Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« Six Major Events That Will Change History - Egon von Greyerz | Main | Why Italy's banking crisis will shake the eurozone to its core »
Monday
Jul182016

Kirkland Lake Gold Announces Q2 Production Of 68,338 Ounces Of Gold And Welcomes Tony Makuch As CEO

 

This is an interesting news release from Kirkland Lake Gold Inc and one to watch if you are interested in gaining exposure to gold via a mining stock.

Kirkland Lake Gold (TSX:KGI) announces total gold production of 68,338 ounces for the second quarter of 2016 ("Q2/16"), and 130,613 ounces for the six months ended June 30, 2016 ("H1/16") from the Macassa Mine Complex and East Timmins Operations (the Holt, Holloway and Taylor mines, collectively the "ETO"). This number includes low grade material that was processed by the Macassa and Holt Mill accounting for 1,027 ounces of gold production during the quarter.

The Company is also pleased to announce that Mr. Tony Makuch, the recently appointed President & CEO of Kirkland Lake Gold, will assume his position effective July 18, 2016. Mr.Barry Olson, Independent Director of the Company, will step down as interim CEO at that time. (See Press Release dated June 12, 2016.)

"We are pleased to report another solid quarter of production from the Macassa Mine Complex and our East Timmins Operations," said Chris Stewart, Vice President of Operations.

"Total production of 68,338 ounces included low grade material from both Macassa and the Taylor mine, which contributed 1,027 ounces during the quarter. We were happy to be able to take advantage of the spare milling capacity, which we believe will have a positive impact on our unit costs for the quarter. We remain committed to meeting our production guidance for the year as the Holt mine continues to ramp up its production rates, and we are able to access higher grade stopes within the South Mine Complex.

We are also pleased to see our cash balance continue to grow, as we now have $157.5 million of cash on hand.

"The team is committed to achieving our 2016 goals and objectives, and will continue to work diligently in order to do so. We remain focused on operating safely, while improving our production rates, and reducing our cost profile. We look forward to working with our new CEO, to further improve the business, and create additional value for our shareholders and stakeholders alike. I'd also like to take this opportunity to thank Mr. Olson for stepping in during this transition period."

read more......

For Discloure purposes I do own Kirkland Lake Gold Inc.

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.

 

 

 


 

Winners of the GoldDrivers Stock Picking Competition 2007 

 

 

 Follow us on TWITTER @goldprices

 

 


PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>