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Kirkland Lake Gold Ltd. has declared a quarterly dividend of US$0.1875 per common share for Q1 2021, payable on April 14, 2021. Shareholders of record by March 31, 2021 will receive this payment, marking the 16th dividend since the adoption of the company's dividend policy in March 2017. The dividend qualifies as an eligible dividend for Canadian income tax purposes, with conversions to Canadian dollars based on the spot price on April 13, 2021.
Kirkland Lake Gold aims to produce 1,300,000 – 1,400,000 ounces of gold in 2021.
Kirkland Lake Gold announced significant drilling results at the Detour Lake property, confirming a mineralized corridor between the Main and West pits. Key intercepts include 13.95 gpt over 26.9 m and 3.63 gpt over 58.0 m. The exploration program, totaling 250,000 m, aims to expand Mineral Resources and Reserves with results suggesting high-grade potential at depth. Production guidance remains between 680,000 and 720,000 ounces through 2023, increasing to 800,000 ounces by 2025. The company's commitment to exploration is bolstered by ongoing drilling, enhancing growth prospects.
Kirkland Lake Gold Ltd. has announced significant management appointments effective March 1, 2021. Natasha Vaz has been promoted to Chief Operating Officer, bringing extensive operational experience since joining in 2019. Jennifer Wagner is now Executive Vice President Corporate Affairs and Sustainability, having been with the Company since 2015. Additionally, Jason Neal joins as Executive Vice President, focusing on Corporate Development and Investor Relations. Kirkland Lake Gold aims to produce 1.3-1.4 million ounces in 2021, anchored by three high-quality mines in Canada and Australia.
Kirkland Lake Gold reported record financial and operating results for Q4 2020 and FY 2020, with production of 1,369,652 ounces and revenue reaching $2.46 billion, up 78% year-over-year. Q4 net earnings stood at $232.6 million, or $0.86 per share, while FY net earnings totaled $787.7 million, or $2.91 per share. The company returned $848.3 million to shareholders through share repurchases and dividends. Mineral reserves increased by 3% to 20.12 million ounces. Detour Lake contributed significantly to free cash flow and exploration success was noted across operations. ESG initiatives also made substantial progress.
Kirkland Lake Gold Ltd. (KL) announced it will release its fourth quarter and full-year 2020 financial results on February 25, 2021, before the market opens. A conference call to discuss these results will take place at 2:00 PM ET the same day. The Company aims to produce 1.3 to 1.4 million ounces of gold in 2021, supported by its operations in Canada and Australia. The call will be accessible via telephone and webcast. For additional details, visit www.kl.gold.
Kirkland Lake Gold reported strong production results for Q4 2020, with a total of 369,434 ounces, reflecting a 32% increase from Q4 2019 and a 41% increase for FY 2020 at 1,369,652 ounces. The company returned $847.6 million to shareholders, including $731.6 million through share repurchases. The cash position improved by 20% to $848 million with no debt. Significant production growth is anticipated, particularly from the Detour Lake mine, which is expected to generate 680,000 – 720,000 ounces in 2021. The dividend has risen to $0.1875 per share, doubling it in 2020.
Kirkland Lake Gold (TSX:KL) has announced significant drilling results from the Detour Lake property, highlighting exceptional grades in the Saddle Zone. Key intercepts include:
- 4.02 gpt over 43.0 m, with a peak of 37.19 gpt over 3.0 m
- 8.13 gpt over 17.0 m, including 22.51 gpt over 5.9 m
- 2.19 gpt over 39.8 m, including 21.32 gpt over 2.7 m
The ongoing drilling program, part of a 250,000 m exploration initiative, aims to expand Mineral Reserves and enhance production strategies. The results suggest a larger mineral deposit than previously estimated, supporting potential growth in production rates and operational efficiency.
Kirkland Lake Gold Ltd. (TSX:KL) announced a quarterly dividend of US$0.1875 per share for Q4 2020, marking a 50% increase from the previous US$0.125 dividend. The payment will be made on January 14, 2021, to shareholders recorded by December 31, 2020. In 2020, Kirkland Lake Gold returned $734 million to shareholders through dividends and share repurchases. The company is set to produce 1.35 - 1.4 million ounces of gold in 2020, supported by strong operations in Canada and Australia.
Kirkland Lake Gold Ltd. (TSX:KL) has announced its full-year production guidance for 2021, forecasting 1,300,000 to 1,400,000 ounces, supported by growth at Detour Lake Mine. The company plans increased capital expenditures, focusing on future production growth and a significant exploration program across its key assets. The AISC per ounce is expected to remain stable, while operating cash costs are projected to rise. Noteworthy plans include a $50 million drilling program at Detour Lake and substantial investment in exploration at Fosterville, aiming to enhance high-grade production.
Kirkland Lake Gold Ltd. (KL) has completed the sale of 18,450,000 common shares and 9,225,000 warrants of Novo Resources Corp., generating gross proceeds of $45,202,500. The warrants allow holders to purchase shares at $2.80 for one year. If all warrants are exercised, total proceeds could reach $71,032,500. Post-sale, Kirkland's shareholding in Novo declines from 12.1% to approximately 4%. This transaction provides immediate capital for Kirkland Lake's business operations, although the company currently has no immediate plans regarding its remaining shares in Novo.
