Gold miner Kirkland Lake Gold has re-issued its guidance for 2020, after it withdrew its initial 1.47-million-to-1.54-million guidance in April, owing to the impact of measures that it introduced to protect its workers, their families and the communities during the Covid-19 pandemic.
The new guidance is not too dissimilar to the initial one and will target production of 1.35-million to 1.40-million ounces, but at a lower costs.
Operating cash costs per ounce and all-in sustaining cost (AISC) per ounce is improved to between $410/oz and $430/oz and between $790/oz and $810/oz, respectively, from the previous guidance of $450/oz to $470/oz and $820/oz to $840/oz, respectively.
The lower cost is attributed to the removal of the higher-cost Holt Complex, in Ontario, from its 2020 guidance, as well as changes in the market conditions.