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Kirkland Lake Gold has announced the company’s financial and operating results for the fourth quarter and full-year 2020.
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold commented: “2020 will go down as a year that no one will ever forget. Faced with the challenges of a global pandemic, our team rose to the occasion and effectively responded to the COVID-19 virus with there being no transmission of the virus at any of our sites during the year. At the same time that we were focusing on protecting our people, we also turned in our best year ever, achieving record levels of production, earnings and cash flows and meeting all of our consolidated FY 2020 guidance. In Q4 2020, we had our best quarter of the year, achieving record quarterly production and earnings, with all three operations reaching their highest production levels of 2020. Obviously, the high gold price environment was a key factor for both the full year and Q4, but so was the
KL Gold reports record results in 2020
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Press Release - MINING COM
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Fosterville record boosts Kirkland Lake’s production increase
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Kirkland Lake Gold has continued growing its cornerstone assets in Australia and Canada, boosting its gold production by 41 per cent in the 2020 financial year.
The Fosterville gold mine in Victoria was a solid contributor, producing 640,467 ounces of the 1.3-million-ounce total for the financial year, in line with the company’s guidance of 1.3-1.4 million ounces.
This result was a production record at the Victorian mine, offsetting interrupted production at the company’s Canadian assets that was brought about by the COVID-19 pandemic.
However, Kirkland Lake could not exceed Fosterville’s quarterly record set in the fourth quarter of the 2019 financial period, producing 164,008 ounces for the quarter, tailing behind the 191,894 December 2019 quarterly record.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “
Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced production results for the fourth quarter (“Q4 2020”) and full-year (“FY 2020”) of 2020. Q4 2020 production totaled 369,434 ounces, a 32% increase from the fourth quarter of 2019 (“Q4 2019”) and 9% higher than the previous quarter. All three of the Company’s cornerstone assets achieved their highest quarterly production levels of the year in Q4 2020. For FY 2020, the Company produced 1,369,652 ounces, a 41% increase from 2019 (“FY 2019”) and in line with full-year 2020 guidance of 1,350,000 – 1,400,000 ounces. All dollar amounts are expressed in U.S. dollars, unless otherwise noted. Per share amounts are based on a total of 268,097,877 shares outstanding at December 31, 2020.