{"id":22328,"date":"2020-10-12T22:31:47","date_gmt":"2020-10-13T02:31:47","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=22328"},"modified":"2020-10-12T23:04:28","modified_gmt":"2020-10-13T03:04:28","slug":"kirkland-lake-q3-2020-production","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/kirkland-lake-q3-2020-production\/","title":{"rendered":"Kirkland Lake Gold (KL) – Solid Q3 Production + 50% Dividend Bump"},"content":{"rendered":"

Kirkland Lake Focused on Capital Return to Shareholders<\/h1>\n

Kirkland Lake (TSX:KL) announced strong Q3 production results today at 339K ounces, an increase of 39% year-on-year.<\/p>\n

Kirkland Lake remains focused on shareholder return, increasing the quarterly dividend by 50% to US$0.1875\/share.\u00a0 This increase follows a doubling of the dividend in Q1 2020, see KL’s quarterly dividend history in the chart below. The current bump in the dividend takes the dividend yield from 0.9% to 1.3%.<\/p>\n

The company stated in Q3 a total of $142 million was returned to shareholders through share buybacks and dividends.<\/p>\n

\"\"<\/p>\n

The Company\u2019s cash position increased 58% during Q3 2020 to $848 million, driven by the robust gold price environment. Additionally the company received $109 million from the sale of Osisko Mining shares, and $75 million from Newmont through a strategic alliance agreement.<\/p>\n

Detour Lake<\/h2>\n

Production from Detour Lake Mine totaling 140k ounces, a 6% increase quarter-over-quarter.\u00a0 Strong production growth from the asset is critical as it validates Kirkland Lake’s 2019 acquisition.<\/p>\n

The company stated they are achieving encouraging exploration results early in their drill programs at Detour Lake, this would increase mineral reserves, production and ultimately lower costs.<\/p>\n

Outlook – On Track to Meet 2020 Production Target<\/h1>\n

In the release, CEO Tony Makuch stated the following:<\/p>\n

“We continued to generate solid results in Q3 2020 and have entered the final quarter of year well positioned to achieve our full-year 2020 production guidance of 1,350,000 \u2013 1,400,000 ounces”<\/span><\/p><\/blockquote>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Kirkland Lake Gold annouced solid Q3 production results along with a 50% increase to the quarterly dividend.<\/p>\n","protected":false},"author":25,"featured_media":15503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[271,272,810],"class_list":{"0":"post-22328","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-metals","8":"tag-kirkland-lake-gold","9":"tag-kl","10":"tag-kl-to"},"acf":[],"yoast_head":"\nKirkland Lake Gold (KL) - Solid Q3 Production + 50% Dividend Bump | Capital 10X<\/title>\n<meta name=\"description\" content=\"Kirkland Lake Gold annouced solid Q3 production results along with a 50% increase to the quarterly dividend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/capital10x.com\/old\/kirkland-lake-q3-2020-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kirkland Lake Gold (KL) - 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