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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to