$Kirkland Lake Gold Announces Filing of Amended and Restated Detour Lake Mine Technical Report
https://www.kl.gold/news-and-media/default.aspx
TORONTO, Oct. 20, 2021 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that it has filed on SEDAR an amended and restated National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report (the “Amended Report”) with respect to the updated Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) released on September 2, 2021 (the “Mid-Year 2021 Mineral Resource Estimates”).
As with the original technical report filed on October 15, 2021, the Amended Report is entitled, “Detour Lake Operation, Ontario, Canada, NI 43-101 Report” and is effective as of July 26, 2021.
There are no material differences between the Amended Report and the original technical report and there are no differences in the Mid-Year 2021 Mineral Resource Estimates.
The Amended Report includes revisions to address formatting issues affecting the presentation of Tables 1-3, 1-4, 14-23 and 14-24.
This Amended Report replaces the previously filed technical report.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021.
The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
Risks and Uncertainties
The exploration, development and mining of mineral deposits involves significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Kirkland Lake Gold is subject to several financial and operational risks that could have a significant impact on its cash flows and profitability. The most significant risks and uncertainties faced by the Company include: the price of gold; the uncertainty of production estimates (which assume accuracy of projected grade, recovery rates, and tonnage estimates and may be impacted by unscheduled maintenance, labour and other operating, engineering or technical difficulties with respect to the development of its projects, many of which may not be within the control of the Company), including the ability to extract anticipated tonnes and successfully realizing estimated grades; the threat of outbreaks of viruses or other infectious disease, including COVID-19; changes to operating and capital cost assumptions; the inherent risk associated with project development and permitting processes; the uncertainty of the mineral resources and their development into mineral reserves; the replacement of depleted reserves; foreign exchange risks; changes in applicable laws and regulations (including tax legislation); reclamation obligations; regulatory; tax matters and foreign mining tax regimes, as well as health, safety, environmental and cybersecurity risks. For more extensive discussion on risks and uncertainties refer to the “Risks and Uncertainties” section in the December 31, 2020 Annual Information Form and the Company’s MD&A for the period ended December 31, 2020 filed on SEDAR and on EDGAR.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute ‘forward looking
statements’, including statements====can be upgraded to mineral
reserves through continued exploration and positive economic
assessment.
Information Concerning Estimates Of Mineral Reserves And Measured, Indicated And Inferred Resources
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on
Agnico merger, electrification
Amanda Stutt | October 13, 2021 | 12:17 pm News Canada Gold
Tony Makuch. Credit: Kirkland Lake Gold
Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KLG), Tony Makuch, as its keynote speaker.
Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM), with Makuch, soon to be CEO of the new Agnico Eagle.
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As part of session moderated by Henry Lazenby, multimedia content producer with CMJ’s sister publication, The Northern Miner, Makuch fielded questions from the audience, including those about why Agnico Eagle did not offer a sizeable premium on the Kirkland Lake share price.
“Kirkland Lake Gold has a track record of growing itself as a company,” he said. “In making a premium deal, you have to see new value that can be created. If we insisted on a premium, it’s the same as me saying to shareholders we haven’t created the value we could have for you.”
The mega-merger was announced on Sept. 28 – a deal that will create a high quality, senior producer with 48 million oz. of gold in reserves. The boards of both companies have approved the arrangement, and current Agnico CEO Sean Boyd will become chair of the board.
The deal carries $2 billion worth of savings through synergy. But where will they come from?
According to Makuch, savings can be found by sharing exploration knowledge, technology, processing opportunities, infrastructure, and the support of local communities and regulators both Agnico Eagle and Kirkland Lake have.
If Kirkland Lake embarks on a project that might take it three or four years, such as creating a smart mine, Makuch said they would look to an Agnico mine where it has already been done, and the implementation timeline would be shortened.
“Unlocking technology will play a big part in reducing costs,” Makuch said. “We rely on exploration technology to drive value in our industry. . . If we can find an ounce of gold for $5 or $10, then upgrade the resources for $150 an ounce, you have created value.”
Likewise, technology and R&D will play a big part in unlocking synergy.
The merger is worth an estimated $13.5 billion as Kirkland Lake shareholders will receive 0.7935 of an Agnico Eagle common share for each of their shares.
