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Kirkland Lake Gold Ltd. (TSX:KL) announced a quarterly dividend of US$0.1875 per share for Q2 2021, payable on July 14, 2021, to shareholders of record as of June 30, 2021. This marks the 17th consecutive quarterly dividend since the company adopted a dividend policy in March 2017. The dividend qualifies as an "eligible dividend" for Canadian tax purposes. Kirkland Lake Gold is targeting 1.3 to 1.4 million ounces of gold production in 2021 across its three primary mining operations in Canada and Australia.
Kirkland Lake Gold has obtained approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB), allowing the purchase of up to 26,694,051 common shares, equivalent to 10% of the public float as of June 4, 2021. This NCIB will run from June 9, 2021, to June 8, 2022. Previously, the company repurchased 10,286,500 shares under an earlier NCIB at an average price of C$57.39. Kirkland Lake Gold aims to produce 1.3 to 1.4 million ounces of gold in 2021, supported by its strong operational assets in Canada and Australia.
Kirkland Lake Gold Ltd. (TSX:KL) held its annual general meeting on May 6, 2021, where shareholders passed all proposed resolutions. A total of 187,602,914 common shares, or 70.25% of the issued shares, were voted. Key resolutions included the election of directors Jonathan Gill, Peter Grosskopf, Ingrid Hibbard, Arnold Klassen, Elizabeth Lewis-Gray, Anthony Makuch, Barry Olson, and Jeff Parr. KPMG LLP was appointed as auditors, and an advisory resolution on executive compensation was also approved. The company is targeting gold production of 1,300,000 to 1,400,000 ounces for 2021.
Kirkland Lake Gold reported strong Q1 2021 results, exceeding production guidance with 302,847 ounces, surpassing the target of 270-290 kozs. The operating cash costs were $542/oz sold, with an AISC of $846/oz. The company recorded net earnings of $161.2 million ($0.60/share) and an adjusted net earnings of $167.8 million ($0.63/share). With a revenue of $551.8 million and free cash flow of $42.7 million, Kirkland Lake also returned $96.6 million to shareholders via dividends and share repurchases. The company remains on track to meet 2021 guidance.
Kirkland Lake Gold Ltd. (TSX:KL) has reported significant drilling results from its Detour Lake property, highlighting mineral resource growth potential. Key intercepts include 1.13 gpt over 155.1 m and 9.02 gpt over 13.0 m, showcasing high-grade intersections in the Saddle Zone. The ongoing 270,000 m exploration program aims to enhance the Mineral Reserve and is expected to yield a new production plan by early 2022. The drilling confirms continuity between the Main Pit and planned West Pit, indicating considerable opportunities for both open-pit and underground resources.
Kirkland Lake Gold Ltd. announced its upcoming Annual General Meeting (AGM) on May 6, 2021, at 4:30 pm ET, to be held virtually. The AGM will be accessible via a live audio webcast. The company will also release its Q1 2021 financial and operating results on the same day, prior to the market opening, followed by a conference call at 2:00 pm ET. Kirkland Lake Gold is targeting 1.3 to 1.4 million ounces of production in 2021, backed by its strong operations in Canada and Australia.
Kirkland Lake Gold Ltd. (TSX:KL) reported Q1 2021 production of 302,847 ounces, exceeding guidance of 270,000 – 290,000 ounces. Strong results were driven by Fosterville and Detour Lake mines, benefiting from higher grades. Despite lower production compared to Q1 2020 (330,864 ounces) and Q4 2020 (369,434 ounces), the company remains on track for its full-year guidance of 1,300,000 – 1,400,000 ounces. Financially, cash stands at $792 million with no debt. The Macassa #4 Shaft project is ahead of schedule, targeting completion in late 2022.
Kirkland Lake Gold Ltd. (KL) has released its 2021 Life-of-Mine Plan (LOMP) for its Detour Lake Mine, projecting production of 680,000 – 720,000 ounces from 2021-2024, increasing to 800,000 ounces in 2025, and over 900,000 ounces by 2032. The low cash costs of $524/oz and AISC of $775/oz during the initial five years highlight financial efficiency. With significant mineral reserves projected for a 22-year life, Kirkland is focused on exploration to enhance its resource base, anticipating a new mine plan in 2022 for greater production potential.
