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Category: Mid-tier Producer
Rating: 2.00   (Potential 3 Bagger as of 08/10/2017)
Risk: Moderate
Kirkland Lake Gold Ltd
www: klgold.com     email: info@klgold.com

Profile
Notes
Forum
Your Data

Price Data

Symbol Date Price Change 52 Wk Range Volume
TSE:KL 09/19/2017 CAD 15.8600 0.1100 16.9600 - 3.6000 911,615
OTCMKTS:KLGDF 08/15/2017 warning USD 10.5858 0.0000 13.3500 - 4.7370 0
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Don's Summary (from last analysis - 08/10/2017)

Kirkland Lake Gold is a large mid-tier producer in Canada and Australia. They have a large property (Macassa mine) in Ontario on 13,000 acres. It is a 5 million oz resource (16 gpt) that will produce 200,000 oz around 2017. In 2015, they purchased St Andrew Goldfields, which was nearly an identical company: 5 million oz of resources and 150,000 oz of production in Ontario (Holt, Holloway, and Taylor mines).

In 2016, they merged with Newmarket Gold, which has 6 million oz of resources and 3 producing mines. Their Australian properties will produce 250,000 oz in 2017, with low cash costs, which is why Kirkland acquired Newmarket. Together, their 7 mines provide 550,000 oz of annual production with cash costs around $550 per oz, and all-in costs around $900 per oz. These low costs will be difficult to maintain, but the reason they are trading at a 1 year high.

They have $275 million in cash and $123 million in debt. One of the best things about the stock is their locations: Canada (Ontario) and Australia. Another reason to like this stock is their growth potential. I expect them to buy another company or two and become a major. Currently they are not cheap, and will need to grow through acquisitions. I like their management team and expect them to do well. Annual free cash flow is currently around $150 million at $1280 gold. Soon they will buying another company, once their cash balance grows a bit more.

General Details

Financial 08/10/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $2,206.43M $2,741.39M 08/10/2017 $534.97M
Total Assets: $374.30M $388.52M 08/10/2017 $14.22M
Total Liabilities: $129.93M $134.86M 08/10/2017 $4.94M
Current Assets: $216.47M $224.70M 08/10/2017 $8.22M
Current Liabilities: $23.33M $24.22M 08/10/2017 $0.89M
Total Debt: $96.61M $100.29M 08/10/2017 $3.67M
Cash: $216.01M $224.22M 08/10/2017 $8.21M
Enterprise Value: $2,087.03M $2,617.46M 12/10/2052 $530.43M
Cash Flow: $148.73M $159.04M never $10.32M
Cash Flow Multiple: 14.84 17.24 never 2.40
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 08/10/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 08/10/2017 0.00%
Misc 08/10/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $10.408 $12.931 16:09 on 09/19/2017 $2.52
Shares Outstanding: 209,000,000 209,000,000 08/10/2017 0
Shares Fully Diluted: 212,000,000 212,000,000 08/10/2017 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 08/10/2017 n/a
Production (Gold Eq Oz.): (guess) 
550,000
(guess) 
550,000
08/10/2017 0
Production (Silver Eq Oz.): (guess) 
41,396,431
(guess) 
41,818,471
08/10/2017 422,041
Initial CapEx (Outstanding): n/a n/a 08/10/2017 n/a
Funding Option: n/a n/a 08/10/2017 n/a
Documentation: none PRODUCER 08/10/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 08/10/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 4.00M 4.00M 08/10/2017 0.00M
Measured & Indicated: 13.00M 13.00M 08/10/2017 0.00M
Inferred: 5.00M 5.00M 08/10/2017 0.00M
Reserves & Resources: 18.00M 18.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 3.60M 3.60M 08/10/2017 0.00M
Measured & Indicated: 10.08M 10.08M 08/10/2017 0.00M
Inferred: 2.25M 2.25M 08/10/2017 0.00M
Reserves & Resources: 12.33M 12.33M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
550,000oz.
(guess) 
550,000oz.
08/10/2017 0oz.
Cash Cost: $550 $550 08/10/2017 $0.00
Extra Operating Cost: $350 $350 08/10/2017 $0.00
Average Grade: 6.00 g/t 6.00 g/t 08/10/2017 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 08/10/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 12.00M 12.00M 08/10/2017 0.00M
Annual Production: 650,000oz. 650,000oz. 08/10/2017 0oz.
Cash Cost: $700 $700 08/10/2017 $0
Extra Operating Cost: $400 $400 08/10/2017 $0
SILVER 08/10/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 08/10/2017 0.00M
Measured & Indicated: n/a n/a 08/10/2017 0.00M
Inferred: n/a n/a 08/10/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 08/10/2017 0.00M
Measured & Indicated: n/a n/a 08/10/2017 0.00M
Inferred: n/a n/a 08/10/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/10/2017 $0.00
Extra Operating Cost: n/a n/a 08/10/2017 $0.00
Average Grade: n/a n/a 08/10/2017 n/a
Recovery Rate: n/a n/a 08/10/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 08/10/2017 0.00M
Annual Production: n/a n/a 08/10/2017 n/a
Cash Cost: n/a n/a 08/10/2017 n/a
Extra Operating Cost: n/a n/a 08/10/2017 n/a

