Kirkland Lake Gold Ltd. T.KGI

Kirkland Lake Is as Good as Gold - CONTRIBUTOR Jan Johnson T

[goldeagle1]

Kirkland Lake Is as Good as Gold -
CONTRIBUTOR
Jan Johnson The Motley Fool
PUBLISHED



https://www.nasdaq.com/articles/kirkland-lake-is-as-good-as-gold-2019-10-15

Record production is only increasing
Kirkland Lake is a growing company with highly productive yet low-cost mining operations in Canada and Australia. Although investing in Kirkland Lake is not completely without risk, its CEO has over 35 years' experience in the gold mining industry, which should appease conservative investors looking for company leaders with deep knowledge in their industry. Across all operations, Kirkland Lake will produce as much as one million ounces of gold in 2019 alone. The company's Macassa mine, located in Kirkland Lake, Ontario and operating since 2002, is one of the highest gold grade mines in the world, and its Fosterville mine is the largest gold producer in Victoria, Australia.

On October 9, Kirkland Lake announced record production for its third quarter of 2019: nearly 250,000 ounces in Q3 and almost 695,000 ounces year-to-date (YTD). Record quarterly production totaling almost 160,000 ounces from the Fosterville mine, which has increased its production every quarter of 2019, was the primary driver. In all of 2018, Fosterville produced over 356,000 ounces, so producing 44% of this amount in just three months is a significant feat. This increase in production resulted in a cash position increase of 31% ($146 million) during Q3, bringing KL's total cash and equivalents to $615 million. YTD, this represents an increase of 85%, or $283 million.