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Kirkland Lake Gold posts record gold output in Q3

Kirkland Lake Gold Ltd. on Oct. 9 reported record-high gold production for the third quarter, increasing 30% year on year to 180,155 ounces.

Production at the company's Fosterville gold mine in Victoria, Australia, increased 47% annually to 90,618 ounces. Its Canadian operations also saw strong output.

Gold sales grew to 184,509 ounces, from 137,908 ounces in the third quarter of 2017.

The ASX-, Toronto- and NYSE-listed miner is on track to achieve 2018 gold production guidance of more than 635,000 ounces. As of Sept. 30, Kirkland Lake Gold had US$275 million in cash and equivalents.