Agoracom: Small Cap Investment - Kirkland Lake Gold - Kirkland Lake Gold Says Can Cut Detour Lake Mine Costs as Merger Deal Disappoints

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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Kirkland Lake Gold Says Can Cut Detour Lake Mine Costs as Merger Deal Disappoints

posted on Nov 27, 2019 06:53AM

2019-11-27 06:05:45 AM ET (MT Newswires)

06:05 AM EST, 11/27/2019 (MT Newswires) -- Kirkland Lake Gold (KL) CEO Tony Makuch said his company can costs at the Detour Lake mine by a third, according to a Bloomberg report, as he tried to ease investor worries over the recently announced purchase of Canada's Detour Gold (DGC.TO).

Bloomberg said analysts believe that acquiring Detour Gold will add to Kirkland's risk profile, given that Detour Gold is a higher cost producer

In an interview with Eric Sprott by the Financial Post, the Canadian billionaire businessman focused on the resource ssector believes the market just doesn't see the value of Detour Gold.