Kirkland Lake Gold (KL)

[NYBob]

Kirkland Lake gold production hits record high -
Cecilia Jamasmie | about 4 hours ago |


Q4 production las year was above target levels for the quarter, driven
partly by record quarterly production at Fosterville mine, pictured here.
(Image courtesy of Kirkland Lake Gold.)


Canada’s Kirkland Lake Gold (TSX. NYSE: KL) announced Tuesday record
gold production 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 Toronto-based miner produced 723,477 ounces of gold last year,
a 21% increase from the 596,405 ounces generated in 2017.

The miner has embarked on a growth plan that could see it generate
1-million ounces of gold a year from 2021.

Production in the last three months of 2018 reached 230,993 ounces,
28% higher than the previous record of 180,155 ounces achieved
in the previous quarter.
The increase was driven by record quarterly production at both
Fosterville (124,307 ounces) and Macassa (69,936 ounces) mines, the
company said. Taylor, the company’s newest gold mine,
contributed 58,633 ounces.

“2018 was an outstanding year for Kirkland Lake Gold,”
President and Chief Executive Officer Tony Makuch said
in the statement.
“A key part of our progress has been the continued transformation of
Fosterville into one of the world’s greatest gold mining operations.”

Makuch noted his company had embarked on a growth plan that could see
the Kirkland generate 1-million ounces of gold a year from 2021.

For 2019, the miner expects to produce between 740,000 and
800,000 ounces; 850,000 oz to 910,000 ounces next year; and
between 945,000 and 1-million ounces in 2021.

http://www.mining.com/kirkland-lake-gold-production-hits-record-high/

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