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Monday, January 18, 2021

KIRKLAND LAKE GOLD COM NPV (OTCMKTS:KLGDF) Management Shake-Ups Impacting Shareprice

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KIRKLAND LAKE GOLD COM NPV (OTCMKTS:KLGDF) rallied from $4.89 at the end of last year to $8.40 by mid-February. The price of Gold was flat to down during this period, so this was all about the progress KLGDF was making in operations and getting the management team in order. In response, shareholders jumped on the train aggressively in the first quarter of the year.

In-spite of the planned mill downtime last month, the Fosterville Mine in Victoria, Australia is projected to produce between 70,000 and 80,000 ounces of gold, and is positioned to deliver the annual production guidance of 200,000 – 225,000 for 2017.

KIRKLAND LAKE GOLD COM NPV (OTCMKTS:KLGDF) also announced the departure of Darren Hall, Chief Operating Officer, from its management team who will continue to provide transitional support until June 30, 2017. There is a strong operations management group at the Australian and Canadian Operations. KLGDF expects this to be a smooth transition to a more country focused management.

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Darin Smith is a new management appointment for Kirkland Lake Gold and will be based out of the Toronto Corporate office working alongside the Executive Team on strategic long range planning and development. Darin is an analytical mining finance professional and brings over fifteen years of experience in financial analysis and corporate strategy in the mining sector. Most recently, Smith was engaged in a Business Development role at Antofagasta Minerals and prior to that worked at BMO Capital Markets, as a Vice President in the Global Metals and Mining Group. Darin holds a Bachelor of Science in Mining Engineering and a Masters in Management Analytics, both from Queen’s University.

Tony Makuch, President and CEO of Kirkland Lake Gold stated: “On behalf of the Company, I would like to thank Darren Hall for his contributions and leadership following the business combination and integration of Newmarket Gold. I would also like to thank Ryan King for his contributions to our Investor Relations program and commitment to our shareholders through the integration of Newmarket Gold. We wish them both continued success in their future endeavors. Further, I welcome Darin Smith to the management team at Kirkland Lake Gold. Darin’s experience and skillset will be central in evaluating potential accretive opportunities to maximize the most efficient use of the Company’s resources.”

KLGDF  is by the numbers a mid-tier gold producer targeting 530,000 – 570,000 ounces in Tier 1 mining jurisdictions of Canada and Australia. Shares had a great run, and seemed to factor in the changes early in 2017. Since the February high the stock has range traded between $6.00 and $8.00 per share. This mid-tier gold miner has a $1.6 billion dollar market cap and approximately 210. 4 million shares outstanding. They trade a bit liquid at times averaging 88,000 shares daily.

KIRKLAND LAKE GOLD COM NPV (OTCMKTS:KLGDF) is anchored with two high-grade, low-cost operations: the Macassa Mine located in Northeastern Ontario and the Fosterville Mine (detailed above). KLGDF’s solid base of quality assets is complimented by district scale exploration potential. In addition, the company is supported by a strong financial position with extensive management and operational expertise. We think these shares can be a good small-cap proxy for gold mining. They seem to create alpha on their own with success in operations, but they need to bust out of the range they are stuck in. The easy metric here is watching the average volume number go up from the 88,000. This single number should tell you how the new management is doing with a quick glance. For continuing coverage on shares of $KLGDF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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