Fosterville on the path to 400,000ozpa

KIRKLAND Lake Gold will spend up big in Australia this year as part of its aim to boost annual production at Fosterville in Victoria and restart Cosmo in the Northern Territory.

Fosterville on the path to 400,000ozpa Fosterville on the path to 400,000ozpa Fosterville on the path to 400,000ozpa Fosterville on the path to 400,000ozpa Fosterville on the path to 400,000ozpa

Group production from Australia and Canada for 2017 was 575,523 ounces of gold, and it announced overnight that production this year would grow to over 620,000oz at cash costs of US$425-450 an ounce and all-in sustaining costs of $750-800/oz.

But the production growth is slated to come from Macassa and Taylor in Canada, with Fosterville’s guidance set at 260,000-300,000oz, in line with the 263,845oz produced last year.

The impact of mining lower-grade stopes, due to mine sequencing, will be offset by the benefit of initial stope production from the Swan Zone, which has a reserve of 523,000 ounces at 58.8gpt gold.

KL said the wide guidance range reflected the potential for growth in the event the...