Kirkland Lake Gold's sales hit by ice storm

Canadian mining group Kirkland Lake Gold said an ice storm delayed the delivery of gold in the third quarter of fiscal year 2013.

Canadian mining group Kirkland Lake Gold said an ice storm delayed the delivery of gold in the third quarter of fiscal year 2013.

The company sold 17,389 ounces of gold out of an output of 22,261 ounces.

Road closures due to bad weather halted the delivery of the last 4,271 ounces to a gold refinery where it was to be sold until February 1st, the group explained.

The gold will remain in inventory and in will be sold in the fourth quarter.

Overall production results are slightly ahead of plans to meet the company's guidance of 90,000 to 110,000 ounces for fiscal year 2013.

Head grade in January improved considerably to 0.39 ounces per tonne.

The company plans to increase production in the next quarter after introducing a new operational service cage.

Shares grew 2.38% to 430.00p at 10:46 Monday.

RD

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