Kirkland Lake Gold reported Q3 2017 results with gold production of 139,091 ounces, 80% higher than Q3 2016. Net earnings more than doubled to $43.8 million due to an $80 million pre-tax gain on its investment in Novo Resources. Updated full-year 2017 production guidance is 580,000-595,000 ounces at an operating cash cost of $475-500 per ounce. Free cash flow for the first nine months of 2017 reached $113.5 million.
This document provides an operational and financial overview of Kirkland Lake Gold for the February 25-28, 2018 BMO Capital Markets Global Metals & Mining Conference. Key points include:
- Kirkland Lake Gold exceeded its 2017 production and cost guidance and achieved record quarterly production in Q4 2017.
- The company has two high-grade, low-cost operations - Fosterville and Macassa - that accounted for 77% of 2017 production.
- Kirkland Lake Gold is focused on three pillars of value creation: operational excellence, organic growth, and shareholder returns.
- Guidance for 2018 includes higher production of over 620k ounces, lower unit costs, and increased investment in
This document provides an overview of Kirkland Lake Gold's operations and financial results. Some key points:
- Kirkland Lake Gold operates two high-grade, low-cost gold mines - Fosterville in Australia and Macassa in Canada, which accounted for 77% of 2017 production.
- In 2017, the company beat production guidance of 580-595k ounces, with total production of 596k ounces. Cash costs were $481/ounce versus guidance of $475-500/ounce.
- Financially, the company had strong results in 2017 with $157 million in earnings from continuing operations and $178 million in free cash flow, compared to $46.7 million and $113.9 million
This document provides an overview of Kirkland Lake Gold's operations and growth strategy. Some key points:
- Kirkland Lake Gold operates two high-grade, low-cost mines that account for 77% of production - Fosterville in Australia and Macassa in Canada.
- In 2017, the company exceeded production guidance of 596,000 ounces of gold at costs below guidance. Reserves also grew significantly at Fosterville and Macassa.
- The company is targeting 1 million ounces of annual gold production in 5-7 years through expansion of Fosterville and Macassa as well as growth at Taylor mine.
- Exploration success could further extend mine lives, with significant potential identified already at multiple sites.
-
This document provides an overview of Kirkland Lake Gold Ltd., including operational and financial highlights. Some key points:
- Kirkland Lake Gold operates high-grade, low-cost gold mines in Canada and Australia, with its two key mines being Fosterville in Australia and Macassa in Canada.
- In 2017, the company produced 596,405 ounces of gold at an operating cash cost of $481 per ounce. Fosterville and Macassa accounted for 77% of production.
- The company is targeting growth to over 1 million ounces of annual gold production by expanding output at Fosterville to over 400,000 ounces by 2020 and doubling production at Macassa to over 400,000 ounces after completing a new
This document provides an overview of Kirkland Lake Gold's operations and financial performance in 2017 and guidance for 2018. Some key points:
- In 2017, Kirkland Lake Gold exceeded production guidance of 580-595k ounces, achieving 596k ounces, and beat cost guidance for cash costs per ounce of $481 versus $475-500 guidance.
- Financial results in 2017 were significantly improved over 2016, with earnings from continuing operations up 237% to $157 million and free cash flow up 756% to $178 million.
- Production in 2018 is expected to increase to approximately 620k ounces, with unit costs expected to further improve to below $500/ounce for cash costs and below $
Kirkland Lake Gold is a gold mining company with operations in Canada and Australia. It is targeting production of one million ounces of gold per year through organic growth projects at its Macassa and Fosterville mines. Fosterville is expected to increase production to over 400,000 ounces per year by 2020 through underground development and exploration success. Macassa is planned to double production to over 400,000 ounces per year following completion of a new shaft. The company has also outlined opportunities to resume operations at other mines and potentially increase production at existing operations.
The document discusses Kirkland Lake Gold's operational and financial results for FY and Q4 2017. Some key points:
- Kirkland Lake Gold achieved record production of 596,405 ounces in 2017, beating improved guidance. Production increased 36% year-over-year.
- Unit costs were strong with operating cash costs of $481/ounce and all-in sustaining costs of $812/ounce, in line with improved guidance.
- Earnings from continuing operations were $157.3 million in 2017, driven by production growth and low unit costs. Free cash flow reached $178.0 million, a 56% increase from 2016.
- Cash and cash equivalents totaled $
Kirkland Lake Gold is targeting production of over 1 million ounces of gold per year through organic growth at its high-grade, low-cost Fosterville and Macassa mines. Fosterville is expected to reach over 400,000 ounces per year by 2020 through continued exploration success and resource growth. Macassa is targeting over 400,000 ounces per year through completion of its #4 shaft expansion project. Kirkland Lake Gold achieved strong financial and operating results in 2017 and the first half of 2018 and is well positioned to achieve its growth targets.
This document provides an operational and financial overview of Kirkland Lake Gold for the February 25-28, 2018 BMO Capital Markets Global Metals & Mining Conference. Key points include:
- Kirkland Lake Gold exceeded its 2017 production and cost guidance and achieved record quarterly production in Q4 2017.
- The company has two high-grade, low-cost operations - Fosterville and Macassa - that accounted for 77% of 2017 production.
- Kirkland Lake Gold is focused on three pillars of value creation: operational excellence, organic growth, and shareholder returns.
- Guidance for 2018 includes higher production of over 620k ounces, lower unit costs, and increased investment in
This document provides an overview of Kirkland Lake Gold's operations and financial results. Some key points:
- Kirkland Lake Gold operates two high-grade, low-cost gold mines - Fosterville in Australia and Macassa in Canada, which accounted for 77% of 2017 production.
- In 2017, the company beat production guidance of 580-595k ounces, with total production of 596k ounces. Cash costs were $481/ounce versus guidance of $475-500/ounce.
- Financially, the company had strong results in 2017 with $157 million in earnings from continuing operations and $178 million in free cash flow, compared to $46.7 million and $113.9 million
This document provides an overview of Kirkland Lake Gold's operations and growth strategy. Some key points:
- Kirkland Lake Gold operates two high-grade, low-cost mines that account for 77% of production - Fosterville in Australia and Macassa in Canada.
- In 2017, the company exceeded production guidance of 596,000 ounces of gold at costs below guidance. Reserves also grew significantly at Fosterville and Macassa.
- The company is targeting 1 million ounces of annual gold production in 5-7 years through expansion of Fosterville and Macassa as well as growth at Taylor mine.
- Exploration success could further extend mine lives, with significant potential identified already at multiple sites.
-
This document provides an overview of Kirkland Lake Gold Ltd., including operational and financial highlights. Some key points:
- Kirkland Lake Gold operates high-grade, low-cost gold mines in Canada and Australia, with its two key mines being Fosterville in Australia and Macassa in Canada.
- In 2017, the company produced 596,405 ounces of gold at an operating cash cost of $481 per ounce. Fosterville and Macassa accounted for 77% of production.
- The company is targeting growth to over 1 million ounces of annual gold production by expanding output at Fosterville to over 400,000 ounces by 2020 and doubling production at Macassa to over 400,000 ounces after completing a new
This document provides an overview of Kirkland Lake Gold's operations and financial performance in 2017 and guidance for 2018. Some key points:
- In 2017, Kirkland Lake Gold exceeded production guidance of 580-595k ounces, achieving 596k ounces, and beat cost guidance for cash costs per ounce of $481 versus $475-500 guidance.
- Financial results in 2017 were significantly improved over 2016, with earnings from continuing operations up 237% to $157 million and free cash flow up 756% to $178 million.
- Production in 2018 is expected to increase to approximately 620k ounces, with unit costs expected to further improve to below $500/ounce for cash costs and below $
Kirkland Lake Gold is a gold mining company with operations in Canada and Australia. It is targeting production of one million ounces of gold per year through organic growth projects at its Macassa and Fosterville mines. Fosterville is expected to increase production to over 400,000 ounces per year by 2020 through underground development and exploration success. Macassa is planned to double production to over 400,000 ounces per year following completion of a new shaft. The company has also outlined opportunities to resume operations at other mines and potentially increase production at existing operations.
The document discusses Kirkland Lake Gold's operational and financial results for FY and Q4 2017. Some key points:
- Kirkland Lake Gold achieved record production of 596,405 ounces in 2017, beating improved guidance. Production increased 36% year-over-year.
- Unit costs were strong with operating cash costs of $481/ounce and all-in sustaining costs of $812/ounce, in line with improved guidance.
- Earnings from continuing operations were $157.3 million in 2017, driven by production growth and low unit costs. Free cash flow reached $178.0 million, a 56% increase from 2016.
