Canada’s Kirkland Lake Gold (TSX. NYSE: KL) announced today that management increased its consolidated three-year production guidance and improved its unit-cost guidance for 2019.
In a press release, the miner explained that there is potential for a million ounces in 2019 as guidance was increased to 920,000 – 1,000,000 ounces from the previously announced 740,000 – 800,000 ounces.
For next year, Kirkland Lake said guidance would be 930,000 – 1,010,000 ounces and for 2021 995,000 – 1,055,000 ounces.
In detail, the Toronto-based firm rose the three-year guidance for its Fosterville mine in Victoria, Australia to 550,000 – 610,000 ounces for 2019 and 2020, from the previous 390,000 – 430,000 ounces, but kept the 2021 production guidance at 570,000 – 610,000 ounces.
The company also expects output from its Holloway mine in Ontario, Canada, to grow because operations are to be resumed soon. Thus, guidance for this mine was set at 20,000 ounces in 2019 increasing to 50,000 ounces by 2021.
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