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Category: Mid-tier Producer
Rating: 2.00   (Potential 3 Bagger as of 12/12/2016)
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
OTCMKTS:KLGDF 07/19/2017 USD 9.3900 -0.0600 9.7200 - 6.1100 99,867
TSE:KL 07/19/2017 CAD 11.8500 -0.0900 12.4800 - 6.3300 2,340,000
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Don's Summary (from last analysis - 12/12/2016)

Kirkland Lake Gold is a 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 150,000 oz in 2016 and 200,000 oz around 2018. 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 at 220,000 oz annually. These Australian mines also have moderate cash costs, which is why Kirkland acquired Newmarket. Together, their 7 mines provide 500,000 oz of annual production with cash costs around $700 per oz, and all-in costs around $1100 per oz.

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.

General Details

Financial 12/12/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $1,301.68M $1,996.66M 12/12/2016 $694.98M
Total Assets: $363.01M $378.73M 12/12/2016 $15.72M
Total Liabilities: $126.01M $131.47M 12/12/2016 $5.46M
Current Assets: $209.94M $219.04M 12/12/2016 $9.09M
Current Liabilities: $22.63M $23.61M 12/12/2016 $0.98M
Total Debt: $93.70M $97.76M 12/12/2016 $4.06M
Cash: $209.49M $218.57M 12/12/2016 $9.07M
Enterprise Value: $1,185.89M $1,875.85M 06/11/2029 $689.96M
Cash Flow: $21.63M $48.72M never $27.09M
Cash Flow Multiple: 60.18 40.98 never -19.20
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 12/12/2016 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 12/12/2016 0.00%
Misc 12/12/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $6.140 $9.418 16:07 on 07/19/2017 $3.28
Shares Outstanding: 202,000,000 202,000,000 12/12/2016 0
Shares Fully Diluted: 212,000,000 212,000,000 12/12/2016 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 12/12/2016 n/a
Production (Gold Eq Oz.): (guess) 
500,000
(guess) 
500,000
12/12/2016 0
Production (Silver Eq Oz.): (guess) 
34,070,381
(guess) 
38,270,537
12/12/2016 4,200,156
Initial CapEx (Outstanding): n/a n/a 12/12/2016 n/a
Funding Option: n/a n/a 12/12/2016 n/a
Documentation: none PRODUCER 12/12/2016 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 12/12/2016
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 2.30M 2.30M 12/12/2016 0.00M
Measured & Indicated: 11.00M 11.00M 12/12/2016 0.00M
Inferred: 5.00M 5.00M 12/12/2016 0.00M
Reserves & Resources: 16.00M 16.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 2.07M 2.07M 12/12/2016 0.00M
Measured & Indicated: 8.33M 8.33M 12/12/2016 0.00M
Inferred: 2.25M 2.25M 12/12/2016 0.00M
Reserves & Resources: 10.58M 10.58M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
500,000oz.
(guess) 
500,000oz.
12/12/2016 0oz.
Cash Cost: $700 $700 12/12/2016 $0.00
Extra Operating Cost: $400 $400 12/12/2016 $0.00
Average Grade: 8.00 g/t 8.00 g/t 12/12/2016 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 12/12/2016 0.00%
F
U
T
U
R
E
Proven & Probable: 11.00M 11.00M 12/12/2016 0.00M
Annual Production: 500,000oz. 500,000oz. 12/12/2016 0oz.
Cash Cost: $750 $750 12/12/2016 $0
Extra Operating Cost: $400 $400 12/12/2016 $0
SILVER 12/12/2016
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 12/12/2016 0.00M
Measured & Indicated: n/a n/a 12/12/2016 0.00M
Inferred: n/a n/a 12/12/2016 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 12/12/2016 0.00M
Measured & Indicated: n/a n/a 12/12/2016 0.00M
Inferred: n/a n/a 12/12/2016 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 12/12/2016 $0.00
Extra Operating Cost: n/a n/a 12/12/2016 $0.00
Average Grade: n/a n/a 12/12/2016 n/a
Recovery Rate: n/a n/a 12/12/2016 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 12/12/2016 0.00M
Annual Production: n/a n/a 12/12/2016 n/a
Cash Cost: n/a n/a 12/12/2016 n/a
Extra Operating Cost: n/a n/a 12/12/2016 n/a