- Cash and cash equivalents totaled $
Kirkland Lake Gold is targeting production of over 1 million ounces of gold per year through organic growth at its high-grade, low-cost Fosterville and Macassa mines. Fosterville is expected to reach over 400,000 ounces per year by 2020 through continued exploration success and resource growth. Macassa is targeting over 400,000 ounces per year through completion of its #4 shaft expansion project. Kirkland Lake Gold achieved strong financial and operating results in 2017 and the first half of 2018 and is well positioned to achieve its growth targets.
Kirkland Lake Gold will host its Precious Metals Summit from September 18-20, 2017. The document discusses Kirkland Lake Gold's high-grade gold production in Canada and Australia, with two key assets - Macassa Mine and Fosterville Mine - accounting for 75% of production in H1 2017. It also provides an overview of Kirkland Lake Gold's financial position and capital structure, and emphasizes the company's focus on growing shareholder value through increasing reserves and resources, achieving exploration success, and making strategic investments.
This document provides information about the Precious Metals Summit to be held from September 18-20, 2017. It discusses Kirkland Lake Gold's high-grade gold production assets in Canada and Australia, its strong financial position with $267.4 million in cash, and its focus on growing shareholder value through increasing production, reducing debt, share buybacks, and expanding reserves and resources. Kirkland Lake Gold is on track to meet its 2017 production guidance of 570,000-590,000 ounces of gold at an AISC of $800-850 per ounce.
The document provides an overview of Newmarket Gold Inc., highlighting its producing assets in Australia, solid balance sheet, decreasing costs of production, and exploration success extending mine life at its flagship Fosterville Gold Mine. Key points include record production at Fosterville in Q2 2016, consolidated production guidance of 225,000-235,000 ounces for 2016, year-to-date all-in sustaining costs of $923/ounce, and a cash balance of $69.9 million as of June 30, 2016 providing a strong foundation for continued growth. Drilling is expanding resources and reserves at Fosterville with the goal of adding over 5 years of additional mine life through several new target areas.
Kirkland Lake Gold is a Canadian gold producer with operations in Canada and Australia. It is on track to meet its 2017 production guidance of 580,000 to 595,000 ounces of gold. Kirkland Lake has two main production drivers - the Macassa mine in Canada and the Fosterville mine in Australia. Both mines have high gold grades, long mine lives, and are low-cost producers. Kirkland Lake is focused on increasing shareholder value through production growth, cost reductions, and strategic investments.
The document provides an overview of Newmarket Gold Inc., highlighting its producing assets in Australia, exploration projects, financial position, and team. Key points include:
- Newmarket operates three producing gold mines in Australia that are on track to produce 225,000-235,000 ounces of gold in 2016 at costs of $650-725/oz.
- The flagship Fosterville mine in Victoria achieved a record quarter with production of 37,245 ounces at a record grade of 7.5 g/t and costs of $440/oz.
- Newmarket has a strong balance sheet with $69.9 million in cash and $2.8 million in debt as of June 30, 2016.
- The company
Kirkland Lake Gold and Newmarket Gold announced a business combination to create a new mid-tier gold producer. In Q3 2016, Newmarket achieved record quarterly gold production of 55,794 ounces and generated $25.4 million in operating cash flow. Fosterville had a strong quarterly performance with production of 36,967 ounces at an operating cash cost of $471 per ounce and all-in sustaining costs of $765 per ounce. For the first nine months of 2016, Newmarket achieved record gold production of 175,041 ounces and record mine operating income of $67.7 million.
Kirkland lake gold investor presentation feb bmo conference finalkirklandlakegoldinc
1. Kirkland Lake Gold is a tier one gold producer with operations in Canada and Australia that is forecasting 2017 gold production of 500,000-525,000 ounces at an operating cash cost of $625-675 per ounce and all-in sustaining costs of $950-1,000 per ounce.
2. As of December 31, 2016, Kirkland Lake Gold had a strong cash position of US$234 million and net cash of US$145 million providing financial flexibility.
3. The company has significant exploration potential across its Canadian and Australian assets and has budgeted US$45-55 million for growth exploration in 2017.
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. It is targeting production of over 1 million ounces of gold per year through organic growth projects. Its two main mines, Fosterville in Australia and Macassa in Canada, are expected to increase production significantly over the next few years. Fosterville is targeting over 400,000 ounces per year by 2020 through underground exploration, while Macassa plans to double production to over 400,000 ounces once its #4 shaft project is completed in 5-7 years. Overall, Kirkland Lake Gold aims to achieve its million ounce goal through internal growth at its existing mines as well as potential new projects.
This document discusses a potential business combination between Kirkland Lake Gold and Newmarket Gold that could create significant value. The combined company would be a mid-tier gold producer with estimated 2016 production of over 500,000 ounces of gold at cash costs below $650/ounce. The core Macassa, Fosterville, and Taylor mines represent over 330,000 ounces of low-cost production. The combined company would have a strong financial position with over C$320 million in cash and low net debt. The business combination could generate synergies and provide a re-rating opportunity for shareholders given the company's diversified, high-quality asset base in Canada and Australia.
Nmi and-klg-investor-presentation-business-combination-oct-12-2016Newmarket Gold Inc.
The document discusses a proposed business combination between Kirkland Lake Gold Inc. and Newmarket Gold Inc. that would create a new mid-tier gold producer. Some key points made in the document include:
- The combined company in 2016 is estimated to produce over 500,000 ounces of gold at cash costs below $650/oz and all-in sustaining costs below $1,015/oz.
- The Macassa, Fosterville, and Taylor mines which make up over 330,000 ounces of annual production have cash costs below $600/oz and AISC below $800/oz.
- The combined company will have over $275 million in cash and is expected to generate over $200
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. In 2017, it expects to produce 500,000-525,000 ounces of gold from five producing mines. Its cornerstone assets, the Macassa, Fosterville, and Taylor mines, are expected to produce 390,000 ounces in 2017. Kirkland Lake Gold believes it offers significant value as its enterprise value per ounce of 2017E production and price to 2017E cash flow are below peer averages, representing upside potential. It also has a strong balance sheet and targets low-cost production below $950-1,000 per ounce.
27 klg-corp presentation-nbf canadian miners conf-london-09nov16kirklandlakegoldinc
The document provides production and financial results for Kirkland Lake Gold and Newmarket Gold for Q3 2016 and year-to-date. Key highlights include Kirkland Lake achieving record quarterly gold production of 77,274 ounces at an operating cost of US$540/oz and Newmarket producing 55,794 ounces. Combined pro-forma free cash flow for the companies was $88 million for Q3 2016 with $320 million in combined cash.
This document provides an overview of Kirkland Lake Gold's Macassa mine in Ontario, Canada. Some key points:
- Macassa is a high-grade, low-cost gold mine that achieved record production of 194,237 ounces in 2017 at a cash cost of $523/ounce. Production in Q1 2018 was 54,038 ounces at a cash cost of $499/ounce.
- Mineral reserves increased 1% in 2017 to over 2 million ounces despite depletion, and mineral resources grew significantly with a 58% increase in measured and indicated resources.
- The majority of reserves are concentrated in the high-grade South Mine Complex below the 5600 level, with grades generally increasing at depth.
This document provides a summary of Teranga Gold Corporation's Q1 2013 operational results conference call. The summary includes:
- Q1 2013 production was 68,301 ounces, a 63% increase over Q1 2012, with lower cash costs of $535/oz due to higher grades and throughput.
- A $50 million equipment financing facility with Macquarie was finalized to replace an existing lease and fund equipment purchases.
- An agreement was reached with the Senegalese government establishing a long-term partnership and resolving tax issues.
- 2013 guidance is reiterated with production of 190,000-210,000 ounces and cash costs of $650-700/oz, focusing on generating free cash flow.
Duncan going for gold in everything we doREDB_East
- Kirkland Lake Gold had record production in 2018 of 723.7 koz at consolidated cash costs of $362/oz and AISC of $685/oz, generating $273.9 million in net earnings.
- Guidance for 2019 is improved with production expected between 920-1,000 koz at significantly lower costs of $300-320/oz and AISC of $520-560/oz.
- The Macassa mine in Northern Ontario had record production in 2018 of 240.1 koz and is forecast to grow to over 400,000 oz/year supported by the #4 shaft project.
The document discusses a proposed transaction to combine Kirkland Lake Gold and Newmarket Gold. Key details include:
- Kirkland Lake Gold will acquire Newmarket Gold via a plan of arrangement, creating a company with combined 2016 gold production of over 500koz and cash costs below $650/oz.
- Newmarket shareholders will receive 0.475 Kirkland Lake shares for each Newmarket share, implying a value of C$5.28/Newmarket share based on Kirkland Lake's share price.
- The combined company will have a diversified portfolio of seven mines across Canada and Australia, anchored by high-grade, low cost assets like Macassa, Fosterville, and Taylor mines.
