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Kirkland Lake 1Q Output Higher, On Track For 2017 Guidance

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Kirkland Lake Gold Ltd. (TSX: KL) reports consolidated production of 130,425 ounces of gold in the first quarter, up from 127,521 in the same period a year ago. Tony Makuch, president and chief executive officer, says the first quarter “reflects a solid start to the year and supports our 2017 production target of 500,000 (to) 525,000 ounces.” The company lists production of 48,723 ounces at the Macassa Mine, plus record gold output of 46,083 ounces at the Fosterville Mine. Kirkland Lake says it ended the first quarter with a cash balance of approximately $280 million, an increase of $45 million from the Dec. 31 balance of $234.9 million.

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