[Blockierte Grafik: https://ml.globenewswire.com/R…-b3ad-022fa0dfa44d?size=3]
KIRKLAND LAKE GOLD REPORTS STRONG FOURTH QUARTER AND FULL-YEAR 2020 PRODUCTION,COMPANY REPURCHASES20 MILLION SHARES
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “Our most significant achievement in 2020 was our extensive response to the COVID-19 pandemic, which clearly demonstrated that, at Kirkland Lake Gold, nothing is more important than the health and safety of our people and the responsible operation of our business. Looking at our operating performance, in many respects our team had its best year ever in 2020. Faced with unprecedented challenges, we generated solid results, with production of 1,369,652 ounces achieving our full-year 2020 guidance. Our strong performance was driven by Fosterville, which generated record production of 640,467 ounces, including better than expected results during Q4 2020. Detour Lake and Macassa were significantly impacted by COVID-19, including being placed on reduced operations at the end of the first quarter. Both operations bounced back later in the year, achieving their best quarter of production in Q4 2020. Looking at Detour Lake, we are extremely pleased with our acquisition of the mine on January 31, 2020, which was clearly a case of the right deal at the right time. Detour Lake is a tremendous asset with substantial upside that is already making a significant contribution to our operating and financial results. In 2021, the mine is poised for strong production growth and improved unit costs, with there being considerable potential for additional growth as we continue to have success with our extensive exploration program.
https://s23.q4cdn.com/68581409…n112021FINALREV1clean.pdf