Kirkland Lake Gold chairman Eric Sprott has announced his retirement, effective after the annual meeting on May 7.
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Total net loss for 2018 was $329.4m or $0.39 per share, compared to a net loss in 2017 of $114.2m or $0.14 per share.
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The company has increased its overall reserves by 6%, net of mining depletion.
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The company has intersected 175 metres of 0.28 g/t gold at its Blue Lake porphyry prospect in Papua New Guinea.
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Output increase would position the mine, which produced 465,000 tonnes of the red metal in 2018, among the world’s five largest copper operations.
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Africa-focused diamond miner said current market conditions didn’t support expansion project at the Lesotho mine.
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The plan puts emphasis on emphasis on agritech, aerospace, defense, renewable energy and telecommunications.
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The companies want to enter into an exploration agreement with option to form a joint venture on the Garfield Flats project.
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Work is scheduled to begin in the June quarter, with first gold expected in the second half of 2020.
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The company has started a preliminary economic assessment which it expects to complete by year-end.
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