Kirkland Lake’s strengths are the Macassa and Detour Lake gold mines in Ontario and the Fosterville gold mine in Victoria, Australia. Agnico Eagle has built its strength on the Meadowbank, Canadian Malartic, Goldex, Hope Bay, LaRonde, and Meadowbank gold mines in Canada. The company also has gold mines in Mexico (Pinos Altos and La India), and Finland (Kittila). Both companies have pipeline projects that create a synergy for the future.
Aggressive exploration to continue
“The new Agnico Eagle is always going to be an aggressive explorer, and we have the capital resources to do that,” he added.
Makuch also sees advantages to electrifying underground beyond savings on ventilation, based on experience implementing battery electric equipment at Kirkland Lake’s operations in Ontario.
“Such trucks are already fitted with computers. (That’s) how we can create a smart or autonomous piece of equipment. Then you can connect them all and create a smart mine,” he said.
The merged Agnico-Kirkland Lake will maintain the goal of net-zero carbon emissions by 2050 or before.
“We can get to net zero if we close all our mines,” Makuch said, “but we want to operate our mines.” That means improving processes, going electric, adopting smart technologies, and always seek sustainability.
“The big challenge is people. Innovations and change need trained people and people with new skills,” he said. He wants the new company to get away from underground diesel engines and the exposure of people to diesel exhaust fumes.
He said that to create a sustainable business, part is technology, and part is how people and the environment are treated, how processes are improved, how business support can be more efficient – at the same time keep costs at the low end of the industry.
“Over the next few years, there are going to be exciting times,” Makuch promised.
A load of ideas for the future
Besides keynote speaker Tony Makuch, the morning keynote at CMJ Reimagine Mining Symposium was given by George Hemingway, managing partner and head of innovation practice at Stratalis. He spoke on how to harness trends to get mining’s message to the public.
There were future-focused panels on the pathway to decarbonization in mining; how to get the public to view mining positively sponsored by SRK; as well one on capturing data beyond line of site sponsored by Emesent. Also looking to the future, speaker Brad Terhune of Costmine offered pointers for estimating project costs, and Don Duval of Norcat outlined how mining companies are speeding up their adoption of technology.
CMJ thanks all its sponsors including Sandvik (global), Eaton (silver), Eaton (silver), BBA (bronze) and KalTire (bronze) and corporate presenter Exyn Technologies.
Links to recordings of the symposium will be available on the CMJ website next week, and coverage of the event will be included in our December issue.
Market Analysis » Just 72 Hours from Anarchy – Bill Holter
Just 72 Hours from Anarchy – Bill Holter
By Greg Hunter On October 12, 2021 In Market Analysis 4 Comments
By Greg Hunter’s USAWatchdog.com
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bigone Note; The Beginning Of The End" | Alasdair MacLeod
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$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“C“Agnico Eagle Mines Limited”.
ompany”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”)
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Tony Makuch, President and CEO of Kirkland Lake Gold, stated, “We are
very pleased and excited to be entering into a combination with
Agnico Eagle.
It is a unique ‘strength-on-strength’ transaction that combines the two
global gold producers with the best track records for increasing per
share value.
The deal creates an industry leader with a dominant position in the
Canadian market that is deserving of a premium valuation and is poised
to generate superior long-term shareholder value going forward.
The transaction represents a true merger of equals, with the business of
both companies to benefit from the significant financial strength of
the merged company, the extensive pipeline of development and
exploration projects to drive future growth, and the potential to
realize significant operational and strategic synergies along the
Abitibi-Kirkland Lake corridor.
It is the right deal for our company and its shareholders, our people,
the communities where we operate, and all of our key stakeholder
groups.”
Strategic Rationale for the Merger
Key strategic, financial and operational advantages of the combined
business include:
Creates the Highest Quality Senior Gold Producer –
The Merger will create the industry’s highest-quality and
lowest-risk senior gold producer.
With expected production of approximately 3.4 million ounces in 2021
at the lowest all-in sustaining costs per ounce amongst the senior gold
producers, the Company remains focused in low-risk jurisdictions and
regions with high geological potential.
Maintains a Proven and Trusted Senior Leadership Team and Board with a
Strong Track Record of Creating Value Per Share –
The combined leadership team will maintain the consistent and proven
strategy of growing both production and profitability per share.
Extends Industry Leadership in ESG and Enhances the Capacity to Make
Longer Term ESG Focused Investments –
The combined entity will be a leader in energy performance and
GHG emissions intensity, with a commitment to be Net Zero by 2050 or
earlier.
