Kirkland Lake Achieves Quarterly Gold Recovery of 40,528 Ounces

Kirkland Lake Gold Inc. (TSX:KGI,LSE:KGI) announced its operational and financial results for the first fiscal quarter of 2015, commenting that its net and comprehensive income for the quarter came to $5 million, or $0.07 per share.

Other financial highlights include:

• Cash inflows from operations were $16.7 million (Q4/14: $3.6 million, Q1/14: $14.7 million).
• Free cash flow1 for the quarter was $5.0 million (Q4/14: nil, Q1/14: nil).
• Income before income taxes for the quarter was $5.6 million (Q4/14: $2.5 million loss, Q1/14: $0.8 million loss).
• The Company closed a flow-through financing on July 3, 2014 for gross proceeds of $7.5 million to be used for near-surface exploration.
• Cash as at July 31, 2014 was $40.2 million.

Operational highlights include:

• A total of 40,528 ounces were recovered from 93,880 tons milled at an average head grade of 0.45 ounces per ton (‘opt’).
• Waste tons milled decreased from the previous quarter’s 2,532 tons to 1,060 tons representing a 58% reduction.

Click here to read the full Kirkland Lake Gold Inc. (TSX:KGI,LSE:KGI) press release.