The document discusses the proposed acquisition of Newmarket Gold Inc. by Kirkland Lake Gold Inc. which would create a new mid-tier gold producer. The combined company would have annual gold production of over 500,000 ounces with cash costs below $650/ounce and AISC below $1,015/ounce. The portfolio would include seven mines and five mills across Canada and Australia, anchored by the high-grade Macassa, Fosterville, and Taylor mines. The transaction would result in a company with over $275 million in cash and potential for significant free cash flow generation and exploration upside.
China Gold International Resources provided an overview of its operations and financial performance. It reported increased production and revenues for Q1 2020 compared to Q1 2019. It also highlighted its investment grade credit rating, strong investor backing from China National Gold Group, and ability to raise sizable low-cost financing. China Gold International Resources aims to further increase production and pursue acquisition opportunities in 2020.
Ur energy's january 2017 corporate presentationUr-Energy
This document provides an overview and summary of Ur-Energy Inc., a uranium mining company. Key points include:
- Ur-Energy operates the Lost Creek in-situ recovery uranium facility in Wyoming and is advancing the Shirley Basin project.
- Lost Creek has reliably produced over 2 million pounds of uranium since 2013 and resource expansion continues.
- The company aims to realize better uranium sales prices through long-term sales agreements.
- Global nuclear power capacity and uranium demand are projected to significantly increase in the coming years, driven by countries like China and Russia. Major producers have announced reductions in supply.
China Gold International Resources Corp. Ltd. presented information on its proven organic growth strategy and acquisition potential. The presentation discussed the company's strong track record of increased production and revenue over the past decade, solid investment grade credit rating, and focus on both organic growth and acquisitive growth. Details were provided on the company's key assets, including the Jiama copper-gold-polymetallic mine, as well as the company's future potential.
- Richmont Mines is positioning its Island Gold Mine in Ontario for transformational growth through increased development and exploration.
- In 2015, the company plans to spend $48 million at Island Gold, including $29 million for project development and exploration to extend mine life at depth.
- Goals for 2015 include completing underground development including ramps and drilling to upgrade and expand resources below 500 meters depth. Mining and milling studies will evaluate options to increase production long-term.
Gran Colombia Gold is a Canadian-listed gold producer focused on its high-grade Segovia Operations in Colombia. It is continuing to expand and mechanize underground mining operations at Segovia, which produced over 165,000 ounces of gold in the last 12 months. Gran Colombia also owns the Marmato Project, one of the largest undeveloped gold deposits globally. It is evaluating expanding underground mining at Marmato while incorporating additional deep mineralization resources. The company aims to continue reducing debt and potential share dilution ahead of debt maturities using excess cash flow. Gran Colombia sees upside from further resource expansion and exploration at its assets in Colombia.
Kirkland Lake Gold will host its Precious Metals Summit from September 18-20, 2017. The document discusses Kirkland Lake Gold's high-grade gold production in Canada and Australia, with two key assets - Macassa Mine and Fosterville Mine - accounting for 75% of production in H1 2017. It also provides an overview of Kirkland Lake Gold's financial position and capital structure, and emphasizes the company's focus on growing shareholder value through increasing reserves and resources, achieving exploration success, and making strategic investments.
This document provides information about the Precious Metals Summit to be held from September 18-20, 2017. It discusses Kirkland Lake Gold's high-grade gold production assets in Canada and Australia, its strong financial position with $267.4 million in cash, and its focus on growing shareholder value through increasing production, reducing debt, share buybacks, and expanding reserves and resources. Kirkland Lake Gold is on track to meet its 2017 production guidance of 570,000-590,000 ounces of gold at an AISC of $800-850 per ounce.
The document provides an overview of Newmarket Gold Inc., highlighting its producing assets in Australia, solid balance sheet, decreasing costs of production, and exploration success extending mine life at its flagship Fosterville Gold Mine. Key points include record production at Fosterville in Q2 2016, consolidated production guidance of 225,000-235,000 ounces for 2016, year-to-date all-in sustaining costs of $923/ounce, and a cash balance of $69.9 million as of June 30, 2016 providing a strong foundation for continued growth. Drilling is expanding resources and reserves at Fosterville with the goal of adding over 5 years of additional mine life through several new target areas.
Kirkland Lake Gold is a Canadian gold producer with operations in Canada and Australia. It is on track to meet its 2017 production guidance of 580,000 to 595,000 ounces of gold. Kirkland Lake has two main production drivers - the Macassa mine in Canada and the Fosterville mine in Australia. Both mines have high gold grades, long mine lives, and are low-cost producers. Kirkland Lake is focused on increasing shareholder value through production growth, cost reductions, and strategic investments.
The document provides an overview of Newmarket Gold Inc., highlighting its producing assets in Australia, exploration projects, financial position, and team. Key points include:
- Newmarket operates three producing gold mines in Australia that are on track to produce 225,000-235,000 ounces of gold in 2016 at costs of $650-725/oz.
- The flagship Fosterville mine in Victoria achieved a record quarter with production of 37,245 ounces at a record grade of 7.5 g/t and costs of $440/oz.
- Newmarket has a strong balance sheet with $69.9 million in cash and $2.8 million in debt as of June 30, 2016.
- The company
Kirkland Lake Gold and Newmarket Gold announced a business combination to create a new mid-tier gold producer. In Q3 2016, Newmarket achieved record quarterly gold production of 55,794 ounces and generated $25.4 million in operating cash flow. Fosterville had a strong quarterly performance with production of 36,967 ounces at an operating cash cost of $471 per ounce and all-in sustaining costs of $765 per ounce. For the first nine months of 2016, Newmarket achieved record gold production of 175,041 ounces and record mine operating income of $67.7 million.
Kirkland lake gold investor presentation feb bmo conference finalkirklandlakegoldinc
1. Kirkland Lake Gold is a tier one gold producer with operations in Canada and Australia that is forecasting 2017 gold production of 500,000-525,000 ounces at an operating cash cost of $625-675 per ounce and all-in sustaining costs of $950-1,000 per ounce.
2. As of December 31, 2016, Kirkland Lake Gold had a strong cash position of US$234 million and net cash of US$145 million providing financial flexibility.
3. The company has significant exploration potential across its Canadian and Australian assets and has budgeted US$45-55 million for growth exploration in 2017.
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. It is targeting production of over 1 million ounces of gold per year through organic growth projects. Its two main mines, Fosterville in Australia and Macassa in Canada, are expected to increase production significantly over the next few years. Fosterville is targeting over 400,000 ounces per year by 2020 through underground exploration, while Macassa plans to double production to over 400,000 ounces once its #4 shaft project is completed in 5-7 years. Overall, Kirkland Lake Gold aims to achieve its million ounce goal through internal growth at its existing mines as well as potential new projects.
This document discusses a potential business combination between Kirkland Lake Gold and Newmarket Gold that could create significant value. The combined company would be a mid-tier gold producer with estimated 2016 production of over 500,000 ounces of gold at cash costs below $650/ounce. The core Macassa, Fosterville, and Taylor mines represent over 330,000 ounces of low-cost production. The combined company would have a strong financial position with over C$320 million in cash and low net debt. The business combination could generate synergies and provide a re-rating opportunity for shareholders given the company's diversified, high-quality asset base in Canada and Australia.
Nmi and-klg-investor-presentation-business-combination-oct-12-2016Newmarket Gold Inc.
The document discusses a proposed business combination between Kirkland Lake Gold Inc. and Newmarket Gold Inc. that would create a new mid-tier gold producer. Some key points made in the document include:
- The combined company in 2016 is estimated to produce over 500,000 ounces of gold at cash costs below $650/oz and all-in sustaining costs below $1,015/oz.
- The Macassa, Fosterville, and Taylor mines which make up over 330,000 ounces of annual production have cash costs below $600/oz and AISC below $800/oz.
- The combined company will have over $275 million in cash and is expected to generate over $200
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. In 2017, it expects to produce 500,000-525,000 ounces of gold from five producing mines. Its cornerstone assets, the Macassa, Fosterville, and Taylor mines, are expected to produce 390,000 ounces in 2017. Kirkland Lake Gold believes it offers significant value as its enterprise value per ounce of 2017E production and price to 2017E cash flow are below peer averages, representing upside potential. It also has a strong balance sheet and targets low-cost production below $950-1,000 per ounce.
27 klg-corp presentation-nbf canadian miners conf-london-09nov16kirklandlakegoldinc
The document provides production and financial results for Kirkland Lake Gold and Newmarket Gold for Q3 2016 and year-to-date. Key highlights include Kirkland Lake achieving record quarterly gold production of 77,274 ounces at an operating cost of US$540/oz and Newmarket producing 55,794 ounces. Combined pro-forma free cash flow for the companies was $88 million for Q3 2016 with $320 million in combined cash.
This document provides an overview of Kirkland Lake Gold's Macassa mine in Ontario, Canada. Some key points:
- Macassa is a high-grade, low-cost gold mine that achieved record production of 194,237 ounces in 2017 at a cash cost of $523/ounce. Production in Q1 2018 was 54,038 ounces at a cash cost of $499/ounce.
