Interesting to note that today National Bank increased Kirkland's tp from $24 to $25 while at the same time reduced target price of AEM and FNV....about 10% down for Aem and about 5% down for FNV. Just their opinion and maybe doesn't mean much in reality, but one more indicator that KL continues to have solid prospects, at least from National Bank's perspective.
Consolidated full-year 2017 production of 596,405 ounces, beating improved guidance of 580,000 – 595,000 ounces
Record full-year production at all operating mines, including 263,845 ounces at Fosterville, 194,237 ounces at Macassa, 66,677 ounces at Holt and 50,764 ounces at Taylor
Consolidated quarterly production in Q4 2017 totaling 166,579 ounces, a 9% increase from Q4 2016 and 20% higher than Q3 2017
Record quarterly production in Q4 2017 at Fosterville (79,157 ounces), Holt (19,263 ounces) and Taylor (16,538 ounces), second best quarter ever at Macassa (51,608 ounces).
Other 2017 highlights:
Strong growth in mineral reserves -
• Fosterville mineral reserves more than doubled in 2017 to 1,030,000 ounces at an average grade of 17.9 grams per tonne (“g/t”)
• Macassa mineral reserves increased 37% to 2,010,000 ounces at an average grade of 20.8 g/t
Improved balance sheet strength -
• Cash and cash equivalents of approximately $230 million at December 31, 2017
• Debt eliminated: 6.0% convertible debentures repaid June 30, 2017; 7.5% convertible debentures matured December 31, 2017 (converted into 4,505,393 commons shares)
Industry-leading shareholder returns -
• KL top performing stock on S&P/TSX Composite Index in 2017 with share price increasing 174.5% (for full-year 2017)
• Quarterly dividend payment announced in March, doubled to $0.02/share for January 15, 2018 payment
• 5.4 million common shares repurchased for C$76.5 million through normal course issuer bid
Kirkland Lake Gold is a mid-tier gold producer targeting 570,000 – 590,000 ounces of gold production in 2017 from mines in Canada and 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 and operational expertise.