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Kirkland Lake to swell reserves

By Robert Tyerman | Friday 20 March 2015


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.


Canadian miner Kirkland Lake Gold (KGI) expects to follow record February gold production of 16,485 oz. from the historic Kirkland Lake camp in Ontario at a high grade of 17.8 grammes of gold per tonne of ore with an updated formal resource statement for the whole company in early April. Kirkland, which has achieved a significant turnaround under chief executive officer George Ogilvie, reckons this will show drilling has, in his words, ‘replaced what we have mined’, with a climb in head grade and a possible lift in proven and probable reserves from the present 1.4 million oz. at 17.1 grammes a tonne, with a measured and indicated resource of 2.1 million oz. at 16.8 grammes a a tonne as well as a 1.1 million-oz. inferred resource at 18.5 grammes a tonne.


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