- Mineral reserves increased 1% in 2017 to over 2 million ounces despite depletion, and mineral resources grew significantly with a 58% increase in measured and indicated resources.
- The majority of reserves are concentrated in the high-grade South Mine Complex below the 5600 level, with grades generally increasing at depth.
This document provides a summary of Teranga Gold Corporation's Q1 2013 operational results conference call. The summary includes:
- Q1 2013 production was 68,301 ounces, a 63% increase over Q1 2012, with lower cash costs of $535/oz due to higher grades and throughput.
- A $50 million equipment financing facility with Macquarie was finalized to replace an existing lease and fund equipment purchases.
- An agreement was reached with the Senegalese government establishing a long-term partnership and resolving tax issues.
- 2013 guidance is reiterated with production of 190,000-210,000 ounces and cash costs of $650-700/oz, focusing on generating free cash flow.
Duncan going for gold in everything we doREDB_East
- Kirkland Lake Gold had record production in 2018 of 723.7 koz at consolidated cash costs of $362/oz and AISC of $685/oz, generating $273.9 million in net earnings.
- Guidance for 2019 is improved with production expected between 920-1,000 koz at significantly lower costs of $300-320/oz and AISC of $520-560/oz.
- The Macassa mine in Northern Ontario had record production in 2018 of 240.1 koz and is forecast to grow to over 400,000 oz/year supported by the #4 shaft project.
The document discusses a proposed transaction to combine Kirkland Lake Gold and Newmarket Gold. Key details include:
- Kirkland Lake Gold will acquire Newmarket Gold via a plan of arrangement, creating a company with combined 2016 gold production of over 500koz and cash costs below $650/oz.
- Newmarket shareholders will receive 0.475 Kirkland Lake shares for each Newmarket share, implying a value of C$5.28/Newmarket share based on Kirkland Lake's share price.
- The combined company will have a diversified portfolio of seven mines across Canada and Australia, anchored by high-grade, low cost assets like Macassa, Fosterville, and Taylor mines.
The document discusses the proposed acquisition of Newmarket Gold Inc. by Kirkland Lake Gold Inc. which would create a new mid-tier gold producer. The combined company would have annual gold production of over 500,000 ounces with cash costs below $650/ounce and AISC below $1,015/ounce. The portfolio would include seven mines and five mills across Canada and Australia, anchored by the high-grade Macassa, Fosterville, and Taylor mines. The transaction would result in a company with over $275 million in cash and potential for significant free cash flow generation and exploration upside.
China Gold International Resources provided an overview of its operations and financial performance. It reported increased production and revenues for Q1 2020 compared to Q1 2019. It also highlighted its investment grade credit rating, strong investor backing from China National Gold Group, and ability to raise sizable low-cost financing. China Gold International Resources aims to further increase production and pursue acquisition opportunities in 2020.
Ur energy's january 2017 corporate presentationUr-Energy
This document provides an overview and summary of Ur-Energy Inc., a uranium mining company. Key points include:
- Ur-Energy operates the Lost Creek in-situ recovery uranium facility in Wyoming and is advancing the Shirley Basin project.
- Lost Creek has reliably produced over 2 million pounds of uranium since 2013 and resource expansion continues.
- The company aims to realize better uranium sales prices through long-term sales agreements.
- Global nuclear power capacity and uranium demand are projected to significantly increase in the coming years, driven by countries like China and Russia. Major producers have announced reductions in supply.
China Gold International Resources Corp. Ltd. presented information on its proven organic growth strategy and acquisition potential. The presentation discussed the company's strong track record of increased production and revenue over the past decade, solid investment grade credit rating, and focus on both organic growth and acquisitive growth. Details were provided on the company's key assets, including the Jiama copper-gold-polymetallic mine, as well as the company's future potential.
- Richmont Mines is positioning its Island Gold Mine in Ontario for transformational growth through increased development and exploration.
- In 2015, the company plans to spend $48 million at Island Gold, including $29 million for project development and exploration to extend mine life at depth.
- Goals for 2015 include completing underground development including ramps and drilling to upgrade and expand resources below 500 meters depth. Mining and milling studies will evaluate options to increase production long-term.
Gran Colombia Gold is a Canadian-listed gold producer focused on its high-grade Segovia Operations in Colombia. It is continuing to expand and mechanize underground mining operations at Segovia, which produced over 165,000 ounces of gold in the last 12 months. Gran Colombia also owns the Marmato Project, one of the largest undeveloped gold deposits globally. It is evaluating expanding underground mining at Marmato while incorporating additional deep mineralization resources. The company aims to continue reducing debt and potential share dilution ahead of debt maturities using excess cash flow. Gran Colombia sees upside from further resource expansion and exploration at its assets in Colombia.
August 2016 - Second Quarter 2016 Financial Results - August 8, 2016Adnet Communications
The document provides financial and operational results for Richmont Mines Inc. for the second quarter of 2016. Some key highlights include:
- Gold production of 23,320 ounces for Q2 2016, with cash costs of $903/ounce and AISC of $1,330/ounce.
- Strong performance at Island Gold mine, the company's flagship asset, with production growth of 24% compared to Q2 2015 and costs well below guidance.
- Overall company remains on track to meet or exceed 2016 consolidated guidance of 87,000-97,000 ounces of gold production.
This document provides safety guidelines and procedures for visitors touring the Island Gold Mine. It outlines what personal protective equipment is required, such as hard hats, safety glasses, and steel-toed boots. It instructs visitors to stay with their guide at all times and not to engage in horseplay. Emergency procedures are also described, such as remaining calm and following a guide's instructions. The second part of the document discusses underground safety requirements like tagging in/out and using three points of contact to enter/exit vehicles. Medical assistance is available at all times during the tour.
Richmont Mines reported its second quarter 2017 financial results. Key highlights include:
- Solid production of 31,249 ounces of gold and record low costs at the Island Gold Mine.
- Net earnings of $0.17 per share and operating cash flow of $0.39 per share.
- Cash position of $96 million, increased from prior quarter.
- Exploration success extending mineralization further down plunge at Island Gold.
- Expansion Case PEA supports increasing Island Gold production by 22% with low capital costs.
This document provides an overview of Richmont Mines Inc., including:
- Forward-looking statements about factors that could impact results and risks to US investors regarding resource estimates.
- Richmont has a quality asset base in Canada with growing production and decreasing costs, significant exploration potential, and a strong balance sheet.
- The Island Gold mine is on track for a record year of production and declining costs, and a PEA outlines plans to expand through deeper mining.
- The Beaufor and Monique mines along with the Camflo mill also contribute to Richmont's production.
- Richmont Mines is a Canadian gold mining company that has been producing gold since 1991, with over 1.4 million ounces produced to date.
- It currently operates the Island Gold Mine in Ontario and the Beaufor Mine and Monique Mine properties in Quebec.
- For 2014, Richmont Mines is targeting gold production of 75,000-85,000 ounces and had produced 48,171 ounces in the first half of 2014.
- A key asset is the Island Gold Mine, which has produced over 303,000 ounces of gold since 2007 and for which Richmont Mines is developing a new 1.1 million ounce inferred resource below the existing mine.
Richmont Mines Inc. held its 2014 annual meeting on May 7, 2015. In 2014, the company saw a 49% increase in gold sales to 94,503 ounces, generated net earnings of $8.2 million, and had operating cash flow of $27.3 million. At the end of 2014, Richmont had total proven and probable gold reserves of 217,950 ounces at an average grade of 6.43 g/t.
- North American Palladium Ltd. released its Third Quarter Report for 2015 which discusses its financial results and mining operations.
- The report details a recapitalization transaction completed in the quarter to improve the company's financial position as well as workforce reductions to reduce costs.
- Operationally, production at the Lac des Iles mine met expectations for the quarter but costs were higher than planned which impacted financial results.
- Production for Q1 2016 was a record 32,369 ounces of gold, a 25% increase over Q1 2015, driven by a record quarter from Island Gold. Cash costs and AISC both decreased by 18% and 12% respectively.
- Revenue was a record $52.6 million for Q1 2016. The company has a strong cash position of $61.2 million and is well positioned for organic growth at its mines in Quebec and Ontario.
- Exploration continues to show potential to expand resources at Island Gold both laterally and at depth. Drilling results compare favorably to the previous deep resource block.
- Richmont Mines provides a summary of its operational highlights for Q4 2016 and full-year 2016, noting it achieved record production and cash costs within revised guidance.
- The document discusses the Island Gold Mine specifically, noting 51% production increase over 2015 and 24% reduction in costs, with opportunities for further growth and decreasing costs profile.
- Preliminary estimates indicate potential for positive reserve adjustments at Island Gold from 2016 grade reconciliations being higher than the December 2015 reserve model.
