Kirkland Lake Gold (KL)

[NYBob]

Kirkland’s $4.9-billion purchase of Detour Gold wins shareholder approval
NIALL MCGEEMINING REPORTER
PUBLISHED 49 MINUTES AGO
UPDATED JANUARY 28, 2020
COMMENTS


Shareholders at both Detour Gold Corp and Kirkland Lake Gold Ltd have voted definitively in favour of Kirkland's acquisition of Detour.

The $4.9-billion acquisition was announced in November.

Initially received with shock on the part of many of Kirkland's shareholders, over the past few months, the company managed to win over the skeptics.

The deal sees Kirkland, the most profitable senior gold miner of the past five years, acquire Detour, a single asset miner that has long struggled to mine gold profitably.

By buying Detour, Kirkland will see its average cost to mine an ounce of gold rise, but its reserves will go up materially. Replacing depleting reserves is one of the biggest challenges gold company faces, and goes a long way to explaining why mergers and acquisitions have come roaring back in the gold industry.

Over the past few years, senior gold miners have aggressively started consolidating again, after about seven years of sitting on the sidelines. Barrick Gold Corp. and Newmont Mining have collectively acquired US$16-billion worth of assets since the fall of 2018.

The buyside has also been encouraging single asset miners to seek out suitors. The singletons are struggling exponentially more than seniors in attracting capital, and are widely seen as far too risky for many investors. As part of a larger and better diversified senior, single asset miners generally become a much more attractive investment proposition.

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RELATED TOPICS
DETOUR GOLD CORPORATION

KIRKLAND LAKE GOLD LTD.

$GOLD - LT Long Term -






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timetravelerdos thank you, it will be Happy New Years for all Shareholders of
Kirkland Lake Gold and Detour Gold Corporation a great fusion and
amalgamation by Detours who owns and operates
the Detour Lake mine, a long life large-scale open pit operation
in the mining-friendly jurisdiction of northern Ontario.
Currently, Detour Lake is one of the largest gold producing mines
in Canada with production exceeding 600,000 ounces per year and
mineral reserves of 15.4 million ounces of gold.

Detour Gold is in a position to deliver long-term shareholder value
with its growing cash flow profile, organic growth initiatives, and
significant potential for further exploration discoveries
on its large land package.

The Company is dedicated to responsible mining and to the highest safety
and environment standards while having a strong commitment to the
communities we operate and live in.

https://s22.q4cdn.com/327131108/files/doc_presentations/2019/12/DGC_19_12_3-4-Scotia-Corporate-Presentation.pdf

https://s22.q4cdn.com/327131108/files/doc_presentations/2019/11/DGC_19_11_25-KL-and-DGC-Corporate-Presentation.pdf

https://www.detourgold.com/home/default.aspx

https://s23.q4cdn.com/685814098/files/doc_presentations/2019/12/ScotiapresentationDec22019v3.pdf



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Gold & Silver is the only REAL Legal Tender -

by The Founding Fathers for your -

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Ps.
opinion appreciated
TIA