Kirkland Lake Gold Ltd (NYSE:KL)Mining
Kirkland Lake Gold Ltd. is a mineral exploration and development company that explores, acquires and develops a portfolio of exploration properties in Canada and Australia. The company explores the Macassa Mine complex and the Detour Lake Mine in Ontario, and the Fosterville gold mine in Australia.
The company’s headquarters is in Toronto, Canada. Kirkland Lake Gold Ltd. is a publicly listed company on the New York Stock Exchange (NYSE), and the common shares of the company are traded under the ticker symbol ‘KL’. In addition to the NYSE, the mining company is also listed on the Toronto Stock Exchange (TSX) and ASX Market under the ticker symbol ‘KL’ and ‘KLA’, respectively.
The company owns and operates three properties in the mining-friendly jurisdictions of Canada and Australia. In Canada, the company explores Macassa Mine, Holt Complex, and Detour Lake Mine.
It is one of the world’s highest-grade gold mines situated in Kirkland Lake town, north of Toronto, Ontario. It is an underground mine that has produced 183,038 ounces in 2020. It consists of orogenic greenstone-hosted gold deposits and is near the 2,200 tpd capacity Macassa Mill and three shafts. By identifying the South Mine Complex (SMC), Kirkland Lake started operations on the Macassa Mine in 2002.
Through acquiring St. Andrew Goldfields Ltd. in January 2016, the company owns and operates Holt Complex assets. It is an underground mine that has produced 29,391 ounces of gold in 2020 and is situated in Matheson, Ontario. It consists of three mines including Taylor (started operation in 2015), Holloway (started operation in 1996), and Holt (started operation in 1998).
Detour Lake Mine
It is situated NE of Timmins and Cochrane near the Abitibi Greenstone Belt. It is an open-pit mine that produced 516,757 ounces of gold in 2020. It consists of an orogenic lode gold vein/narrow vein hydrothermal deposit.
It is situated in Bendigo, State of Victoria, Australia. The high-grade Fosterville Mine is an underground mine type that has produced 640,467 ounces in 2020 and consists of orogenic gold deposits. It uses BIOX, CIL, and Gravity Circuit processes and is surrounded by paved roads with, a mill with 2,275 tpd capacity. This mine commenced its operation in 2005.
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