The document provides an overview of Richmont Mines' first quarter 2017 financial results and operations. Key highlights include:
- Solid production of 29,401 ounces of gold and costs in line with guidance.
- Island Gold Mine performed well with 23,772 ounces produced at low costs.
- Cash position of $75.2 million and expected cash flows will fund potential mill expansion at Island Gold.
- Expansion Case PEA for Island Gold Mine expected in Q2 2017 and aims to optimize cash flow generation.
The document discusses forward-looking statements about the Company's future performance that involve known and unknown risks and uncertainties. It notes that actual exploration and development results, estimates of reserves and resources, timing of production, costs, profitability, and other factors can differ materially from forward-looking statements. It also lists several risk factors that could affect the Company's future results, including exploration, development, mining and operational risks as well as risks from commodity price fluctuations, access to capital and financing, environmental liability, and dependence on joint venture partners. The qualified person for the technical data is identified as Mr. Gregory Smith, P. Geo., Vice President of Exploration for the Company.
Richmont Mines is positioning itself for sustainable growth through its quality asset base in Canada including its growing production profile from the high-grade Island Gold Mine. The company is on track to meet or exceed revised 2016 guidance and has a strong balance sheet to fund its strategic growth plan. Recent exploration drilling continues to demonstrate potential for resource expansion at Island Gold laterally and at depth.
This document provides information about Richmont Mines Inc.'s annual meeting, including:
1) It summarizes Richmont's 2011 financial and operational results, including record earnings and increased gold reserves at its operating mines.
2) It outlines Richmont's goals for 2012, which include rebuilding its share price, optimizing its Wasamac gold project, and completing an acquisition.
3) It provides an overview of Richmont's property portfolio and acquisition strategy, and summarizes recent corporate developments and Q1 2012 financial results.
Richmont Mines is positioned for sustainable growth with a quality asset base in Canada. Their reserves increased 187% in 2015, extending the mine life at Island Gold to 7 years and Beaufor to over 2 years. At Island Gold, they plan to increase production to 78,000 ounces annually from 2017-2022 at lower costs through expansion and exploration. Richmont has a strong balance sheet, low shares outstanding, and exposure to the favorable Canadian dollar to support their strategic growth plan through increasing production and cash flow.
Richmont Mines is positioning itself for sustainable growth through its quality Canadian asset base and growing production profile. In 2017, Richmont expects gold production to increase up to 15% to 120,000 ounces, while cash costs per ounce are forecast to decrease up to 8% to $640. At the Island Gold Mine, reserves increased 34% to 752,000 ounces at an 11% higher grade of 9.17 g/t gold. An expansion case preliminary economic assessment is planned in Q2 2017 to evaluate increasing throughput to 1,100 tpd.
This document provides an overview of Richmont Mines Inc., including its asset base in Canada, growing production profile, decreasing cost structure, and significant exploration potential. Key points include: Q2 production of 23,320 ounces of gold at cash costs of $903 per ounce; reserves increasing 187% at Island Gold mine and 95% at Beaufor mine; Island Gold mine life extended to 7 years with 3 years of mine life pre-developed; and ongoing exploration programs aimed at further expanding resources and mine life at Island Gold.
Richmont Mines reported third quarter 2016 financial results and operational highlights. Key points include:
- In-line production at Island Gold mine in Q3, with positive reconciliation of 37% compared to reserves.
- Beaufor mine production was lower due to equipment availability issues, but costs are expected to decrease as higher grade stoping increases.
- Strong cash position of $78.9 million to fund potential expansion at Island Gold to 1,100 tpd production.
- Near-mine drilling continuing to expand resources at Island Gold to incorporate in expansion study in H1 2017.
Richmont Mines provides guidance for 2017 that projects a potential increase in gold production of up to 15% compared to 2016 levels, and a potential decrease in costs of up to 8%. Key objectives for 2017 include completing a positive expansion case preliminary economic assessment for the Island Gold Mine and continuing reserve and resource growth through exploration. Guidance forecasts 2017 production of 110,000-120,000 ounces of gold with cash costs per ounce of $640-$680 in US dollars.
This document provides a summary of Kirkland Lake Gold's Q1 2018 conference call and webcast. The summary includes:
- Net earnings quadrupled from Q1 2017 to $53.8 million, with record earnings from mine operations and EBITDA. Continued strong free cash flow of $50.2 million.
- Production in Q1 2018 was ahead of plan and 13% higher than Q1 2017, with record monthly production in March. Unit costs improved year-over-year.
- Guidance for 2018 remains on track with production expected to increase in the second half of the year and unit costs to improve from Q1 levels.
- Kirkland Lake Gold achieved record gold production in 2016 of 314,495 ounces, surpassing guidance. Production costs were below guidance at $571 per ounce and all-in sustaining costs were below guidance at $923 per ounce.
- In 2016 the company had record revenue of $406.7 million based on gold sales of 329,489 ounces at an average realized price of $1,234 per ounce.
- The company had a strong financial position at the end of 2016 with $234.9 million in cash and $92.3 million in working capital. Cash balance increased further to $280 million in Q1 2017.
This document provides information about Kirkland Lake Gold's Denver Gold Forum taking place from September 24-27, 2017. It discusses Kirkland Lake Gold's high-grade gold production assets in Canada and Australia, its strong financial position with $267.4 million in cash, and its focus on growing shareholder value through increasing production, reducing debt, building cash flow, introducing dividends, and achieving exploration success to increase reserves and resources.
1) KL Gold is forecasting gold production of 500,000-525,000 ounces in 2017 from its five gold mines located across Canada and Australia.
2) It has a strong balance sheet with $280 million in cash as of March 31, 2017 and low-cost production profile, with 2016 operating costs of $571/ounce and all-in sustaining costs of $923/ounce.
3) The company plans significant exploration spending of $45-55 million in 2017 to further unlock the discovery and expansion potential around its existing operations.
Kirkland Lake Gold held a Q2 2017 conference call and webcast to discuss their financial and operating results. Some of the key highlights included:
- Record gold production of 160,305 ounces in Q2 2017, a 23% increase over Q1 2017.
- Operating cash costs per ounce and AISC per ounce came in below guidance for Q2 2017.
- Fosterville Mine had record production of 77,069 ounces in Q2 2017 and is on track to meet improved full-year production and cost guidance.
- The company is focused on profitability, free cash flow, and a disciplined approach to operations to drive shareholder value.
1. Kirkland Lake Gold presents its investment thesis, outlining its tier 1 operating platform in Canada and Australia, strong balance sheet, low-cost production, and district-scale exploration potential.
2. The presentation provides guidance for 2017 of 530,000-570,000 ounces of gold production from its five mines and consolidated operating costs below $525 per ounce and all-in sustaining costs below $900 per ounce.
3. Kirkland Lake Gold highlights its strong cash position of $280 million and initiation of a quarterly dividend as demonstrating its solid financial position.
This document is a marketing presentation for Kirkland Lake Gold (TSX: KL, NYSE: KL) dated November 6, 2017. It summarizes Kirkland Lake Gold as a high-grade, low-cost gold producer with assets in Canada and Australia. In the first nine months of 2017, Kirkland Lake Gold produced over 429,000 ounces of gold and is on track to meet its 2017 production guidance of 580,000 to 595,000 ounces. Kirkland Lake Gold has a strong financial position with over $211 million in cash and is focused on growing shareholder value through increasing production, reducing costs, repurchasing shares, and paying dividends.
- Kirkland Lake Gold is a high-grade, low-cost gold producer with operations in Canada and Australia.
- In the first nine months of 2017, the company produced 429,800 ounces of gold, on track to meet its full-year guidance of 570,000-590,000 ounces.
- Kirkland Lake Gold has a strong balance sheet with $210 million in cash and is focused on increasing shareholder value through growing production, reducing costs, debt repayment, share buybacks and introducing dividends.
Kirkland Lake Gold is a high-grade, low-cost gold producer with two key assets, Fosterville in Australia and Macassa in Canada. In the first half of 2017, Kirkland Lake produced over 290,000 ounces of gold and is on track to meet its 2017 guidance of 570,000-590,000 ounces. Fosterville has seen significant increases in its underground mineral reserves and is expected to be a key value driver, with production guidance increased to 250,000-260,000 ounces at significantly lower costs. Macassa also provides high-grade, low-cost production from its long-life reserves and large resource base. Exploration continues to expand resources at both key assets.
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. In 2017, the company achieved record production of 596,405 ounces of gold, beating its guidance. Kirkland Lake's two key assets, Fosterville in Australia and Macassa in Canada, accounted for 77% of 2017 production. Kirkland Lake is targeting production growth to over 1 million ounces per year within 5-7 years through organic growth projects at Fosterville and Macassa. The company plans increased investment in exploration to further expand resources and reserves.
