Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KL; NYSE: KL), Tony Makuch, as its keynote speaker.
Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM; NYSE: AEM), with Makuch soon to be CEO of the new Agnico Eagle.
As part of session moderated by Henry Lazenby, multimedia content producer with CMJ’s sister publication, The Northern Miner, Makuch fielded questions from the audience, including those about why Agnico Eagle did not offer a sizeable premium on the Kirkland Lake share price.
“Kirkland Lake Gold has a track record of growing itself as a company,” he said. “In making a premium deal, you have to see new value that can be created. If we insisted on a premium, it’s the same as me saying to shareholders we haven’t created the value we could have for you.”