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Something is happening to the share price right now. Volume is up also....
Bulked up Kirkland Lake production jumps 18%
In the first quarter of this year, Kirkland Lake Gold produced 330,864 oz. of gold, an 18% increase from 279,742 oz. generated in the prior quarter, largely driven by a contribution from the Detour open pit in Ontario, following closing of company’s acquisition of Detour Gold at the end of January.
The Detour mine contributed 91,555 oz. in the quarter, while Fosterville in Australia continued to deliver the most ounces for the company, churning out 159,864 oz. at an average head grade of 42.4 g/t gold.
Macassa’s output of 50,861 oz. was a 10% decrease over the 56,379 oz. produced in the fourth quarter of last year, largely due to lower mill throughputs from disruptions caused by COVID-19.
Due to the threat of covi-19, Kirkland Lake is operating the Detour Lake and Macassa mines in Ontario at reduced levels until the end of April, while Fosterville continues to run at full capacity, with health and safety protocols in place.
Operations at the Holt Complex, the company’s smallest ounce generator, have been suspended until the end of this month.
“We increased production year over year, even before adding in the contribution from Detour Lake mine since January 31, 2020. Production growth was once again driven by Fosterville, where we continue to achieve strong grade performance from the Swan Zone,” Tony Makuch, the company’s president and CEO, said in a release.
Makuch added that exploration drilling across the company’s sites has been suspended as part of its covid-19 protocols. Kirkland Lake plans to drill at Fosterville, Macassa and Detour Lake later this year to grow its reserve inventory.
Since adding Detour Lake to its asset portfolio, Kirkland Lake has been working to update the resource model, optimize drilling and blasting, evaluate alternative mine plans and improve operations at the site.
The company closed out the quarter with C$530 million of cash and no debt.
The company’s stock traded up 6% on Thursday on the NYSE. Kirkland Lake’s market value is $10.2 billion.
(This article first appeared in the Canadian Mining Journal)
https://www.mining.com/kirkland-lake-reports-q1-production-of-330864-oz/?utm_source=Daily_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=[[post.post_title]
Not unusual, especially given what's going on. I wouldn't worry about it at this point.
NOTIFICATION OF LATE FILING filed for TPTW
https://www.otcmarkets.com/filing/html?id=14039828&guid=MqiWUnjLcZXYq3h
Coronavirus Anxiety Cannabis Sales Could Trigger Sector Resurgence
March 23, 2020 -- InvestorsHub NewsWire -- via NextBigTicker -- The Coronavirus Crisis is causing mass anxiety. People are concerned about their health and the health of others they love, not to mention concern for the jobs and maybe a little cabin fever. Mass anxiety is likely the reason for recent record cannabis sales. Multiple reports are out on dramatic CBD and Marijuana sales spikes. An ABC News story reported a 159% increase in cannabis sales in California. The State of California has declared cannabis stores as “essential” business operations that can remain open during the Coronavirus shutdown.
Cannabis stocks have struggled over the last year as the promising but more sober reality of the cannabis sector opportunity has replaced the initial exuberance that came with recreational legalization in Canada in 2018. Oddly, a global crisis could be the catalyst that triggers a cannabis sector resurgence.
Micro-cap cannabis stocks will be more likely to enjoy the initial opportunity generated by the apparent Corona driven increased demand for cannabis. Smaller companies are generally more nimble and can adapt faster to change and sudden opportunity. It also takes less opportunity to move the needle for a smaller company. A sustained increased demand may later impact larger cannabis sector companies.
Puration, Inc. (USOTC: PURA) and North American Cannabis Holdings, Inc. (USOTC: USMJ) have already reported increased sales. Hemp, Inc. (USOTC: HEMP) and Sugarmade, Inc. (OTCQB: SGMD) could also benefit from the increased demand. It’s worth doing your research and finding a list of other micro-cap cannabis companies that could also benefit. Now could be the time to buy beleaguered stocks in the micro-cap cannabis sector and potentially benefit from a PPS jump triggered by increased sales coming out the Corona Crisis.
