MINING mine the orebody at that time . All of this could be completed with minimal capex and could be undertaken quickly once given the green light due to the near surface proximity .”
Next Phase of Development The strategy for Kirkland is to return the mine to producing at its historical grade averages of 0.4 – 0.44 ounces per ton . The Company also plans to lower unit costs through scale and efficiencies and return to generating free cash flow . Once this is achieved the company will look to further increases output through self-funded exploration and development of other sources of ore from their current property position . “ The Company ’ s share count of 70 million shares in issue , 83 million fully diluted permits that once the company ’ s production is steady state and generating significant free cash flow significant return on investment would be seen by shareholders ,” says Ogilvie .
With its new business plan in place , the Company has a strong focus on higher grade . The Company expects to return to breakeven and profitability in the next several quarters . Once profitability has been returned any future uplift in the gold price will result in a corresponding uplift in free cash flow , meaning greater return on investment for shareholders . All signs point to Kirkland Lake being a solid investment .
Company Information
INDUSTRY
Mining
FOUNDED
2001
EMPLOYEES
250-499
REVENUE
$ 100M - $ 250M
www . klgold . com 155