Enhances Position in one of the Most Prolific and Prospective Gold
Regions in the World– The Merger solidifies the new Agnico Eagle as
Canada’s leading gold producer, with expected annual production in
the country of approximately 2.5 million ounces in 2021
(on a pro forma basis).
The combined portfolio will be anchored by high-quality gold production
in Ontario, Quebec and Nunavut in Canada, as well as at
Fosterville in Victoria, Australia, Kittila in the Lapland region of
Northern Finland and Pinos Altos and La India in Northern Mexico.
Drives Fundamental Value Creation from Significant Unique Synergies
Estimated at $0.8B over 5 Years and $2B over 10 Years (Pre-Tax) –
The Merger provides a unique opportunity to unlock significant
operational and strategic synergies along
the Abitibi-Kirkland Lake corridor and to leverage sector-leading
technical expertise to surface additional value across the portfolio.
Highlights Track Record of Growing Mineral Reserves and Mineral
Resources –
The Merger combines the only two major gold companies to have grown
mineral reserves and production per share over the last 10 years
through consistent investment in exploration and value-added
acquisitions, with total mineral reserves increasing by 127% from
2011 to 48 million ounces at December 31, 2020 (on a pro forma basis).
Enhances and Adds Flexibility to an Attractive Minesite and Project
Pipeline –
The Merger combines a robust pipeline of growth projects and exploration opportunities.
These projects are located in existing mining camps and will drive
manageable, low-risk, high-return production growth over the next
decade.
Provides the Financial Strength to Increase Capital Distributions to
Shareholders While Investing in Growth Projects –
The Merger significantly enhances the financial flexibility to fund both
the robust pipeline of growth projects and to build on a proven track
record of growing sustainable capital returns to shareholders while
maintaining a strong balance sheet.
In combination, Agnico Eagle and Kirkland Lake Gold have collectively
returned $1.6 billion to shareholders through dividends and share
repurchases since the beginning of 2020 and expects to further increase
returns to shareholders in the future.
Board of Directors’ Recommendations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166118653
$Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
https://www.youtube.com/watch?v=O4hoV9779mQ
https://investorshub.advfn.com/boards/manage_msg.asp?message_id=165877493
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
https://www.kl.gold/news-and-media/default.aspx
TORONTO, Oct. 20, 2021 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that it has filed on SEDAR an amended and restated National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report (the “Amended Report”) with respect to the updated Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) released on September 2, 2021 (the “Mid-Year 2021 Mineral Resource Estimates”).
As with the original technical report filed on October 15, 2021, the Amended Report is entitled, “Detour Lake Operation, Ontario, Canada, NI 43-101 Report” and is effective as of July 26, 2021.
There are no material differences between the Amended Report and the original technical report and there are no differences in the Mid-Year 2021 Mineral Resource Estimates.
The Amended Report includes revisions to address formatting issues affecting the presentation of Tables 1-3, 1-4, 14-23 and 14-24.
This Amended Report replaces the previously filed technical report.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021.
The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
Risks and Uncertainties
The exploration, development and mining of mineral deposits involves significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Kirkland Lake Gold is subject to several financial and operational risks that could have a significant impact on its cash flows and profitability. The most significant risks and uncertainties faced by the Company include: the price of gold; the uncertainty of production estimates (which assume accuracy of projected grade, recovery rates, and tonnage estimates and may be impacted by unscheduled maintenance, labour and other operating, engineering or technical difficulties with respect to the development of its projects, many of which may not be within the control of the Company), including the ability to extract anticipated tonnes and successfully realizing estimated grades; the threat of outbreaks of viruses or other infectious disease, including COVID-19; changes to operating and capital cost assumptions; the inherent risk associated with project development and permitting processes; the uncertainty of the mineral resources and their development into mineral reserves; the replacement of depleted reserves; foreign exchange risks; changes in applicable laws and regulations (including tax legislation); reclamation obligations; regulatory; tax matters and foreign mining tax regimes, as well as health, safety, environmental and cybersecurity risks. For more extensive discussion on risks and uncertainties refer to the “Risks and Uncertainties” section in the December 31, 2020 Annual Information Form and the Company’s MD&A for the period ended December 31, 2020 filed on SEDAR and on EDGAR.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute ‘forward looking
statements’, including statements====can be upgraded to mineral
reserves through continued exploration and positive economic
assessment.
Information Concerning Estimates Of Mineral Reserves And Measured, Indicated And Inferred Resources
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on
Agnico merger, electrification
Amanda Stutt | October 13, 2021 | 12:17 pm News Canada Gold
Tony Makuch. Credit: Kirkland Lake Gold
Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KLG), Tony Makuch, as its keynote speaker.
Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM), with Makuch, soon to be CEO of the new Agnico Eagle.
SIGN UP FOR THE PRECIOUS METALS DIGEST
As part of session moderated by Henry Lazenby, multimedia content producer with CMJ’s sister publication, The Northern Miner, Makuch fielded questions from the audience, including those about why Agnico Eagle did not offer a sizeable premium on the Kirkland Lake share price.
“Kirkland Lake Gold has a track record of growing itself as a company,” he said. “In making a premium deal, you have to see new value that can be created. If we insisted on a premium, it’s the same as me saying to shareholders we haven’t created the value we could have for you.”
The mega-merger was announced on Sept. 28 – a deal that will create a high quality, senior producer with 48 million oz. of gold in reserves. The boards of both companies have approved the arrangement, and current Agnico CEO Sean Boyd will become chair of the board.
The deal carries $2 billion worth of savings through synergy. But where will they come from?
According to Makuch, savings can be found by sharing exploration knowledge, technology, processing opportunities, infrastructure, and the support of local communities and regulators both Agnico Eagle and Kirkland Lake have.
If Kirkland Lake embarks on a project that might take it three or four years, such as creating a smart mine, Makuch said they would look to an Agnico mine where it has already been done, and the implementation timeline would be shortened.
“Unlocking technology will play a big part in reducing costs,” Makuch said. “We rely on exploration technology to drive value in our industry. . . If we can find an ounce of gold for $5 or $10, then upgrade the resources for $150 an ounce, you have created value.”
Likewise, technology and R&D will play a big part in unlocking synergy.
The merger is worth an estimated $13.5 billion as Kirkland Lake shareholders will receive 0.7935 of an Agnico Eagle common share for each of their shares.
Kirkland Lake’s strengths are the Macassa and Detour Lake gold mines in Ontario and the Fosterville gold mine in Victoria, Australia. Agnico Eagle has built its strength on the Meadowbank, Canadian Malartic, Goldex, Hope Bay, LaRonde, and Meadowbank gold mines in Canada. The company also has gold mines in Mexico (Pinos Altos and La India), and Finland (Kittila). Both companies have pipeline projects that create a synergy for the future.
Aggressive exploration to continue
“The new Agnico Eagle is always going to be an aggressive explorer, and we have the capital resources to do that,” he added.
Makuch also sees advantages to electrifying underground beyond savings on ventilation, based on experience implementing battery electric equipment at Kirkland Lake’s operations in Ontario.
“Such trucks are already fitted with computers. (That’s) how we can create a smart or autonomous piece of equipment. Then you can connect them all and create a smart mine,” he said.
The merged Agnico-Kirkland Lake will maintain the goal of net-zero carbon emissions by 2050 or before.
“We can get to net zero if we close all our mines,” Makuch said, “but we want to operate our mines.” That means improving processes, going electric, adopting smart technologies, and always seek sustainability.
“The big challenge is people. Innovations and change need trained people and people with new skills,” he said. He wants the new company to get away from underground diesel engines and the exposure of people to diesel exhaust fumes.
He said that to create a sustainable business, part is technology, and part is how people and the environment are treated, how processes are improved, how business support can be more efficient – at the same time keep costs at the low end of the industry.
“Over the next few years, there are going to be exciting times,” Makuch promised.
A load of ideas for the future
Besides keynote speaker Tony Makuch, the morning keynote at CMJ Reimagine Mining Symposium was given by George Hemingway, managing partner and head of innovation practice at Stratalis. He spoke on how to harness trends to get mining’s message to the public.
There were future-focused panels on the pathway to decarbonization in mining; how to get the public to view mining positively sponsored by SRK; as well one on capturing data beyond line of site sponsored by Emesent. Also looking to the future, speaker Brad Terhune of Costmine offered pointers for estimating project costs, and Don Duval of Norcat outlined how mining companies are speeding up their adoption of technology.
CMJ thanks all its sponsors including Sandvik (global), Eaton (silver), Eaton (silver), BBA (bronze) and KalTire (bronze) and corporate presenter Exyn Technologies.
Links to recordings of the symposium will be available on the CMJ website next week, and coverage of the event will be included in our December issue.