View source version on Investorshub.com: https://ih.advfn.com/p.php?pid=nmona&article=82059492
Good words of wisdom Don. I refused to sell when $GNPX was dumping as I believe in the company and see value in waiting on FDA updates. It was oversold and grossly under priced (similar to so many others) and I'm happy to see the price rising. Congrats to those that held on!
I agree, I'm holding and adding as I can waiting on financials and news. Seems hard to lose at these levels.
Doubtful this hits trips. I think these current prices are a gift and have good support. Let's see where this is in a few weeks.
Here's the February Changes
Authorized Shares: 1,000,000,000 02/03/2020
Outstanding Shares:
474,933,321 02/28/2020
339,241,044 02/14/2020
236,459,772 02/03/2020
Restricted
116,816,683 02/28/2020
116,816,683 02/14/2020
116,816,683 02/03/2020
Unrestricted
358,116,638 02/28/2020
222,424,361 02/14/2020
119,643,089 02/03/2020
Float
73,118,465 01/17/2020
Yeah, don't see that happening this time. Just look at the past month. What's the catalyst to send this north that can overcome tripling the Unrestricted Outstanding Shares from Feb 3rd to 28th?
Just to clarify. I expect a share structure update Friday the 13th on OTCMarkets.com. Not sure about a PR though
The Feb 28th issuance was painful. This Friday the 13th is my best guess for next share structure update. Going nowhere until they are done with dilution
Cresco Labs proposed Sunnyside* Dispensary in the prized River North neighborhood of Chicago https://www.businesswire.com/news/home/20200309005309/en/
CHICAGO--(BUSINESS WIRE)--March 09, 2020--
Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it has received its special use approval from the Zoning Board of Appeals (the "ZBA") for its dispensary located at 436 N. Clark St. in the prestigious River North neighborhood of Chicago (the "Dispensary"). The Dispensary is one of the two licenses Cresco won in the Central District in Chicago's lottery, as announced on November 15, 2019, and one of the only two city-approved adult-use dispensaries in downtown Chicago to date. The Dispensary will be Cresco's sixth Sunnyside* location in Illinois. Cresco has licenses to open an additional four dispensaries and has so far announced its intention to open locations in the Gold Coast neighborhood of Chicago, Danville, Il and South Beloit, Il.
"Cresco has a long history of being first to market in new jurisdictions. Our ability to execute quickly and efficiently in a highly regulated, complex industry has always been a core strength of the Company. We are proud to have received zoning approval in another step in the process to open an adult-use dispensary in downtown Chicago, " said Charlie Bachtell, Cresco Labs CEO and Co-founder. "Earning the right to operate in this highly coveted location is both a privilege and a significant opportunity for Cresco. The Dispensary is minutes from the Magnificent Mile, one of the busiest shopping districts in the United States. On a personal note, it is also minutes from Cresco's corporate headquarters, and I couldn't be more excited about Sunnyside* potentially having a flagship dispensary in this neighborhood."
Despite a limited number of dispensaries open across the state and ongoing supply shortages, the Illinois adult-use market is proving to be as robust as forecasted with $74 million in sales during the first two months(1) . Illinois is expected to be a $2 - $4 billion dollar market at maturity(2) . To strengthen its leading market share in the Illinois, Cresco is nearing completion of a significant expansion that will bring total cultivation to 243,000 square feet of cultivation and will considerably increase supply to support its dispensaries and wholesale distribution across the state. Cresco is able to expand its three cultivation facilities to an aggregate total of 630,000 sq. ft. of flowering canopy -- the largest capacity footprint allowed in the state(3) . Cresco currently sells into 100% of licensed dispensaries in Illinois and has maintained its leading market share of wholesale sales in the state.
The final step of the approval process for Cresco's River North Sunnyside* Dispensary is an inspection by the State of Illinois Department of Financial and Professional Regulation and being awarded an Adult Use Dispensing Organization License.
About Cresco Labs:
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods ("CPG") approach to cannabis, Cresco's house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy's, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco's national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco has launched the industry's first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could, ' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential' or 'continue' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the company's CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco's shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
(1) https://www.idfpr.com/
(2) Illinois is projected to be a $2-4 billion dollar market at maturity according to Marijuana Business Daily making it one of largest cannabis markets in US.
