22:33:32 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Klondex Mines Ltd
Symbol KDX
Shares Issued 141,862,698
Close 2016-05-27 C$ 4.15
Market Cap C$ 588,730,197
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Lundin says buy Klondex Mines

2016-05-27 20:28 ET - In the News

Brien Lundin, in the May, 2016, edition of the Gold Newsletter, says buy Klondex Mines Ltd., recently $4.70. Mr. Lundin also said buy in October, 2015, at $3.16. A $1,000 investment then is now worth $1,485. Klondex produced 30,142 gold equivalent ounces in the first quarter of 2016 at its Fire Creek and Midas gold-silver mines in Nevada. This total includes 24,962 ounces of gold, the majority of which comes from Fire Creek, and 323,122 ounces of silver, mostly from Midas. The company remains on track to meet its 2016 production guidance of 145,000 ounces to 150,000 ounces AuEq. In 2015, Klondex produced 127,527 ounces AuEq, generating revenue of $155.2-million and net income of $22.5-million. At year-end, the company had a cash balance of $59.1-million. Adding to its balance sheet, the company has secured a $25-million revolving credit facility from Investec Bank. Klondex recently drilled 10.6 metres of 3.34 grams per tonne gold at Fire Creek and 1.5 metres of 321.28 grams per tonne silver at Midas. In Manitoba, the company plans to follow up on drill results from Rice Lake's prior owner. With impressive financial figures and promising exploration results, Klondex remains a strong buy.

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