ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

KGI Kirkland Lake

217.50
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kirkland Lake LSE:KGI London Ordinary Share CA49740P1062 COM SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 217.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Kirkland Lake Gold Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February

18/03/2015 7:00am

UK Regulatory



 
TIDMKGI 
 
Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February 
FOR:  KIRKLAND LAKE GOLD INC. 
 
TSX, AIM SYMBOL:  KGI 
 
March 18, 2015 
 
Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February 
 
TORONTO, ONTARIO--(Marketwired - March 18, 2015) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) ("Kirkland Lake 
Gold" or the "Company"), an operating and exploration gold mining company, announces record monthly production 
of 16,485 ounces of gold (recovered) for the month of February, kicking off its fourth quarter for fiscal 2015. 
 
Highlights: 
 
=-  32,862 tons milled at a head grade of 0.52 ounces per ton ("opt") or 17.8 grams per tonne ("g/t") and a 
recovery rate of 96.8%. 
 
=-  Recovered 16,485 ounces of gold. 
 
Mr. George Ogilvie, President & Chief Executive Officer commented, "We are happy to see the positive momentum 
continuing, particularly considering February was only a 28 day month. While this is an exceptional month and 
one we cannot consistently replicate just yet, it does show the potential of the property in future years. As 
more stopes come online in the South Mine Complex on both the 5400 level (where we are currently mining and 
where reserves grades are 0.57 opt or 19.5 g/t), and the 5600 level (which we plan to gain access to in fiscal 
2016, where reserves grades are 0.70 opt or 24.0 g/t), we should begin to see more consistent performance and 
above our last 12 month performance. Our recently revised forecast upward to 153,000 to 157,000 ounces of 
annual production remains intact." 
 
"We have made a lot of changes over the past 14 months, and our team has met the challenges posed to them head 
on. It has been a great team effort, and I wish to thank all of our employees for their commitment and hard 
work. The operations team and all the employees of the Company need to be commended for a job well done in 
turning around the Company's fortunes in a relatively short period of time." 
 
"It's my belief and that of the board of directors, that the Kirkland Lake camp can be used as a core asset to 
build the next great Canadian gold mining company." 
 
Operational Achievements and Team Effort 
 
February's production was achieved through a number of factors including a higher head grade of 0.52 opt (17.8 
g/t) resulting from access to more high-grade stopes within the South Mine Complex. The operations saw a more 
efficient transition between mining cycles from ore production to paste fill. Changes in the tire supplier 
increased the availability of the mobile fleet which saw less downtime and resulted in more ore break. The new 
jumbo's gained access to some ore headings and while they are not yet operating at full capacity, they are 
contributing to the overall ore tons broken (which averaged 1,205 tons per day in February). Improvements with 
the maintenance of the battery operated equipment also saw positive impacts. With a dedicated battery team, 
responsible for troubleshooting and maintenance, the availability of these units has greatly improved. 
 
Better communication resulted in increased worker productivity and ultimately better teamwork. The operations 
team have been steadily meeting the challenges posed to them and have come together to achieve success. A 
number of initiatives were undertaken including management training which saw better dialogue among team 
members. The Company continues to instill an "It's My Business" and "Act Like An Owner" culture within the 
operation, which is having a direct impact on improving efficiency and productivity. 
 
Outlook 
 
While the grade and production rate will remain variable in the short term, there are a few key steps that the 
Company is striving towards to ensure February's achievements are repeatable in the future. We expect to see 
some improvements in the near-term which will result from; the ability to increase the number of working faces, 
and as the second jumbo gains access to more ore faces; further improvement in the paste fill process that will 
come with some automation initiatives; and continued positivity in employee morale within the business. 
 
Qualified Person 
 
Production at the Macassa Mine and processing at KL Gold's milling facility are under the supervision of Mr. 
Chris Stewart, P.Eng., the Company's Vice President of Operations. Mr. Stewart, the 'qualified person' (for the 
purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities 
Administrators), has reviewed and approved this news release. 
 
About the Company 
 
Kirkland Lake Gold Inc.'s corporate goal is to create a self-sustaining and long-lived intermediate gold mining 
company based in the historic Kirkland Lake gold camp, as well as to explore opportunities for growth in other 
safe mining jurisdictions. The Company plans to do this by mining to the reserve grade, generating profits and 
free cash flow with a view to maximising value for the shareholders. The Company will also look to take 
advantage of its increased infrastructure capacity in the appropriate gold price environment. At the same time, 
the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a 
property wide reserve and resource base sufficient to sustain a mine life of more than ten years. 
 
Over the last several years the Company has invested significant capital to improve the infrastructure of the 
business including upgrading the production hoist, skips, mill, underground mobile equipment and capital 
development. From initial discovery to present day there have been over 24 million ounces of gold mined from 
the Kirkland Lake gold camp while the current reserve and resource provides for potentially 14 years of mining 
with significant exploration upside. 
 
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed or accepts 
responsibility for the adequacy or accuracy of this news release. 
 
Cautionary Note Regarding Forward Looking Statements 
 
This Press Release contains statements which constitute "forward-looking statements", including statements 
regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future 
business activities and operating performance of the Company. The words "may", "would", "could", "should", 
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate 
to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward- 
looking statements are based on the opinions, assumptions and estimates of management considered reasonable at 
the date the statements are made such as, without limitation, opinion, assumptions and estimates of management 
regarding the Company's business, including but not limited to; the ability to meet its revised production 
guidance, the ability to bring two additional stopes into production on the 5400 level and access to the 5600 
level and the timing thereof, as well as other productivity improvements which the Company expects will have 
further positive impacts on its production levels. Such opinions, assumptions and estimates, are inherently 
subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual 
events or results to differ materially from those projected in the forward-looking statements. These factors 
include the Company's expectations in connection with the projects and exploration programs being met, the 
impact of general business and economic conditions, global liquidity and credit availability on the timing of 
cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold 
prices, currency exchange rates (such as the Canadian 
dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in 
accounting policies, changes in the Company's corporate mineral reserves and resources, changes in project 
parameters as plans continue to be refined, changes in project development, construction, production and 
commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns 
or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing 
to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate 
as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and 
timing of the development of new deposits, success of exploration activities, permitting time lines, government 
regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or 
claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company's 
annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2014 and 
the Company's Management's Discussion and Analysis for the interim period ended January 31, 2015 filed with the 
securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. 
 
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward- 
looking statements prove incorrect, actual results may vary materially from those described herein as intended, 
planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important 
risks, uncertainties and factors which could cause actual results to differ materially, there may be others 
that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not 
assume any obligation, to update these forward-looking statements except as otherwise required by applicable 
law. 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Kirkland Lake Gold Inc. 
George Ogilvie, P.Eng 
Chief Executive Officer 
+1 709 532 5716 
+1 705 568 6444 (FAX) 
gogilvie@klgold.com 
 
OR 
 
Kirkland Lake Gold Inc. 
Suzette N. Ramcharan, CPIR 
Director of Investor Relations 
+1 647-284-5315 
+1 705 568 6444 (FAX) 
sramcharan@klgold.com 
www.klgold.com 
 
OR 
 
NOMAD: Panmure Gordon (UK) Limited 
Dominic Morley / Adam James 
+44 (0) 20 7886 2500 
 
OR 
 
Blytheweigh 
Tim Blythe/Halimah Hussain/Megan Ray 
+44 (0) 20 7138 3204 
 
 
 
Kirkland Lake Gold Inc. 
 

1 Year Kirkland Lake Chart

1 Year Kirkland Lake Chart

1 Month Kirkland Lake Chart

1 Month Kirkland Lake Chart