(3) State of Illinois, Department of Agriculture cannabis cultivation licenses
View source version on businesswire.com: https://www.businesswire.com/news/home/20200309005309/en/
CONTACT: Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
Investors:
Aaron Miles
Vice President, Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
I'm adding shares on this $GNPX dip today. This is a gift if you ask me. Check out the DD and you will agree!
Tell me about it. Didn't see this coming. Will be buying hopefully near the bottom.
GNPX is doing well premarket this morning. Should set the stage for another great day!
What makes you think we are near the end? I've been hearing that for weeks now from folks all the while the share price has been falling...
Authorized Shares:
300,000,000 01/08/2020
Outstanding Shares:
02/21/2020 203,433,103
02/14/2020 193,764,267
02/12/2020 184,144,267
02/10/2020 180,828,386
02/07/2020 180,808,386
02/06/2020 164,536,620
02/03/2020 154,070,714
01/30/2020 146,747,990
01/24/2020 126,722,715
01/22/2020 115,270,707
01/21/2020 109,792,083
01/17/2020 109,792,083
01/15/2020 99,000,000?
01/08/2020 90,872,214
01/06/2020 86,553,209
01/03/2020 86,553,209
01/02/2020 82,439,479
12/30/2019 82,439,479
12/27/2019 75,443,167
12/23/2019 71,863,167
12/20/2019 68,463,167
12/18/2019 56,630,000
11/22/2019 28,369,800
I can buy shares with my E-Trade Roth IRA, not sure about 401k
Beautiful volume on $GNPX. Over $100M traded today.
Rightfully so
I'm extremely happy with the progress over the last two weeks, but I am not selling at these levels. I am waiting for the big news that causes this to blast into dollarland. I will shave off 10% then and see where we go. Planning to hold half for the long term and see where we go.
Kudos to you for holding on thru this bumpy ride. Long and strong!
Agreed. I saw the small uptick after hours yesterday, then the huge run this morning and got really excited for today. The timing for offering was unfortunate, but I was able to double my position with shares below $4 for the next run up. Hard to complain about that. Started accumulating at $1.36, so I am still in a good place
$KL Q4 earnings are expected to be announced after market hours today. Any guesses here on what to expect?
$KL Q4 earnings are expected to be announced after market hours today. Any guesses here on what to expect?
You bring up some great points. I'm happily buying these $KL dips for the long hold. The Detour deal is providing some short term pain, but the long term potential is amazing. Great loading zone here
PAUL has moved up, so lets get this party started. 40's are a gift!
We will see some consolidation at each new level, but nothing indicates that much of a drop. Wishful thinking?
I'm happy to be invested in the company that could clear the way for more mainstream stem cell usage across America. Stem Cells can do some amazing things that drugs never will.
The $GNPX chart is a thing of beauty. We should see some big moves when FDA decision comes in next few weeks. The new 52 week high today should attract some more attention here.
You would be crazy to sell $GNPX right now. We have good news and just hit a new 52 week high today. The chart is a thing of beauty!
$KL Kirkland Lake Q4 earnings are expected to be announced after market hours on 2/19/20. Current price is down, Looking like a great entry point. Keep a close eye on this on as it looks like we are close to bottom here.
Awesome $HENC chart. This looks like it's ready to make another run here shortly. Heard of lots of loading today on the dips.
Been watching all day waiting for the pm shift. $HENC does very well after lunch. You ready?
$CRLBF is sitting on years worth of liquidity while others are cash strapped. Own the exceptions.
https://www.marketwatch.com/story/from-cash-to-ash-pot-companies-have-just-months-to-live-on-average-study-finds-2020-02-11?mod=mw_share_twitter
Doubtful. $HENC looks like small (-5%) consolidation & accumulation before the next run up. She tends to do this every morning and then heads north after lunch. Great place to buy shares IMO
Great video showing why $KL recent drop creates a great bargain for buyers. I totally agree and have been buying shares on this recent dip. Hard to lose at these levels.
Let's hope so. We had our dip, now it's time to rip!
Peeps better hope they have enough shares if they drop Attorney-letter-or 8K because it will run hard