January 9, 2017 / 5:58 PM / a year ago

BUZZ-Kirkland Lake Gold Ltd: Beats 2016 production forecast

** Canadian gold miner’s shares rise as much as 3.75 pct to C$7.75

** Company’s 2016 consolidated pro-forma gold production exceeds its own forecast

** Canadian operations attributable gold production of 295,838 ounces basis vs forecast of 270,000-290,000 ounces

** Australian operations gold production of 239,724 ounces tops 2016 guidance of 225,000-235,000 ounces

** Q4 production beats M Partners’ estimates by 9 pct, helped by higher-than-expected grades and metallurgical recoveries at the Fosterville and Macassa mines - M Partners analysts write in a note

** Last November, Kirkland Lake Gold closed it $1 bln acquisition of Australian miner Newmarket Gold

** Up to Friday’s close, stock had more than doubled over the past 12 months

$1 = 1.3213 Canadian dollars

0 : 0
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