Kirkland Lake Gold reports record production

Company News

by Kathy Skantzos

Gold producer Kirkland Lake Gold (ASX:KLA) has announced all its operating mines resulted in record annual and quarterly production for the full year and fourth quarter of 2017.

Consolidated production for the full year finished above the guidance of 580,000 to 590,000 ounces, which increased three times throughout the year.

Fourth quarter consolidated production increased 9 per cent from the same time last year, and was 20 per cent higher compared to the third quarter of 2017.

President and Chief Executive Officer Tony Makuch said 2017 was a successful year, achieving record results in all of its operating mines, and said the fourth quarter of 2017 was its best ever quarter of production.

The company’s balance sheet is sitting at $230 million at 31 December 2017, with no debt.

Shares in Kirkland Lake Gold (ASX:KLA) are last traded at 23.10.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.