Friday, September 12, 2025

Latest

Kirkland Lake Announces Revenues Of $581.0 Million, Net Earnings of $150.2 Million In Second Quarter 2020

Kirkland Lake Gold (TSX: KL) this morning released its second quarter financial results, demonstrating why M&A activity is about to heat up in the resources space. The company announced total revenues of $581.0 million, more than doubling its Q2 2019 results thanks in part to its acquisition of Detour Lake earlier this year, whom generated $233 million in revenues during the quarter alone. The company generated net earnings of $150.2 million during the second quarter.

Gold sales during the quarter totaled 341,390 ounces, a slight decline from the 344,586 ounces sold in the first quarter. However, the rising spot price of gold enabled the firm to report revenues 5% despite this. The average price obtained for its gold came in at $1,716 per ounce, as compared to $1,586 in the first quarter, and $1,320 received per ounce in the year ago period.

Production totaled 329,770 ounces, a decline from 330,864 ounces in the first quarter. However, production costs were down comparatively, at $141.4 million during the period ended June 30, as compared to $161.6 million in the previous quarter. All in sustaining costs per ounce sold were also down, falling from $776 to $751 on a quarter over quarter basis.

The company also posted strong cash flow during the quarter, with net cash provided by operating activities totaling out at $222.2 million, while free cash flow came in at $94.1 million, due to a $132.6 million tax payment made during the quarter for the 2019 tax year. The result is the company reported a total cash position of $537.4 million at the end of the second quarter, with no debt on the books.

Kirkland Lake Gold last traded at $50.49 on the NYSE.


Information for this briefing was found via Sedar and Kirkland Lake Gold Ltd. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

In this interview, Shane Williams, CEO & President of West Red Lake Gold Mines (TSXV:...

Saturday, July 12, 2025, 11:35:00 AM

Gold Rallies upto 7% as Central Banks Around the Globe Continue to Print their Way Out of the Coronapocalypse

This morning Gold has rallied approaching 7 year highs. We can see Gold is pushing...

Tuesday, March 24, 2020, 09:41:47 AM

Kirkland Lake Sees First Quarter Production Increase 43% Year Over Year

It appears that despite current operational shutdowns, Kirkland Lake Gold (TSX: KL) (NYSE: KL) is...

Thursday, April 9, 2020, 09:08:18 AM

Skeena Hits 4.06 G/T Gold Equivalent Over 58.50 Metres At Eskay Creek

Skeena Resources (TSX: SKE) this morning reported further drill results from its ongoing drill campaigns...

Wednesday, February 3, 2021, 08:45:20 AM

Lundin Mining Slashes Candelaria Production Guidance

Lundin Mining Corporation (TSX: LUN) this morning reported that production guidance for 2021 at its...

Monday, June 21, 2021, 07:46:27 AM