Kirkland Lake Gold Inc.

KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.

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Message: Kirkland Lake Gold Withdraws 2020 Guidance as Suspends Operations in Ontario, Provides Australia Update

Kirkland Lake Gold Withdraws 2020 Guidance as Suspends Operations in Ontario, Provides Australia Update

posted on Apr 02, 2020 07:48AM
 
2020-04-02 07:45:21 AM ET (MT Newswires)
   
   

07:45 AM EDT, 04/02/2020 (MT Newswires) -- Kirkland Lake Gold Ltd. (KL.TO) has temporarily suspended operations at the Holt Complex in Northern Ontario, and is moving to reduced operations at the Macassa Mine in Kirkland Lake, Ontario. The new measures, which are in effect until April 30, follow the transition of the Detour Lake Mine to reduced operations effective March 23. Workers impacted by the reductions announced today will receive their base wages for the month of April, Kirkland said.

Essential activities at both operations are being completed entirely by a local, Ontario-based workforce.

The company is withdrawing its 2020 guidance until further notice, and will be updated once normal operations have resumed at both Macassa and Detour Lake.

Kirkland's Fosterville Mine in Victoria, Australia remains in operation. In the Northern Territory, Kirkland has permanently suspended test mining at the Cosmo Mine and test processing at the Union Reefs Mill.

Ian Holland has resigned from the role of Vice President, Australian Operations. He will continue to serve on a consulting basis. Duncan King, currently Vice President, Mining (Kirkland Lake), is assuming the role of Vice President, Australian Operations on an interim basis.

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