Another record at Fosterville

KIRKLAND Lake Gold’s Fosterville mine in Victoria continues to go from strength to strength, racking up another quarterly production record.

Another record at Fosterville Another record at Fosterville Another record at Fosterville Another record at Fosterville Another record at Fosterville

The operation produced 46,083 ounces of gold in the March quarter, based on a mill grade of 11.1 grams per tonne gold and recoveries of 93.7%, both new records.

Output was up by 4% over the previous quarter and up 39% year-on-year.

The Cosmo mine in the Northern Territory produced 9092oz, which was lower due to a temporary halt to production to redevelop access to a failed escape way.

Group production was 130,425oz of gold, with 73% coming from the flagship Fosterville and Macassa mines, keeping the company on track to meet guidance of 500,000-525,000oz of gold.

"During the quarter, we substantially increased our cash position by US$45 million to $280 million, underp...