Kirkland Lake Gold is a low-cost gold producer with operations in Canada and Australia. In the first half of 2017, the company produced 290,733 ounces of gold at an all-in sustaining cost of $794 per ounce. Kirkland Lake has increased its 2017 production and cost guidance twice already based on strong results from its Macassa and Fosterville mines. The company is focused on growing reserves and resources through exploration while maintaining a strong financial position.
1) Kirkland Lake Gold is forecasting gold production of 500,000-525,000 ounces in 2017 from its Canadian and Australian operations, with an operating cash cost of $625-675 per ounce and all-in sustaining costs of $950-1000 per ounce.
2) As of December 31, 2016, Kirkland Lake Gold had a strong cash position of US$234 million and net cash of US$145 million after accounting for convertible debentures.
3) The company has a significant exploration budget of US$45-55 million planned for 2017 to evaluate expansion and discovery opportunities across its district-scale land holdings.
- Kirkland Lake Gold is a low-cost gold producer with operations in Canada and Australia focused on increasing shareholder value through strong free cash flow, exploration success, and growing reserves and resources.
- In the first half of 2017, Kirkland Lake produced 290,733 ounces of gold and is on track to meet its 2017 guidance of 570,000 to 590,000 ounces.
- The company has a strong financial position with $267.4 million in cash at the end of June 2017 and a net cash position of $224 million.
This corporate presentation provides an overview of Kirkland Lake Gold's high-grade gold production assets in Australia and Canada, its financial strength and growth strategy. The company has two main producing assets, Fosterville in Australia and Macassa in Canada, which together accounted for 76% of gold production in the first nine months of 2017. Kirkland Lake is targeting extensive organic growth through increased production at Fosterville and Macassa, ongoing reserve growth through exploration success, and generating significant free cash flow.
Kirkland Lake Gold is a gold producer with operations in Canada and Australia. It is targeting extensive organic growth through continued exploration success and reserve growth at its Fosterville mine in Australia and Macassa mine in Canada. Kirkland Lake Gold has reported significant exploration successes recently that have doubled reserves at Fosterville and increased reserves by 37% at Macassa. The company is also generating substantial free cash flow and has a strong balance sheet, positioning it to invest capital for further value creation.
Kirkland Lake Gold is a gold producer with tier one gold assets in Canada and Australia. In 2016, the company exceeded production guidance of over 500,000 ounces of gold. Kirkland Lake Gold has a strong balance sheet with $234 million in cash and low-cost production below $600/ounce. The company's cornerstone mines, Macassa in Canada and Fosterville in Australia, have high gold grades of over 7 grams per tonne and significant exploration potential. Drilling at Fosterville continues to intersect high-grade gold at depth, demonstrating potential for further resource growth.
Kirkland lake gold investor presentation jan23 cibc finalkirklandlakegoldinc
Kirkland Lake Gold is a gold producer with tier one gold assets in Canada and Australia. In 2016, the company exceeded production guidance of over 500,000 ounces of gold. Kirkland has a strong balance sheet with $234 million in cash and low-cost production below $600/ounce. The company's cornerstone mines - Macassa, Fosterville, and Taylor - have exploration potential for resource growth and provide approximately 75% of production from high grade reserves. Drilling at Fosterville continues to intersect high gold grades at depth, demonstrating potential for further resource expansion at this cornerstone asset.
Kirkland lake gold investor presentation jan23 cibc finalkirklandlakegoldinc
Kirkland Lake Gold is a gold producer with tier one assets in Canada and Australia. In 2016, the company exceeded production guidance of over 500,000 ounces of gold. Kirkland has a strong balance sheet with $234 million in cash and low-cost production below $600/ounce. The company's cornerstone mines - Macassa, Fosterville, and Taylor - have high grades above 6 g/t gold and significant exploration potential. Drilling at Fosterville continues to intersect high grades at depth, demonstrating potential for further resource growth.
Kirkland Lake Gold provides a summary of its operations and financial position. It produced 295,838 ounces of gold in 2016, exceeding guidance of 270,000-290,000 ounces. Production from its Canadian operations, including the Macassa and Holt Mine Complexes, exceeded high end of guidance for 2016. Kirkland Lake has tier one gold mines in Canada and Australia, with projected 2017 production of 500,000-525,000 ounces. It has a strong balance sheet with $234 million in cash and projected costs of less than $675/oz and all-in sustaining costs of less than $1,000/oz. Kirkland Lake represents a significant value proposition compared to peers given its low enterprise value per ounce
The document is an investor presentation for KL Gold outlining its 2017 outlook. It provides guidance for 2017 gold production of 500,000-525,000 ounces across its five mines in Canada and Australia. It also provides estimated 2017 operating costs per ounce and all-in sustaining costs per ounce, as well as budgets for sustaining capital, growth capital, exploration expenditures, royalties, and general and administrative costs.
Similar to Q3 earnings call slides nov22017 v3 (20)
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
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2. KLGOLD.COM
TSX:KL
NYSE:KL
FORWARD LOOKING STATEMENTS
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans,
intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often
identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information
regarding: (i) the amount of future production over any period; (ii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's
disclosure materials; and (iii) future exploration plans.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect KL Gold’s management’s expectations, estimates or projections
concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although
Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue
reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the
combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability
of Kirkland Lake Gold to successfully integrate the operations and employees of its Canadian and Australian operations, and realize synergies and cost savings, and to the extent,
anticipated; the potential impact on exploration activities; the potential impact on relationships, including with regulatory bodies, employees, suppliers, customers and
competitors; the re-rating potential following the consummation of the merger; changes in general economic, business and political conditions, including changes in the financial
markets; changes in applicable laws; and compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the
business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by
Kirkland Lake Gold , including Kirkland Lake Gold’s annual information form, financial statements and related MD&A for the first quarter ended March 31, 2017 and their interim
financial reports and related MD&A for the period ended March 31, 2017 filed with the securities regulatory authorities in certain provinces of Canada and available at
www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold has attempted to identify important risks,
uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Kirkland Lake
Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Use of Non-GAAP Measures
This Presentation refers to average realized price, operating costs, all-in sustaining costs per ounce of gold sold, free cash flow and cash costs of production because certain
readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provide
additional information and are non-GAAP measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These
measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs
presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures.
2
3. November 2, 2017
CEO OVERVIEW
TONY MAKUCH
KLGOLD.COM
TSX: KL
NYSE:KL
HIGH-GRADE GOLD PRODUCTION | GROWTH | FINANCIAL STRENGTH
4. KLGOLD.COM
TSX:KL
NYSE:KL
• Production of 139.1 koz 80% higher than Q3 2016,
• Doubled U/G reserves at Fosterville – 1,030,000 oz @ 17.9 g/t
• Achieved record monthly production at Fosterville in October - >30,000 oz
• Improving full-year 2017 production and cost guidance
4
77,274
106,609
$130,425
$160,305
$139,091
50,000
70,000
90,000
110,000
130,000
150,000
170,000
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017
Production (oz)
160,305
• KL: SOLID PERFORMANCE, IMPROVING GUIDANCE
5. KLGOLD.COM
TSX:KL
NYSE:KL
5
Excavator
Gold Nugget
Locations
▪ $61.0M invested in Novo Resources Corp.
