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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 210,188,008
Close 2019-08-26 C$ 63.25
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Globe says Sprott betting on Jaguar Mining, others

2019-08-26 07:14 ET - In the News

See In the News (C-JAG) Jaguar Mining Inc (2)

The Globe and Mail reports in its Monday, Aug. 26, edition that one surprisingly strong niche area in secondary mining equity issues lately has been tiny exploration and development companies. The Globe's Niall McGee writes that a good chunk of the buying has been driven by one of Canada's best-known precious metals investors. Eric Sprott, the billionaire founder of Sprott Inc. has invested about $140-million (Canadian) in 18 metals explorers this year, including putting $25-million (U.S.) in Continental Gold, $15-million (U.S.) in Jaguar Mining and $20-million (Canadian) in Pure Gold Mining. Earlier in the year, Mr. Sprott cashed in a portion of his shares in Kirkland Lake Gold, which over the past few years has been the world's top performing large gold miner, thanks in large part to the outperformance of its high-grade Fosterville gold mine in Australia. Generalist funds are wary of past underperformance, and as such, do not have both feet back in this market. Mr. McGee says the generalist funds are nibbling around the edges and taking a very cautious approach.

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