Make Kitco Your Homepage

Kirkland Lake: All Mines Achieve Record Output In 2017

Kitco News

Kirkland Lake Gold Ltd. (TSX: KL; NYSE: KL; ASE: KLA) reports record output for 2017 as all of the company’s operating mines also posted records. Consolidated 2017 production of 596,405 ounces beat improved guidance of 580,000 to 595,000 ounces. Record full-year production at all operating mines included including 263,845 ounces at Fosterville, 194,237 ounces at Macassa, 66,677 ounces at Holt and 50,764 ounces at Taylor, Kirkland Lake says. Consolidated production in fourth quarter totaled a quarterly record 166,579 ounces, a 9% increase from the same period a year earlier and 20% higher than the third quarter. “Particularly encouraging was our strong finish to the year, with Q4 2017 being our best quarter ever for production,” says Tony Makuch, president and chief executive officer. “Leading the way was Fosterville, where full-year production increased 74% from the previous year, and record fourth-quarter results reflected an average grade of 21.5 g/t [grams per tonne], by far the highest quarterly average ever achieved by the mine. Over the last year, Fosterville has joined our Macassa mine as one of the world’s highest-grade gold producers, with mineral reserve ounces and the average reserve grade more than doubling and annual production capacity increasing to over a quarter million ounces per year, with more growth to come.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News