Property

Last Analysis Data  (08/10/2017)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Australia Cosmo 100% n/a Open Pit show
Currently producing 100,000 oz.
Production Bendigo, Australia Fosterville 100% n/a Open Pit show
Currently producing 100,000 oz
Production Stawell, Australia Stawell 100% n/a n/a show
Currently producing 30,000 oz
Production Timmins, Canada Hislop 100% 1 n/a n/a
Production Matheson, Canada Holloway 100% n/a n/a n/a
Production Kirland Lake, Canada Kirkland Lake 100% 5,000 Underground n/a
Development Australia Burnside 100% (guess) n/a n/a show
900,000 oz resource
Development Matheson, Canada Holt 100% n/a n/a n/a
Development Taylor, Canada Taylor 100% n/a n/a n/a
Exploration Darwin, Australia Maud Creek 100% n/a n/a show
1.2 million oz resource
Exploration Pine Creek, Australia Union Reefs 100% n/a n/a show
500,000 oz resource
Exploration Timmins, Canada Aquarius 100% n/a n/a n/a
Exploration Timmins, Canada Clavos 100% n/a n/a n/a
Total Land Package Size (ha): 5,001  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Australia Cosmo 100% n/a Open Pit show
Currently producing 100,000 oz.
Production Bendigo, Australia Fosterville 100% n/a Open Pit show
Currently producing 100,000 oz
Production Stawell, Australia Stawell 100% n/a n/a show
Currently producing 30,000 oz
Production Timmins, Canada Hislop 100% 1 n/a n/a
Production Matheson, Canada Holloway 100% n/a n/a n/a
Production Kirland Lake, Canada Kirkland Lake 100% 5,000 Underground n/a
Development Australia Burnside 100% (guess) n/a n/a show
900,000 oz resource
Development Matheson, Canada Holt 100% n/a n/a n/a
Development Taylor, Canada Taylor 100% n/a n/a n/a
Exploration Darwin, Australia Maud Creek 100% n/a n/a show
1.2 million oz resource
Exploration Pine Creek, Australia Union Reefs 100% n/a n/a show
500,000 oz resource
Exploration Timmins, Canada Aquarius 100% n/a n/a n/a
Exploration Timmins, Canada Clavos 100% n/a n/a n/a
Total Land Package Size (ha): 5,001  

Profitability (by resource)

