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For many investors, gold represents a convenient way to protect themselves from market volatility. But that doesnt mean gold mining stocks are free of risk. Plenty of factors pose threats to these companies.Since all gold stocks are far from equal considerations, lets dig into one of the more intriguing options so far in 2019, Kirkland Lake Gold NYSEKL, to evaluate the associated risks.
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Get DetailFor many investors, gold represents a convenient way to protect themselves from market volatility. But that doesnt mean gold mining stocks are free of risk. Plenty of factors pose threats to these companies.Since all gold stocks are far from equal considerations, lets dig into one of the more intriguing options so far in 2019, Kirkland Lake Gold NYSEKL, to evaluate the associated risks.
Clearly, one of the greatest risks facing Kirkland Lakes success is volatility in the price of gold. Because it relies solely on gold production to keep the lights on, this obvious risk factor is more pronounced than with its peers, which also benefit from the production of other metals. By diversifying their portfolios with exposure to several metals, these companies mitigate the risk of steep downturns in the market prices of any one commodity.
One of Kirkland Lakes peers,Yamana Gold NYSEAUY, for example, estimates that in 2020, gold and silver production will account for 85 and 15 of revenue, respectively. Moreover, Yamana, which recently sold its copper-producing asset in Brazil, may return to production of the metal with the development of its Agua Rica asset in Argentina.
Further distinguishing itself from peers, Kirkland Lake doesnt have a precious metals hedging program to protect itself from volatility in the price of gold. In its Q1 2019 earnings report, management nonetheless contends that the company remains well positioned to benefit from potential increases in the price of gold while continuing to focus on cost management, mine efficiencies, and low-cost gold production from its existing mines in order to mitigate against gold price decrease.
For Kirkland Lake, drops in the price of gold will hurt less severely than for its gold mining peers. In 2018, for example, itreported all-in sustaining costs AISC of 685 per gold ounce, providing the company a nice margin, since it reported an average gold price of 1,267 for the year. The company forecasts 2019 AISC of approximately 540 per gold ounce, which suggests the year may be a lucrative one since the average price of gold for the first half of 2019 has been about 1,307.
Operating three mines in Canada and two mines in Australia, Kirkland Lake reported gold production of more than 723,000 ounces in 2018, and it forecasts approximately 975,000 ounces in 2019. Management, evidently, knows where the company can mine at the moment, but to ensure future success, it must replenish the resources that it depletes as it digs the metal out of the ground.
To achieve this, Kirkland can either identify gold targets on its own, growing organically, or grow through acquisition. Both options carry a fair degree of risk. Pursuing expansion of its mineral resources, the companycommitted 98 million of its capital expenditures to exploratory activities in 2018, and it expects this to rise to about 110 million in 2019.
While the company was successful last year, growing its mineral reserves about 24 to 5.8 million ounces, theres no guarantee that it will continue to enjoy the same success.
Moreover, the identification of a promising deposit doesnt mean that it will be a profitable endeavor for the company to develop, since it largely depends on the price of gold at the time.
In terms of acquisitions, the company doesnt have an extensive history of purchasing assets or companies. Nonetheless, if it does go shopping, investors must remember the companys ever-present sensitivity to the price of gold. A mining asset that may be profitable to develop with gold at 1,400 per ounce may be less than lucrative if gold plummets to 1,100 per ounce.
Jul 22, 2020nbsp018332Pure Gold Mining received a quotmilestonequot environmental permit from the province on its path toward starting production on a new mine, southwest of Red Lake.. The Vancouver-headquartered developer announced that the ministry of the environment, conservation and parks has approved and issued an amended environmental compliance approval for air and noise emissions at the Pure Gold Mine.
An April 2020 Pre-Feasibility Study outlined an open pit mining and conventional milling operation over a twelve-year mine life with a 36 after-tax rate of return and an average gold production profile of 175,000 ounces of gold per year for the first 9 years. The Project has estimated Proven and Probable Mineral Reserves of 1.87 Moz 41.05 Mt ...
