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Kirkland Lake

Agnico Eagle raising the gold production bar in the Abitibi – by Ian Ross (Northern Ontario Business – February 21, 2023)

https://www.northernontariobusiness.com/

Mine expansion at Detour Lake and Kirkland Lake figure prominently in gold production plans

There are more ounces to be pulled from the Abitibi gold belt, says Agnico Eagle. The Toronto gold company maintains it can produce more than two million ounces out of this region of northeastern Ontario and western Quebec by 2025, an area where Agnico got its start in the late 1950s. Agnico has five mines within this 32,000-square-kilometre area.

In a Feb. 17 conference call with analysts, Agnico management said it believes 2023 is an exciting year to advance a pipeline of projects and start to expand production at its existing operations while keeping production and total costs down to a low of $800 an ounce.

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Northern Ontario’s mining memorials tell a tale of hard-fought labour protections – by Bill Steer (Bay Today – January 19, 2022)

 

https://www.baytoday.ca/

Back Roads Bill Steer is the founder and remains the GM of the Canadian Ecology Centre. He teaches part-time at Nipissing University (Schulich School of Education) and Canadore College. His features can be found across Village Media’s Northern Ontario sites.

With the help of the region’s scholars, Back Roads Bill recounts the struggles and horrific working conditions endured by early miners and the reason we should all remember them

It is part of a history lesson we know little about, so perhaps we need a little schooling. Envision hard rock miners, once toiling far underground in dark, cramped and dangerous conditions; it was arduous and risky work.

They emerged tired and dirty at the end of their shifts, walking back to small wood-sided homes and their immigrant families. Mining, along with forestry, created what was then called ‘New Ontario,’ — what we know as Northern Ontario.

Indigenous mining in the north began after the last period of glaciations, people of the Plano culture moved into the area and began quarrying quartzite at Sheguiandah on Manitoulin Island. Mining is an important economic activity in Northern Ontario. It has been since the first copper mines at Bruce Mines in 1846 and Silver Islet in 1868.

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Agnico Eagle and Kirkland Lake Gold seal the deal – by Staff (Northern Ontario Business – February 9, 2022)

https://www.northernontariobusiness.com/

Mining companies consummate $13.4B transaction announced last September

The “merger of equals” between Agnico Eagle and Kirkland Lake Gold is done. The two mining companies made that official in a Feb. 8 news release. The new and combined company will be called Agnico Eagle Mines Limited.

The two companies, which announced the $13.4-billion transaction back on Sept. 28, cleared the final regulatory hurdle for the combination to take place when Australia’s Foreign Investment Review Board approved the deal. Shareholders for both companies approved the transaction in November.

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Detour Lake mine now fully connected to 5G wireless (Northern Ontario Business – January 31, 2022)

https://www.northernontariobusiness.com/

New cell towers will boost coverage for users along corridor between the mine site and Cochrane

A Cochrane-area mine is the first in Canada to be fully connected to 5G, according to an announcement this week.

Kirkland Lake Gold and Rogers Business announced the launch of the 5G wireless private network on Jan. 26. The public cell coverage will also be boosted with eight new wireless cell towers that are being built to cover a stretch of more than 180 kilometres on Highway 652 between the mine site and Cochrane.

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CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on Agnico merger, electrification – by Staff (Canadian Mining Journal – October 13, 2021)

https://canadianminingjournal.com/

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.

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Agnico Eagle and Kirkland Lake Gold merger likely the last major deal in Canada – by Trish Saywell (Northern Miner – October 4, 2021)

Global mining news

The mega-merger of Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) unveiled to the market on September 28 “makes a lot of strategic sense” but is likely to be the last blockbuster M&A deal by a major in the Canadian mining sector, according to Haywood Securities mining analyst Kerry Smith.

“Most of the big deals are done,” Smith says in an interview. “There are going to be acquisitions of assets by some of the mid-tiers—that’s what’s going to come next. I think we’ll see mid-tier mining companies buying single-asset development stage companies; companies like Rupert Resources, Moneta, and Belo Sun Mining and others — companies that are in super-easy jurisdictions to work in.”

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Agnico Eagle deal to buy Kirkland Lake Gold criticized – by Niall McGee and Andrew Willis (Globe and Mail – September 29, 2021)

https://www.theglobeandmail.com/

Agnico Eagle Mines Ltd. plans to acquire Kirkland Lake Gold Ltd. in an all-stock transaction that the companies say will create a “true Canadian mining champion,” but the deal garnered a lukewarm reception on Bay Street, with some investors questioning the strategic rationale.

Toronto-based Agnico said on Tuesday it intends to pay 0.7935 of its shares for each Kirkland share, or about 1 per cent higher than Kirkland’s average close over the 10-day period as of last Friday, essentially making it a nil-premium deal valued at more than $13-billion.

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Ottawa wants public feedback on Larder Lake gold mine project: Agnico Eagle sees gold and copper potential at former mine sites – by Staff (Northern Ontario Business – September 14, 2021)

https://www.northernontariobusiness.com/

Agnico Eagle wants to build a gold and copper mine north of Larder Lake, near the Quebec border, and the Impact Assessment Agency of Canada is inviting public feedback.

The agency said it has accepted the initial project description for the Upper Beaver Gold Project and wants the public and Indigenous groups to review the project description and provide comment. The agency will compile a summary of issues to present to the mining company.

