RE:Maybe this Duck isn't quite dead. Look at their market! 10. Macassa
Kirkland Lake Gold (KGI)
The mine the KGI operates is the latest extension of at least 7 previous mines which have operated continuously for 101 years and is the chief reason that the town exists. The lake itself no longer exists as over the years it was filled in with tailings.
KGI produced 385,837 tons of ore in fiscal 2014 up 27% from 2013. They produced 122,309 ounces gold or 34% more than in 2013. They had a loss of $11,077,000 in fiscal 2014, but their $95 MM mine expansion was completed on schedule and on budget. The expansion increased hoisting capacity and as well as ability to mill more tonnes. George Oglivie has taken steps to change the mining model so that a profit will be generated instead of further losses. A hiring freeze as well as a manpower reduction of 175 employees was implemented. A higher target for ounces per tonne mined was also introduced.
The long and short of this is that KGI is planning to become profitable in the near future and promises to stay profitable for some time to come. They made the final payment of $30 MM to Osisko on the former joint venture properties (the Upper Beaver Mine etc.) KGI is planning to increase its gold production in the years ahead. Tonnes produced in 2014 were 385,836. But only 84,462 in the 4th quarter. The production estimate for fiscal 2015 lies between 140,000 and 155,000 ounces and for 2016 between 150,000 and 170,000.
My calculation for tons produced given the grade parameters will increase to between 428,571 to 485,714 for the full year. This is not a huge mine but it is now the closest one to Nordex' plant site. The mining is underground and once again the Johnex product line could be the initiating device to gain this contract.
The Upper Beaver exploration site had a resource base of 2,173,000 million ounces of gold 88,224,000 million pounds of copper in the indicated and inferred resource category. This resource will take some time and a goodly amount of money before it is proven to be economic, at first glance though it looks tempting.
B&D