Proven &
Probable
08/10/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.00M 4.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 3.07M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.60M 3.60M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 2.76M
Maximum Profit (Gold): $973.48M $1,041.01M n/a $67.54M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $973.48M $1,041.01M n/a $67.54M
Max Profit / Current MCap: 0.441 0.380 n/a -0.061
Max Profit Per Share (Gold): $4.59 $4.91 n/a $0.32
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.59 $4.91 n/a $0.32
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $612.90 $761.50 n/a $148.60
FD Mkt. Cap / Silver Eq.: $8.14 $10.02 n/a $1.87
FD Mkt. Cap / Per Metal
as % Spot Price:
47.65% 57.99% n/a 10.34%
Measured &
Indicated
08/10/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 13.00M 13.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 9.98M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 10.08M 10.08M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 7.73M
Maximum Profit (Gold): $2,725.73M $2,914.83M n/a $189.10M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,725.73M $2,914.83M n/a $189.10M
Max Profit / Current MCap: 1.235 1.063 n/a -0.172
Max Profit Per Share (Gold): $12.86 $13.75 n/a $0.89
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $12.86 $13.75 n/a $0.89
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $218.89 $271.96 n/a $53.07
FD Mkt. Cap / Silver Eq.: $2.91 $3.58 n/a $0.67
FD Mkt. Cap / Per Metal
as % Spot Price:
17.02% 20.71% n/a 3.69%

Reserves &
Resources
08/10/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 18.00M 18.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 13.81M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 12.33M 12.33M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 9.46M
Maximum Profit (Gold): $3,334.16M $3,565.47M n/a $231.31M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,334.16M $3,565.47M n/a $231.31M
Max Profit / Current MCap: 1.511 1.301 n/a -0.211
Max Profit Per Share (Gold): $15.73 $16.82 n/a $1.09
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $15.73 $16.82 n/a $1.09
Total Free Profit Per Share: $2.48 $0.96 n/a $-1.52
FD Mkt. Cap / Gold Eq.: $178.95 $222.34 n/a $43.39
FD Mkt. Cap / Silver Eq.: $2.38 $2.92 n/a $0.55
FD Mkt. Cap / Per Metal
as % Spot Price:
13.91% 16.93% n/a 3.02%

Future Valuation (Cash Flow & Totals)

Totals 08/10/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $2,379.01M $2,428.58M n/a $49.57M
Mkt. Cap: $2,206.43M $2,741.39M n/a $534.97M
Annual Gold Production: (guess) 
550,000oz.
(guess) 
550,000oz.
08/10/2017 0oz.
Annual Silver Production: n/a n/a 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $4,500.00M $4,500M n/a $0M
FD Mkt. Cap Growth: 104% 64% n/a -40%
Annual
Production
Gold: 650,000 oz. 650,000 oz. n/a 0 oz.
Silver: n/a n/a n/a n/a
Current FD
Mkt. Cap /
Gold Eq. Reserves: 183.87 228.45 n/a 44.58
Silver Eq. Reserves: 7.35 9.14 n/a 1.78
Gold Eq. Production: 3,394.50 4,217.53 n/a 823.03
Silver Eq. Production: 135.78 168.70 n/a 32.92
P&P
Reserves
(oz.)
Gold: 12.00M 12.00M 08/10/2017 n/a
Silver: n/a n/a 08/10/2017 n/a
Gold Eq.: 12.00M 12.00M 08/10/2017 n/a
Silver Eq.: 300.00M 300.00M 08/10/2017 n/a
P&P Reserves
per FD
Share (oz.)
Gold: 0.057 0.057 n/a n/a
Silver: n/a n/a n/a n/a
Gold Eq.: 0.057 0.057 n/a n/a
Silver Eq.: 1.415 1.415 n/a n/a
Cash Flow 08/10/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $148.73M $159.04M n/a $10.32M
Current Multiple: 14.84 17.24 n/a 2.40
F
U
T
U
R
E
@ current prices: $72.66M $83.11M n/a $10.45M
Multiple @ current prices: 30.37 32.99 n/a 2.62
Growth @ current prices: -51.15% -47.74% n/a 0.03
@ future prices: $546.00M $546.00M n/a $0.00M
Multiple @ future prices: 4.04 5.02 n/a 0.98
Growth @ future prices: 243.30% 243.30% n/a -0.24

Defaults

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