mining News
Barrick's South Arturo loses top spot, two other Barrick mines dropped from top 10 ranking.
Drilling east of the South Mine Complex has returned 118.8 g/t gold over a 2 metre core length.
Inferred resources total 610,000 tonnes averaging 16.7 g/t gold for 328,000 contained oz. of gold.
Kirkland Lake Gold chairman Eric Sprott has announced his retirement, effective after the annual meeting on May 7.
The company has started a preliminary economic assessment which it expects to complete by year-end.
It is the 34% increase in the Fosterville Mineral Reserve grade that is driving the million-ounce revised production guidance.
The Canadian gold miner announced record gold for both 2018 and the fourth quarter of the year, thanks mainly to higher-than-expected output at its Australian Fosterville mine as well as its Ontario-based Macassa and Taylor operations.
The company expects to produce at least 330,000 oz. gold in 2018 at Fosterville.
Based on the improved outlook for Fosterville, the Toronto-based miner now anticipates that its full-year 2018 consolidated production will exceed the current target range of 655,000 – 670,000 ounces.
The skyline of Kirkland Lake changed recently when the 65-metre-tall concrete headframe for Kirkland Lake Gold’s new Macassa No.4 shaft was slip formed in just 10 days.
The move also expands Kirkland’s ownership of interest in the Urban Barry area of northwestern Quebec, which the company believes to be “highly prospective mining camp" in Canada.
Number one is located Downunder.
Canadian gold miner Kirkland Lake Gold Inc said its quarterly gold production rose 56 percent. Quarterly gold production rose to 23,466 ounces, from 14,995 ounces, a year earlier. The Ontario-based company said it produced a record 10,175 ounces of gold for the month of April. Image by Kirkland Lake Gold
Gold miner Kirkland Lake posted a quarterly profit that trailed estimates, hurt by higher expenses and lower-than-expected production, and cut its full-year production view. The company lowered its fiscal 2011 production view to 80,000-85,000 ounces of gold from 90,000-100,000 ounces. Photo
ONTARIO — Canada welcomes a new, high-grade gold mine, the South mine complex of Kirkland Lake Gold, into the ranks of producers….more at Canadian Mining Journal
Kirkland Lake Gold Inc.'s Macassa Mine, located in the prolific Kirkland Lake camp, is due to see a flurry of new mining activity from a recent commitment to bring the South Mine Complex into production…more […]