TORONTO, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) is pleased to announce that the Company has received approval from the Australian Securities Exchange (the “ASX”) for a secondary listing of the Company as a Foreign Exempt Listing and the quotation of its common shares as Chess Depositary Instruments (“CDIs”) on the ASX.
Trading of the Company’s CDIs on the ASX will commence on a normal settlement basis on November 30, 2017 under the symbol “KLA”.
Tony Makuch, President and CEO, Kirkland Lake Gold, commented: “We are excited to be listing on the ASX on the one year anniversary of our transformational transaction with Newmarket Gold Inc., which resulted in the acquisition of our Australian assets. Since that transaction, our Fosterville Mine in Victoria has emerged as one of the world’s great high-grade, low-cost gold producers, with production on track to reach 250,000 – 260,000 ounces in 2017 and all-in sustaining costs currently averaging around $500 per ounce. The ASX listing reflects our company’s long-term commitment to Australia as one of our two core markets and provides existing and potential shareholders based in the country, including our 470 employees, with access to an Australian-based trading platform.”
Eddie Grieve, Head of Listings and Issuer Services, ASX, commented: "We are excited to welcome Kirkland Lake Gold to the ASX, where the Company will join some of the world's leading resource, finance and technology companies. ASX is home to more than 260 international companies from around the world, and we look forward to providing Kirkland Lake Gold with access to our full suite of listing, trading, clearing and settlement services.”
There is no offering of common shares in connection with the secondary listing.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a mid-tier gold producer with 2017 target production of 580,000 to 595,000 ounces from mines in Canada and Australia. The production profile of the company is anchored from two high-grade, low-cost operations, including the Macassa Mine located in northeastern Ontario and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management and operational expertise.
