Kirkland Lake Gold’s (TSX: KGI; US-OTC: KGILF) vision of turning into an intermediate multi-asset gold producer following an operational turnaround at its high grade Macassa gold mine in northeastern Ontario has been paying off.
In November 2013, Kirkland focused on mining better grades instead of higher tonnage at Macassa. This drove up the mine’s head grades and production and ultimately helped the firm get back into the black.
As it started amassing cash, Kirkland explored ways to de-risk its single producing asset portfolio. It announced a US$178 million, all share takeover of St Andrew Goldfields last November, giving it three new gold mines – Holt, Holloway and Taylor – collectively known as the East Timmins operations, as well as a mill and a large land package. The acquisition closed on Jan. 26, 2016.
Since the end of 2015, the company’s shares have jumped 76% to finish April 15 at $8.52, up a respective 154% and 232% since exiting 2014 and 2013.
Read the entire story at www.NorthernMiner.com/news/kirkland-lake