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BRIEF-Kirkland Lake Gold Says Q3 Production Totaled 339,584 Ounces, up 37%

Published 2020-10-12, 08:30 p/m
Updated 2020-10-12, 08:36 p/m
© Reuters.

© Reuters.

Oct 12 (Reuters) - Kirkland Lake Gold Ltd KL.TO :

* KIRKLAND LAKE GOLD REPORTS SOLID THIRD QUARTER 2020 PRODUCTION, INCREASES CASH TO $848 MILLION AND ANNOUNCES 50% INCREASE IN QUARTERLY DIVIDEND

* Q3 2020 PRODUCTION TOTALED 339,584 OUNCES, AN INCREASE OF 91,184 OUNCES OR 37% FROM 248,400 OUNCES FOR Q3 OF 2019

* KIRKLAND LAKE GOLD - ANNOUNCED A 50% INCREASE IN QUARTERLY DIVIDEND, TO US$0.1875 PER SHARE, EFFECTIVE Q4 OF 2020 ("Q4 2020") DIVIDEND PAYMENT

* COMPANY'S CASH POSITION INCREASED 58% DURING Q3 2020 TO $848 MILLION AT SEPTEMBER 30, 2020 WITH NO DEBT

* GOLD POURED IN Q3 2020 TOTALING 325,811 OUNCES VERSUS 252,984 OUNCES IN Q3 2019 AND 338,573 OUNCES IN Q2 2020

* KIRKLAND LAKE GOLD - HAVE ENTERED FINAL QUARTER OF YEAR WELL POSITIONED TO ACHIEVE FULL-YEAR 2020 PRODUCTION GUIDANCE OF 1,350,000 - 1,400,000 OUNCES

* KIRKLAND LAKE GOLD - Q3 GOLD SALES 331,959 OUNCES AT AVERAGE REALIZED PRICE OF $1,907 PER OUNCE VERSUS 256,276 OUNCES ($1,482 PER OUNCE) Q3 2019

* RE-ISSUED PRODUCTION GUIDANCE FOR 2020 REMAINED UNCHANGED FOLLOWING RELEASE OF COMPANY'S Q2 2020 RESULTS ON JULY 30, 2020

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