Property

Last Analysis Data  (12/12/2016)
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
12/12/2016
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.): 2.30M 2.30M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 19.32M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.07M 2.07M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 17.39M
Maximum Profit (Gold): $89.55M $201.70M n/a $112.15M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $89.55M $201.70M n/a $112.15M
Max Profit / Current MCap: 0.069 0.101 n/a 0.032
Max Profit Per Share (Gold): $0.42 $0.95 n/a $0.53
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.42 $0.95 n/a $0.53
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $628.83 $964.57 n/a $335.74
FD Mkt. Cap / Silver Eq.: $9.23 $12.60 n/a $3.37
FD Mkt. Cap / Per Metal
as % Spot Price:
54.13% 77.84% n/a 23.71%
Measured &
Indicated
12/12/2016
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.): 11.00M 11.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 92.40M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 8.33M 8.33M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 70.01M
Maximum Profit (Gold): $360.53M $812.06M n/a $451.54M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $360.53M $812.06M n/a $451.54M
Max Profit / Current MCap: 0.277 0.407 n/a 0.130
Max Profit Per Share (Gold): $1.70 $3.83 n/a $2.13
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.70 $3.83 n/a $2.13
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $156.19 $239.58 n/a $83.39
FD Mkt. Cap / Silver Eq.: $2.29 $3.13 n/a $0.84
FD Mkt. Cap / Per Metal
as % Spot Price:
13.44% 19.33% n/a 5.89%

Reserves &
Resources
12/12/2016
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.): 16.00M 16.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 134.40M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 10.58M 10.58M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 88.91M
Maximum Profit (Gold): $457.86M $1,031.30M n/a $573.44M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $457.86M $1,031.30M n/a $573.44M
Max Profit / Current MCap: 0.352 0.517 n/a 0.165
Max Profit Per Share (Gold): $2.16 $4.86 n/a $2.70
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.16 $4.86 n/a $2.70
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $122.99 $188.65 n/a $65.66
FD Mkt. Cap / Silver Eq.: $1.80 $2.46 n/a $0.66
FD Mkt. Cap / Per Metal
as % Spot Price:
10.59% 15.22% n/a 4.64%

Future Valuation (Cash Flow & Totals)

Totals 12/12/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $1,844.47M $1,967.35M n/a $122.88M
Mkt. Cap: $1,301.68M $1,996.66M n/a $694.98M
Annual Gold Production: (guess) 
500,000oz.
(guess) 
500,000oz.
12/12/2016 0oz.
Annual Silver Production: n/a n/a 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $4,125.00M $4,125M n/a $0M
FD Mkt. Cap Growth: 217% 107% n/a -110%
Annual
Production
Gold: 500,000 oz. 500,000 oz. n/a 0 oz.
Silver: n/a n/a n/a n/a
Current FD
Mkt. Cap /
Gold Eq. Reserves: 118.33 181.51 n/a 63.18
Silver Eq. Reserves: 4.73 7.26 n/a 2.53
Gold Eq. Production: 2,603.37 3,993.32 n/a 1,389.96
Silver Eq. Production: 104.13 159.73 n/a 55.60
P&P
Reserves
(oz.)
Gold: 11.00M 11.00M 12/12/2016 n/a
Silver: n/a n/a 12/12/2016 n/a
Gold Eq.: 11.00M 11.00M 12/12/2016 n/a
Silver Eq.: 275.00M 275.00M 12/12/2016 n/a
P&P Reserves
per FD
Share (oz.)
Gold: 0.052 0.052 n/a n/a
Silver: n/a n/a n/a n/a
Gold Eq.: 0.052 0.052 n/a n/a
Silver Eq.: 1.297 1.297 n/a n/a
Cash Flow 12/12/2016
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $21.63M $48.72M n/a $27.09M
Current Multiple: 60.18 40.98 n/a -19.20
F
U
T
U
R
E
@ current prices: $3.54M $26.76M n/a $23.22M
Multiple @ current prices: 367.71 74.61 n/a -293.09
Growth @ current prices: -83.63% -45.07% n/a 0.39
@ future prices: $405.00M $405.00M n/a $0.00M
Multiple @ future prices: 3.21 4.93 n/a 1.72
Growth @ future prices: 731.28% 731.28% n/a -10.41

Defaults

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