Jul 18, 2020nbsp018332Major structures within the camp include the Kirkland Lake Break and Cadillac Larder Lake Break which runs from Kirkland Lake, Ontario into Val dOr Quebec, approximately 200 km. CARDS AI will build gold pattern signatures in one of the most prolific mining camps in Ontario. The project covers a total area of 932.45 km 2. The ...
Aug 05, 2020nbsp018332Company shares closed 2.82 per cent in the green to trade for 36.5 cents Apollo Consolidateds AOP latest drilling results highlight further gold potential from drilling at its Lake Rebecca Gold Project in the Goldfields region of WA.
As a new exploration play in the exceptionally prolific Abitibi Greenstone area, Gold Lakesnbsprepresents compelling investment and takeover potential.
Gold has spiked over 1,300 for the first time in two years, and the Gold Miners ETF GDX has risen 50 since the start of 2016.
Gold Lakes Corporation strategy is to identify and acquire prospective properties in well-mineralized mining areas and advancing these properties toward making new discoveries within the Abitibi Greenstone Belt. For slightly over a century, the legendary Abitibi-Greenstone belt has produced hundreds of billions of dollars39 worth of mostly gold, silver, copper and zinc.
The Abitibi Greenstone belt is an established gold mining district having produced over 100 mines and 180 million ounces of gold since 1901.
The Abitibi Greenstone Belt is an established gold mining district comparable to Nevadas Carlin trend having produced over 100 mines and 180 million ounces of gold and more than 50 million...
The Big Monty lies within the prolific Porcupine-Destor Fault Zone ldquoPDFZrdquo 110 Million ounces of Au produced to date and adjacent to the North and Northwest borders by St. Andrews Goldfieldrsquos Holt Property SAS TSXV which has 2.8 Million Ounces of measured and indicated resources and 1.1 Million Ounces of inferred resources as of December 31, 2013.
GLLK management intends to prove that the Holt property gold system continues onto its claims.
The 2,846 acre Big Monty was acquired by GLLK in a deal with Flex Mining Ltd. A November 2012 Airborne Survey noted a variety of features characteristic of gold bearing fields within the seven claims making up the property.
Initially, the Company plans to do extensive groundwork and rock sampling, once the current geological report is interpreted, Eventually, an NI-43-101 report will be commissioned to delineate the indicated and reserve figures.
Goldsappeal as a safe-haven asset back in the limelight, thanks to the volatility across global markets, triggered largely by trade tensions between the U.S. and China. Evidence lies in gold prices, which have gained steady ground in the past couple of months or so after a painful start to the year.
The environment bodes well for gold mining companies that have intently focused on boosting productivity and cost efficiency in recent times. While its difficult to predict where gold prices are headed, turbulence in the stock market and widespread fears of an economic slowdown in 2019 make it an opportune time for investors to consider adding gold stocks to their portfolio. Barrick Gold NYSEGOLD, Kirkland Lake Gold NYSEKL, and SSR Mining TSXSSRMare three top gold mining stocks you might want to consider for 2019. Heres why.
2018 wouldve gone down as yet another painful year for Barrick Gold shares if not for its recent move to acquire Randgold Resources NASDAQ GOLD.
During the nine months ended Sept. 30, 2018, Barricks revenue declined13 and adjusted net income slumped nearly 45, year over year. All-in-sustaining cost -- or AISC, a comprehensive cost measure used in the gold industry -- rose to 813 per ounce of gold from 750 an ounce in the year-ago period.
Barricks full-year production guidance downgrade earlier in the year didnt sit well with the market, either It expects to produce 4.5 million-5 million ounces versus 5.32 million ounces in 2017. Though the fall is largely because of a stake sale in its Veladero mine, the market still sent Barrick shares crashing to 52-week lows in September before backing up the truck again on a surprisingly big news.
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Crushing Machine Manufacturers From Europewe Ltd. is a large-sized joint-stock enterprise integrated with the scientific research, production and sales of heavy mining machinery. It is located in high and new technology industrial development zone, Zhengzhou with an area of 200,000 m.
Crushing plant design should accordingly provide for laydown and workspace for onsite equipment refurbishment and repair. Where possible, equipment manufacturers should be encouraged to stock and provide spare parts close to the mining operation. Good geotechnical information is essential to crushing plant siting and design. Installing a
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