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NEWS RELEASE: Kirkland Lake Gold Announces 10.1 Million Ounce Increase in Measured and Indicated Mineral Resources at Detour Lake Mine (September 2, 2021)

Measured and Indicated(1)(2) (“M&I”) Mineral Resources increase 10,061,000 ounces or 216% from December 31, 2020 estimates to 14,718,000 ounces at June 30, 2021 (572.0 million tonnes (“MT”) at average grade of 0.80 grams per tonne (“g/t”))

TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the release of new Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) as at June 30, 2021 (“Mid-Year 2021”).

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Northeast gold junior miner signs exploration agreement with First Nations – by Staff (Northern Ontario Business – July 20, 2021)

https://www.northernontariobusiness.com/

Gatling Exploration strikes partnership with Matachewan, Wahgoshig First Nations

A gold exploration company in the Kirkland Lake area has inked an exploration agreement with Matachewan and Wahgoshig First Nations.

Vancouver-based Gatling Exploration is working a gold property known as the Larder Project, 35 kilometres east of Kirkland Lake. The agreement sets out a framework for communication and a working relationship between the company and the First Nations.

One objective of this deal is to identify opportunities for Indigenous-owned businesses and members to participate in the company’s exploration activities, which may include training.

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Kirkland Lake Gold boasts record second quarter of production – by Staff (Northern Ontario Business – July 12, 2021)

https://www.northernontariobusiness.com/

Massive exploration drilling at Detour Lake should lengthen mine’s longevity

Kirkland Lake Gold is sitting pretty to reach its 2020 gold production targets, thanks to a record second quarter.

In a July 12 news release, the Toronto gold miner said, collectively, its three operations at Macassa in Kirkland Lake; Detour Lake, north of Cochrane, and Fosterville in Australia, produced a total of 379,195 ounces, up 15 per cent from the same quarter last year and up 25 per cent from the first quarter this year.

Gold sales reached an average realized price of $1,814 per ounce. Up to the midway point of 2021, production totalled 682,042 ounces, a 3 per cent increase from the first half of 2020, reflecting higher production at Detour Lake and Macassa.

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JV Article: Kirkland Lake Gold partnership could lead to world-class discoveries, says Stephen Stewart of Orefinders and Mistango – by Staff (Northern Miner – May 30, 2021)

Global mining news

A new strategic partnership and equity investment by Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) into Orefinders Resources (ORX: TSXV) and Mistango River Resources (CSE: MIS) will allow the two Canadian juniors to “unlock the full potential of their assets,” says Stephen Stewart, CEO of Orefinders and chairman of Mistango.

Under the proposed partnership agreement, Kirkland Lake Gold has acquired a 9.9% stake in each of the juniors. Additionally, Kirkland Lake will also have the option to acquire up to a 75% interest in specific projects under the companies’ portfolio of assets in exchange for a total combined $120 million investment.

This is the second high-profile investment that Orefinders and Mistango have received in the last year as billionaire investor, and former chairman of Kirkland Lake Gold, Eric Sprott has made four separate investments into the two companies over that period.

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Kirkland Lake Gold prepared to sink multi-millions in northeast exploration (Northern Ontario Business – April 22, 2021)

https://www.northernontariobusiness.com/

Gold miner takes ownership stake, sign option agreements with Orefinders Resources, Mistango River Resources

Kirkland Lake Gold has taken an ownership position in two gold exploration sister companies in the Kirkland Lake camp and is prepared to spend up to $120 million on exploration.

In what’s being framed as a strategic partnership and a potential joint venture opportunity, Kirkland Lake Gold is acquiring a 9.9 per cent interest in Orefinders Resources and Mistango River Resources. Both junior companies are under the direction of Stephen Stewart.

Orefinders is sending 24.4 million common shares Kirkland Lake Gold’s way in return for more than $2.4 million.

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[Kirkland Lake] Save the Museum of Northern History at the Sir Harry Oakes Chateau! (Change.org)

It has come to our attention that Kirkland Lake’s Town Council will, during their meeting on the afternoon of 20 April 2021, be voting on a proposal to divest the Town of the whole of the property containing the historic heritage building known as the Sir Harry Oakes Chateau and placing the future of the Museum of Northern History in jeopardy.

WHEREAS, the Museum of Northern History at the Sir Harry Oakes Chateau has been a part of the Kirkland Lake community for decades; AND,

WHEREAS, the Museum of Northern History at the Sir Harry Oakes Chateau is the cultural centre of the Town of Kirkland Lake, now acting as the single permanent hub of cultural identity and activity for the community and surrounding area; AND,

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From luck to riches in Kirkland Lake – by Tijana Mitrovic (CIM Magazine – April 06, 2021)

https://magazine.cim.org/en/

An accidental discovery of gold that helped establish one of Canada’s most valuable mining camps and important newspapers

When William Henry “Bill” Wright came across a visible gold vein in Kirkland Lake in 1911, he could not have known that the deposit he had just found would become one of Canada’s most prosperous mining camps, home to seven gold mines.

Wright was born in the English town of Sleaford in 1876. He worked as a butcher’s apprentice before joining the British army in 1897, serving both at home and abroad during the Second Boer War.

He came to Canada 10 years later, and worked odd jobs in northern Ontario before going to the Cobalt and Porcupine mining camps. Along with his brother-in-law Ed Hargreaves, Wright headed to the Kirkland Lake region, where prospectors had previously searched for gold. They spent much of their time hunting for food as well as searching for promising ground to stake.

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