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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 283,706,658
Close 2020-04-09 C$ 50.11
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Post says Kirkland Lake hopes pain will end on April 30

2020-04-13 08:27 ET - In the News

The Financial Post reports in its Saturday edition that while some health experts have predicted COVID-19 risks could linger for years, many mining companies and analysts are operating on a more optimistic timeline. The Post's Geoff Zochodne writes that Kirkland Lake Gold, which operates several mines across Northeastern Ontario, last month had one of its workers test positive for the virus at a remote mining site. Nonetheless, it continues to mine, albeit at reduced levels. On Thursday, the company reported its first-quarter results, including the production of 331,000 ounces of gold, down 6 per cent from guidance. Last week, the company withdrew its full-year guidance, but is hoping that it can resume operations at full capacity at the end of the month. "We're hoping that April 30 will be the end of it," said Mark Utting, a spokesman for the Toronto miner. "But we're prepared for it not to be." Kerry Smith, an analyst with Haywood Securities, said that he thinks host governments which have ordered suspensions will be eager to see people go back to work. "I would expect the shutdowns would be over in one to two months from now," Mr. Smith said in an e-mailed statement to the Post.

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