Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
After two years of losses, Canadian miner Kirkland Lake Gold (KGI) is poised to start making money again from its high-grade Macassa and South Mine complex, holding potentially three million ounces or more of the yellow metal in Western Ontario’s south Abitibi greenstone belt. The company, quoted on AIM and in Toronto, lost a quadrupled £8.5 million on a reduced £94 million turnover in the year to April, but expects the first quarter of the current year to show dramatic improvements in costs, grades and production. The company’s turnaround strategy, initiated in January by incoming chief executive officer George Ogilvie, looks like it is beginning to bear fruit.
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