Gold producer Kirkland Lake Gold (TSX KL / ASX KLA / WKN A2DHRG) has published the goals for the coming year and beyond. This includes that the group expects an output of 1.3 to 1.4 million ounces of gold in 2021 – mainly due to the strong growth of the Detour Lake mine. The so-called all-in sustaining costs (AISC) per ounce sold should remain at the level of the current year.
However, the outlook for 2021 also includes an increase in capital expenditure, which is intended to support the future production growth of Detour Lake in particular. At the same time, after drilling successes, more attention will be paid to exploration on all three of the company’s most important assets. Kirkland Lake’s 2020 production forecast is 1.350 to 1.4 million ounces, of which 29,391 are from the Holt complex.
The company expects AISC to be $ 790 to $ 810 an ounce for the coming year – unchanged from the current year, ongoing CAPEX is expected to be between $ 280 and 310 million and exploration spending is expected to rise to $ 170 to 190 million.
Kirkland Lake also issued a three-year production forecast that includes an increase to 1.405 to 1.545 million ounces by 2023. For 2020, the company is forecasting an output of 1.35 to 1.4 ounces of gold. The company relies primarily on the Macassa and Detour Lake mines in northern Ontario and the extremely high-grade Fosterville mine in Australia.
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