UPDATE 1-Kirkland raises full-year forecast, beats quarterly profit estimates [Reuters]
Kirkland Lake Gold Ltd. Common Shares (KL)
Last kirkland lake gold ltd. common shares earnings: 2/20 02:09 am
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Source: Reuters
UPDATE 1-Kirkland raises full-year forecast, beats quarterly profit estimates (Updates with quarterly results) Feb 20 (Reuters) - Canadian miner Kirkland Lake Gold Ltd raised its full-year forecast for gold production and beat analysts’ estimates for quarterly profit on Thursday, driven by higher production at its Fosterville mine in Victoria, Australia. The company raised its forecast for full-year gold production to between 1.4 million ounces and 1.5 million ounces, from prior estimates of a range of 950,000 ounces to 1 million ounces. The guidance was boosted by the acquisition of rival Detour Gold Corp in January, which helped ease concerns about the short life of the company’s flagship Fosterville mine. Kirkland Lake, which has operations in Canada and Australia, said quarterly production jumped 21% to 279,742 ounces in the fourth quarter, while the average realized price for gold fell 9.7% to $512 per ounce sold. The company said it was considering options for its mines at Holt
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