Kirkland Lake generating strong cashflow

ANOTHER solid quarter of gold production in Australia and Canada has seen Kirkland Lake Gold’s cash balance jumping by another 19% over the March quarter.

Kirkland Lake generating strong cashflow Kirkland Lake generating strong cashflow Kirkland Lake generating strong cashflow Kirkland Lake generating strong cashflow Kirkland Lake generating strong cashflow

The company closed the March quarter with cash and equivalents of US$275.4 million, up by $43.8 million over the three months to March 31.

Group production for the March quarter was 147,644oz of gold, up 13% year-on-year, and exceeding internal targets thanks to record monthly output of 71,615oz.

Production at Fosterville in Victoria was 63,843oz, 39% higher than the same quarter of 2017, but lower than the December quarter record of 79,157oz.

The average head grade for the quarter was 16.8 grams per tonne gold, down from 21.5gpt in the December quarter.

March's production was 29,463oz at an average grade of 20.4gpt gold, the second-best month ever for the mine.

KL's Canadian flagship, Macassa, had record quarterly production of 54,038oz, while...