o 25.8M common shares
o 14.0M warrants
▪ KL team confirmed gold mineralization
over 85km strike
▪ $99.5M in pre-tax gains in Q3 2017
• KL: DEPLOYING CAPITAL FOR VALUE CREATION - NOVO
6. KLGOLD.COM
TSX:KL
NYSE:KL
6
Repurchased 4.8M common shares for $51.9 (C$65.8) million
Commenced quarterly dividend: Doubling to $0.02/share
Share repurchases to continue – Company undervalued
7.5% Debenture matures Dec. 31/17, $13.70 conversion price
• KL: DEPLOYING CAPITAL FOR VALUE CREATION
7. KLGOLD.COM
TSX:KL
NYSE:KL
7
• Operating cash costs improve 11% from Q3 2016, AISC 13% better
• Strengthening Canadian and Australian dollars impact unit costs
• Unit costs for Canadian ops improve in C$
Q3 2017 Cost per Tonne
Improved 14% to C$184/tonne for Canadian operations
Averaged A$167/tonne at Fosterville vs $154/tonne
564
533 564
482 482
970
845 873
729
845
200
300
400
500
600
700
800
900
1,000
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017
Unit Costs ($/oz Sold)1
540
• KL: STRONG UNIT COST PERFORMANCE
1) See Non-GAAP Measures sections in forward looking statements
8. KLGOLD.COM
TSX:KL
NYSE:KL
8
• Net earnings more than double from Q3 2016
• Non-cash gain on Novo warrants of $19.2M pre-tax
• Higher exploration spending in Q3 2017 ($16.9M)
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
Q3 2016 Q3 2017
Net Earnings ($ Millions)
132%
$20.0
$22.0
$24.0
$26.0
$28.0
$30.0
$32.0
$34.0
$36.0
$38.0
$40.0
Q2 2017 Q3 2017
Net Earnings ($ Millions)
27%
$43.8
($0.21/share)
$18.9
($0.16/share)
$43.8
($0.21/share)
34.6
($0.17/share)
• KL: SOLID PROFITABILITY IN Q3 2017
9. KLGOLD.COM
TSX:KL
NYSE:KL
$26.2
$31.5
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
Q3 2016 Q3 2017
Free Cash Flow ($ Millions)1
9
• Free cash flow reached $113.5M YTD in 2017
• Op cash flow $66.8M in Q3 2017 vs $46.4M in Q3 2016
• Op cash flow $206.5M YTD 2017 vs $118.5M YTD 2016
1) See Non-GAAP Measures sections in forward looking statements
$68.6
$113.5
$40.0
$50.0
$60.0
$70.0
$80.0
$90.0
$100.0
$110.0
$120.0
YTD 2016 YTD 2017
Free Cash Flow ($ Millions)1
132%
44%
• KL: $113.5M OF FREE CASH FLOW YTD IN 2017
10. KLGOLD.COM
TSX:KL
NYSE:KL
10
At September 30, 2017 CANADIAN OPERATIONS AUSTRALIAN OPERATIONS
$ million unless otherwise states Macassa Holt Taylor Fosterville Cosmo Consolidated 2017 Guidance
Gold Production (ozs) - Actual 142,628 47,414 34,223 184,688 $20,595 429,8223
580,000 –
595,000Guidance
190,000 –
195,000
65,000 –
70,000
50,000 –
55,000
250,000 –
260,000
20,000
Op. cash costs ($/oz)1,2 – Actual $516 $708 $625 $281 $1,661 $508
$475 – $500
Guidance
520 –
550
670 –
725
600 –
625
260 –
280
1,500 –
1,600
AISC ($/oz)1,2 $811 $800 – $825
Operating cash costs1 $217.0 $270 – $280
Capital expenditures $93.0 $160 – $180
Exploration $37.7 $45 – $55
Royalty cost $15.2 $20 – $25
G & A $15.6 $20
1) See “Non-IFRS Measures” set out starting on page 27 of Company’s MD&A for the three and nine months ended September 30,2 2017. The most comparable IFRS Measure for operating cash costs,
operating cash costs per ounce sold and AISC per ounce sold is production costs as presented in the Condensed Consolidated Interim Statements of Operations and Comprehensive Income
2) Operating cash costs, operating cash costs/ounce and AISC/ounce sold reflect an average US$ to C$ exchange rate of 1.306 and a US$ to A$ exchange rate of 1.305
3) Consolidated YTD 2017 production includes 274 ounces processed from the Holloway Mine.
• KL: UPDATED AND IMPROVED 2017 PRODUCTION AND COST GUIDANCE
12. KLGOLD.COM
TSX:KL
NYSE:KL
12
• Net earnings more than double from Q3 2016
• Non-cash, pre-tax gain on Novo warrants of $19.2M pre-tax in other income
• $80.3 million pre-tax gain on 25.8 million Novo common shares ($69.7 million
net of tax in comprehensive income)
• Higher exploration spending in Q3 2017 ($16.9M)
• Increased effective tax rate
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
Q3 2016 Q3 2016
Net Earnings ($ Millions)
132%
$20.0
$22.0
$24.0
$26.0
$28.0
$30.0
$32.0
$34.0
$36.0
$38.0
$40.0
Q2 2017 Q3 2017
Net Earnings ($ Millions)
27%
$43.8
($0.21/share)
$18.9
($0.16/share)
$43.8
($0.21/share)
34.6
($0.17/share)
Total value of strategic investments at Sept. 30/17: $151 million
• KL: SOLID PROFITABILITY IN Q3 2017
13. KLGOLD.COM
TSX:KL
NYSE:KL
• Strong revenue growth from Q3 2016 key driver of EBITDA growth year over year
• Increased y-o-y revenue mainly due to 81% increase in sales – 137,907 oz in Q3 2017
• Higher op. costs vs Q3 2016 reflects Australian operations
• Reduction in revenue from Q2 2017 reflects reduced sales reflecting lower production at
Fosterville, Cosmo on care and maintenance
13
Q3 2017 Revenue: $176.7 Million
$98.1
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
$90.0
$100.0
EBITDA
($ Millions)
Q3 2017 EBITDA1
1) See Non-GAAP Measures sections in forward looking statements
1
1
100.8
134.2
168.5
189.9
176.7
Q3 - 16 Q4 - 16 Q1 - 17 Q2 - 17 Q3 - 17
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
200.0
75% growth from
Q3 2016
▪ 116% increase from Q3 2016
▪ 7% increase from Q2 2107
• KL: STRONG REVENUE AND EBITDA
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482 482
970
729
845
200
300
400
500
600
700
800
900
1,000
1,100
Q3 2016 Q2 2017 Q3 2017
Unit Costs ($/oz Sold)1
Op. Cash Costs AISC
LOW UNIT OPERATING COSTS KEY TO PROFITABILITY AND CASH FLOW
15
540
Operating cash costs improve 11% from Q3 2016, unchanged from Q2 2017
AISC per ounce improved 13% from Q3 2016, increased from Q2 2017 due to
higher sustaining capital expenditures
Q3 2017 Unit Costs by Mine
Operating
Cost/ Oz
AISC/ Oz
Fosterville $295 574
Macassa $522 842
Taylor $676 1,054
Holt $679 1,116
Cosmo $2,227 2,305
Consolidated $482 $845
1) See Non-GAAP Measures sections in forward looking statements
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16
• Capital expenditures being weighted to second half of 2017
• Timing of mobile equipment procurement and critical spares
• More capital development planned in second half of 2017
• Guidance maintained at $160 – $180 million
YTD 2017 Capital Expenditures By Mine ($M)
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
Capital Expenditures
YTD 2017 ($M)
105.9
Fosterville
41.1
Macassa
39.4
Taylor 8.9
Holt 9.9
Cosmo 6.6
• KL: YTD 2017 CAPITAL EXPENDITURES
17. KLGOLD.COM
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Cash and cash equivalent
$234.9
+$113.5
($61.0)
($43.9)
($39.5)
+$6.5 $210.5
171) See Non-GAAP Measures sections in forward looking statements
$ Millions
Change in cash reflects:
▪ Strong free cash flow1
▪ Use of cash to support growth, repurchase shares, repay debt
• KL: YTD CHANGE IN CASH
18. November 2, 2017
OPERATIONS REVIEW
KLGOLD.COM
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18
HIGH-GRADE GOLD PRODUCTION | GROWTH | FINANCIAL STRENGTH
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37,245 36,967
44,406
46,083
77,069
61,500
7.5 6.9
8.5
11.1
17.2
14.1
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017
20,000
30,000
40,000
50,000
60,000
70,000
80,000
GoldProduction(ozs)
GoldGrade(g/t)
$765
$641
$571
$388
$574
$471
$420
$354
$220
$295
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017
Production Costs US$/oz
AISC OCC
1) See the Company’s MD&A for the three and nine months ended September 30, 2017 dated November 2, 2017 for more information on Fosterville’s operating performance. (See Slide 2 for information regarding Non-GAAP measures).
