Kirkland Lake shares up almost 8.5% on M&A rumour

Kirkland Lake Gold (TSX: KL) rose nearly 8.5% in early trading Monday after IKN News released a statement Sunday saying the gold […]
Detour Lake mine (Credit: Kirkland Lake Gold)

Topics

Commodities

Companies

Kirkland Lake Gold (TSX: KL) rose nearly 8.5% in early trading Monday after IKN News released a statement Sunday saying the gold miner was “marketing itself to the highest bidder”.

According to the report, the sales process is in an advanced stage, with at least four companies still in the process and "one has now emerged as the clear favorite," although that company is not specified.

"This deal could be announced at any moment and is the driving force behind KL's share price outperformance these last two weeks," the report says.

Kirkland Lake Gold recently increased its measured and indicated resource base for its Detour Lake mine in Ontario by 211% to 14.71 million ounces held in 572,000 tonnes measured and indicated, grading on average 0.8 gram per tonne gold.

Comments

Your email address will not be published. Required fields are marked *

Dec 08 2021 - Dec 09 2021
Jan 18 2022 - Jan 20 2022
Jan 31 2022 - Feb 03 2022