Market Analysis » Just 72 Hours from Anarchy – Bill Holter
Just 72 Hours from Anarchy – Bill Holter
By Greg Hunter On October 12, 2021 In Market Analysis 4 Comments
By Greg Hunter’s USAWatchdog.com
https://usawatchdog.com/just-72-hours-from-anarchy-bill-holter/
bigone Note; The Beginning Of The End" | Alasdair MacLeod
1,441 views Premiered 69 minutes ago
Liberty and Finance
61.5K subscribers
https://www.youtube.com/watch?v=BDjtMW8a9u0
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“C“Agnico Eagle Mines Limited”.
ompany”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”)
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Tony Makuch, President and CEO of Kirkland Lake Gold, stated, “We are
very pleased and excited to be entering into a combination with
Agnico Eagle.
It is a unique ‘strength-on-strength’ transaction that combines the two
global gold producers with the best track records for increasing per
share value.
The deal creates an industry leader with a dominant position in the
Canadian market that is deserving of a premium valuation and is poised
to generate superior long-term shareholder value going forward.
The transaction represents a true merger of equals, with the business of
both companies to benefit from the significant financial strength of
the merged company, the extensive pipeline of development and
exploration projects to drive future growth, and the potential to
realize significant operational and strategic synergies along the
Abitibi-Kirkland Lake corridor.
It is the right deal for our company and its shareholders, our people,
the communities where we operate, and all of our key stakeholder
groups.”
Strategic Rationale for the Merger
Key strategic, financial and operational advantages of the combined
business include:
Creates the Highest Quality Senior Gold Producer –
The Merger will create the industry’s highest-quality and
lowest-risk senior gold producer.
With expected production of approximately 3.4 million ounces in 2021
at the lowest all-in sustaining costs per ounce amongst the senior gold
producers, the Company remains focused in low-risk jurisdictions and
regions with high geological potential.
Maintains a Proven and Trusted Senior Leadership Team and Board with a
Strong Track Record of Creating Value Per Share –
The combined leadership team will maintain the consistent and proven
strategy of growing both production and profitability per share.
Extends Industry Leadership in ESG and Enhances the Capacity to Make
Longer Term ESG Focused Investments –
The combined entity will be a leader in energy performance and
GHG emissions intensity, with a commitment to be Net Zero by 2050 or
earlier.
Enhances Position in one of the Most Prolific and Prospective Gold
Regions in the World– The Merger solidifies the new Agnico Eagle as
Canada’s leading gold producer, with expected annual production in
the country of approximately 2.5 million ounces in 2021
(on a pro forma basis).
The combined portfolio will be anchored by high-quality gold production
in Ontario, Quebec and Nunavut in Canada, as well as at
Fosterville in Victoria, Australia, Kittila in the Lapland region of
Northern Finland and Pinos Altos and La India in Northern Mexico.
Drives Fundamental Value Creation from Significant Unique Synergies
Estimated at $0.8B over 5 Years and $2B over 10 Years (Pre-Tax) –
The Merger provides a unique opportunity to unlock significant
operational and strategic synergies along
the Abitibi-Kirkland Lake corridor and to leverage sector-leading
technical expertise to surface additional value across the portfolio.
Highlights Track Record of Growing Mineral Reserves and Mineral
Resources –
The Merger combines the only two major gold companies to have grown
mineral reserves and production per share over the last 10 years
through consistent investment in exploration and value-added
acquisitions, with total mineral reserves increasing by 127% from
2011 to 48 million ounces at December 31, 2020 (on a pro forma basis).
Enhances and Adds Flexibility to an Attractive Minesite and Project
Pipeline –
The Merger combines a robust pipeline of growth projects and exploration opportunities.
These projects are located in existing mining camps and will drive
manageable, low-risk, high-return production growth over the next
decade.
Provides the Financial Strength to Increase Capital Distributions to
Shareholders While Investing in Growth Projects –
The Merger significantly enhances the financial flexibility to fund both
the robust pipeline of growth projects and to build on a proven track
record of growing sustainable capital returns to shareholders while
maintaining a strong balance sheet.
In combination, Agnico Eagle and Kirkland Lake Gold have collectively
returned $1.6 billion to shareholders through dividends and share
repurchases since the beginning of 2020 and expects to further increase
returns to shareholders in the future.
Board of Directors’ Recommendations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166118653
$Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
https://www.youtube.com/watch?v=O4hoV9779mQ
https://investorshub.advfn.com/boards/manage_msg.asp?message_id=165877493
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
My opinions are my own and and DD I post should be confirmed as unbiased
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