High-Grade Production Low-Cost, High-Margin Ounces
9M 2017:
184,700 ozs
428.6 kt @ 14.2 g/t
Long-Life Reserve/Large Resource Base
(As of Dec 31, 2016)1
P&P reserves 1.03M oz @ 17.9 g/t gold (1.79 Mt)
M&I resources 1.94M oz @ 4.4 g/t Au (13.7 Mt)
Inferred resources 1.04M oz @ 5.8 g/t (5.56 Mt)
2017 Guidance
Production: 250 – 260 koz; Cash costs: $260 – $280/oz
YTD 2017: CC: $281/oz; AISC: $501/oz
Cost/tonne: C$181/tonne Q3 2017 vs
C$165/tonne Q2 2017
• FOSTERVILLE: SOLID Q3, FOLLOWED BY RECORD OCTOBER
20. KLGOLD.COM
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P4160 SFWP4120 SHA
P4120 SHW
P4220_6701
P4240_6845
Q3 2017 High Grade Stopes and Developments
>30g/t Au
Remaining Q3 2017 Stopes and
Development
P4220_6701 Stope - Mill Reconciled Grade <30g/t
>30 g/t stopes/development = 6% of
tonnes, 18% of ounces for Q3
FOSTERVILLE: SOLID Q3, RECORD OCTOBER
21. KLGOLD.COM
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• Focus on accelerating conversion in three production horizons – Lower Phoenix (Swan), Lower
Phoenix North and Harrier South
• Significant step-out drilling along-plunge at Swan Zone
• 2017 program consists of underground development, drilling and geophysics/ geochemistry
Harrier
South
Swan Zone
Lower Phoenix
Lower Phoenix
North
Planned drilling targeting Swan, Harrier and LP North
• FOSTERVILLE: IN-MINE EXPLORATION
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• Drilling identifies gold-bearing quartz veins at multiple locations up to 1.8 km east of Shaft Deposit
• (5.14 g/t over 10.7m, 7.07 g/t over 3.1m, 16.46 g/t in 1.3m and 14.33 g/t over 4.2m)
• New mineralization intersected in prospective area between Shaft Deposit and West Porphyry Deposit
• (19.45 g/t over 1.1m, 12.61 g/t over 0.4m and 16.90 g/t over 0.7m)
• TAYLOR: EXTENDING MINERALIZATION EAST AND TO DEPTH
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Operational Excellence
▪ Improving 2017 guidance (production, costs)
▪ Expect strong Q4 2017
Financial Discipline
▪ $113.5 of FCF YTD 2017
▪ $210.5M of cash at Sept. 30/17
Returning Value to Shareholders
▪ Repurchasing common shares
▪ Paying dividends
▪ Pay down debt
Effective Capital Allocation
▪ Supporting growth of operations
▪ Strategic investments with value potential
• KL: FOCUSED ON GENERATING RETURNS FOR SHAREHOLDERS
27. KLGOLD.COM
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APPENDIX: NON-IFRS AND ADDITIONAL INFORMATION
Non GAAP Measure
Operating cash cost per ounce sold, all-in sustaining costs per ounce sold, average realized gold price per ounce and working capital are Non-GAAP measures. In the gold mining industry, these are common performance
measures but do not have any standardized meaning, and are considered Non-GAAP measures. The Company believes that, in addition to conventional measures prepared in accordance with International Financial Reporting
Standards ("IFRS" or "GAAP"), certain investors use such Non-GAAP measures to evaluate the Company's performance and ability to generate cash flow. Accordingly, they are intended to provide additional information and
should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. A reconciliation of operating cost per ounce and AISC per ounce to total operating costs for the most
recent reporting period, the three and nine months ended September 30, 2017 and 2016 is set out on the Company's MD&A for the period ended September 30, 2017 filed on SEDAR at www.sedar.com and at www.klgold.com.
Operating Cash Cost per Ounce Sold
Operating cash costs include mine site operating costs such as mining, processing and administration, but exclude royalty expenses, depreciation and depletion, share based payment expenses and reclamation costs. Operating
cost per ounce is based on ounces sold and is calculated by dividing operating cash costs by gold ounces sold.
All-In Sustaining Costs per Ounce Sold
While there is no standardized meaning across the industry for this measure, the Company's definition conforms to the definition of all-in sustaining costs as set out by the World Gold Council in its guidance note dated June 27,
2013. The Company defines AISC as the sum of operating cash costs, royalty expenses, sustaining capital, corporate expenses, sustaining exploration expenses, and reclamation cost accretion related to current operations.
Corporate expenses include general and administrative expenses, net of transaction related costs, severance expenses for management changes and interest income and certain other income. AISC excludes growth capital,
reclamation cost accretion not related to current operations, interest expense, debt repayment and taxes. The costs included in the calculation of all-in sustaining costs are divided by gold ounces sold.
Average Realized Price per Ounce Sold
Average realized price per ounce sold is a Non-GAAP measure. In the gold mining industry, average realized price per ounce sold is a common performance measures but does not have any standardized meaning.
The most directly comparable measure prepared in accordance with GAAP is revenue from gold sales. Average realized price per ounce sold should not be considered in isolation or as a substitute for measures prepared in
accordance with GAAP. The measure is intended to assist readers in evaluating the total revenues realized in a period from current operations.
Free Cash Flow and Free Cash Flow per share
In the gold mining industry, free cash flow and free cash per share are common performance measures with no standardized meaning. Free cash flow is calculated by deducting capital cash spending (capital expenditures for
the period, net of expenditures paid through finance leases) from cash flows from operations; free cash flow per share is calculated by dividing free cash flow for the period by the weighted average number of outstanding
shares for that period.
The Company discloses free cash flow and free cash flow per share as it believes the measures provide valuable assistance to investors and analysts in evaluating the Company’s ability to generate cash flow. The most directly
comparable measure prepared in accordance with GAAP is cash flows generated from operations.
Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) per Share
Adjusted net earnings (loss) and adjusted net earnings (loss) per share are used by management and investors to measure the underlying operating performance of the Company. Presenting these measures from period to
period helps management and investors evaluate earnings trends more readily in comparison with results from prior periods.
Adjusted net earnings (loss) is defined as net earnings (loss) adjusted to exclude specific items that are significant, but not reflective of the underlying operations of the Company, including transaction costs, executive
severance payments, and severance costs associated with transitioning the Stawell Gold Mine and Holloway Mine to care and maintenance. Adjusted basic net earnings (loss) per share is calculated using the weighted
average number of shares outstanding under the basic method of loss per share as determined under IFRS.
Working Capital
In the gold mining industry, working capital is a common performance measures but does not have any standardized meaning. The most directly comparable measure prepared in accordance with GAAP is current assets and
current liabilities. Working capital is calculated by deducting current liabilities from current assets. Working capital should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. The
measure is intended to assist readers in evaluating Company’s liquidity.
EBITDA
As a performance measure, EBITDA is an indicator of the Company’s ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA
is calculated as Earnings Before Tax plus interest expense plus depreciation and amortization expense. EBITDA gauges a Company’s operating profitability, meaning earnings it generates in the normal course of doing business,
without capital expenditures and financing costs.
28. KLGOLD.COM
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NI 43-101 DISCLOSURE
Kirkland Lake Gold Qualified Person and QA/QC
All production information and other scientific and technical information in this presentation with respect to Kirkland Lake Gold and its assets were prepared in accordance with the standards
of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and were prepared, reviewed,
verified and compiled by Kirkland Lake Gold’s mining staff under the supervision of, Pierre Rocque P. Eng., Kirkland Lake Gold’s Vice President, Canadian Operations or Ian Holland, Vice
President, Australian Operations.
The exploration programs across Kirkland Lake Gold’s land holdings in Kirkland Lake were prepared, reviewed, verified and compiled by Kirkland Lake Gold’s geological staff under the
supervision of Doug Cater, P.Geo., the Company’s Vice President of Exploration, Canadian Operations or John Landmark, Vice President, Exploration, Australian. All reserve and resource
estimates for the Kirkland Lake Properties as at December 31, 2014 have been audited and verified, and the technical disclosure has been approved, by Kirkland Lake Gold’s independent
reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. Mr. Clark is a ‘qualified person’ under NI 43-101. The QP’s for the mineral reserves and resources
outlined under the PDFZ Properties are Doug Cater, P. Geo, and, Pierre Rocque P. Eng., the Vice President of Technical Services respectively.
Sample preparation, analytical techniques, laboratories used and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry
standards and independent certified assay labs.
REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED MARCH 30, 2017, AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND DISCLOSURE PERTAINING TO THE
RESOURCE AND RESERVE STATEMENTS QUOTED HEREIN. All updated NI 43-101 TECHNICAL REPORTS IN SUPPORT OF THE COMPANY’S NEWS RELEASES ISSUED ON MARCH 30, 2017, ENTITLED “KIRKLAND LAKE
GOLD INCREASES MINERAL RESERVES AT FLAGSHIP MACASSA MINE BY 37% AND FOSTERVILLE MINE BY 66%” WAS FILED ON MARCH 30, 2017 ON SEDAR AT WWW.SEDAR.COM
Qualified Persons
Pierre Rocque, P.Eng., Vice President, Canadian Operations is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral
Reserves technical information and data for all Kirkland Lake Gold assets in this News Release.
Simon Hitchman, FAusIMM (CP), MAIG, Principal Geologist, Troy Fuller, MAIG, Geology Manger and Ion Hann, FAusIM, Mining Manager, are “qualified person” as such term is defined in
National Instrument 43-101 and has reviewed and approved the technical information and data from the Australian Assets included in this News Release.
Doug Cater, P. Geo Vice President, Exploration, Canada is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral Resources
technical information and data for the Canadian Assets included in this News Release.
28
Cautionary Note to U.S. Investors - Mineral Reserve and Resource Estimates
All resource and reserve estimates included in this news release or documents referenced in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure
for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as
amended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information
concerning mineral projects. The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Standards.
These definitions differ materially from the definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under the United States Securities Act of 1933, as amended, and the Exchange Act.
In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101 and the CIM
Standards; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the U.S. Securities and Exchange
Commission (the "SEC"). Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of
uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.
Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. Investors are cautioned not to assume that all or
any part of a mineral resource exists, will ever be converted into a mineral reserve or is or will ever be economically or legally mineable or recovered.