-=Kirkland Lake Gold (KL) reported earnings on Wed 21 Feb 2018 (b/o)

• Kirkland Lake Gold Inc., based in Toronto, owned and operated several gold mines in Canada and Australia. In February 2022, it merged with Agnico Eagle Mines Limited in an all-stock deal with Kirkland's stocks being delisted.

 

Kirkland Lake Gold reports mineral reserves increased 36% YoY 

Highlights of December 31, 2017 Mineral Reserve and Mineral Resource estimates:

• Consolidated Mineral Reserves increase 36% to 4,640,000 ounces @ 11.1 grams per tonne ("g/t") versus 3,420,000 ounces @ 9.0 g/t at December 31, 2016.
• Mineral Reserves at Fosterville increase 1,210,000 ounces or 247% from December 31, 2016 to 1,700,000 ounces @ 23.1 g/t (65% increase in Mineral Reserve ounces from June 30, 2017 mid-year estimate); Measured and Indicated ("M&I") Mineral Resources increase 59% from December 31, 2016 to 4,190,000 ounces @ 8.4 g/t (inclusive of Mineral Reserves); Inferred Mineral Resources more than double to 1,900,000 ounces @ 7.1 g/t.
• Fosterville Swan Zone Mineral Reserves more than double from June 30, 2017, to 1,160,000 ounces @ 61.2 g/t. M&I Mineral Resources total 171,000 ounces @ 116.0 g/t; Inferred Mineral Resources total 671,000 ounces @ 36.6 g/t. Large base of high-grade Mineral Resources highlights potential for additional growth in Mineral Reserves in 2018.
• Mineral Reserves replaced at Macassa after depletion of 190,000 ounces, with Mineral Reserves at December 31, 2017 totaling 2,030,000 ounces @ 21.0 g/t.
  58% increase in M&I Mineral Resources at Macassa to 2,090,000 ounces @ 17.1 g/t, with Inferred Mineral Resources increasing 48%, to 1,370,000 ounces, @ 22.2 g/t. 
• Taylor mine Mineral Reserves increase 29% to 167,000 ounces @ 4.8 g/t; exploration drilling continues to focus on identifying new areas of gold mineralization near infrastructure. 

-=Kirkland Lake Gold (KL)

• Headquarters: Toronto, Canada
• Founded: 1983
• (TSX:KL) (NYSE: KL) (ASX: KLA)
• klgold.com

Kirkland Lake Gold announces its full-year guidance for 2018 

Highlights of 2018 guidance include: 

• Production growth to over 620,000 ounces
• Exploration expenditures estimated at $75 -- $90 million in 2018, with $60 -- $75 million targeted for Australia aimed at achieving continued growth of the Swan Zone and other high-potential areas at Fosterville, and in support of resuming operations at the Cosmo mine in the Northern Territory
• Sustaining capital expenditures of $150 -- $170 million, with higher sustaining capital expected at Fosterville related to elevated levels of development in support of mining to lower depths, establishing additional mining fronts and sustaining operations over multiple years
• Growth capital expenditures of $85 -- $95 million, with key capital requirements including expenditures for a new shaft (see section, Macassa Shaft Project) and tailings impoundment area at Macassa, as well as the bulk of growth capital required at Fosterville to achieve the mine's target of over 400,000 ounces of annual production by 2020.