Kirkland Lake Gold CEO Tony Makuch faces an uphill battle convincing investors and analysts that he made the right decision in buying higher cost producer Detour Gold.
Toronto-based Makuch traveled to New York Tuesday to meet with investors as shares plummeted, wiping about $2-billion off his company’s market value so far this week. The cost to operate and sustain the Detour Lake mine was more than double that of Kirkland’s projects in the third quarter.