Kirkland Lake Gold Declared Robust Production Results

SEATTLE (Scrap Monster): Toronto-based Kirkland Lake Gold Ltd. announced robust production results for the second quarter and the half-yearly period ended 30^th June, 2020.

The Q2 2020 gold production totalled 329,770 ounces, higher by 54% from 214,593 ounces during the corresponding quarter last year. The gold poured during the quarter totalled 338,573 ounces, compared to 216,666 ounces a year before. The quarterly gold sales stood at 341,390 ounces at an average realized price of $1,716 per ounce. The company produced 660,634 ounces of gold during the first six months of the current year. This compares with the production of 446,472 ounces during January to June in 2019.

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The Detour Lake Mine production remained more or less steady at 131,992 ounces, despite Covid-19-related disruptions. Fosterville reported 10% jump in production over the year to 155,106 ounces. The lower average grades at Macassa resulted in lowered production of 41,865 ounces of gold. The Holt Complex, which has been placed on temporary suspension with effect from April 2^nd, produced 807 ounces.

Commenting on the results, Tony Makuch, President and Chief Executive Officer noted that the company reported very solid second quarter despite the impact of the pandemic and the extensive measures taken by it to protect its workers, their families and communities.