Kirkland Lake Gold recently increased its measured and indicated resource base for its Detour Lake mine in Ontario by 211% to 14.71 million oz. gold
“This deal could be announced at any moment and is the driving force behind KL’s share price outperformance these last two weeks,” the report reads.
Kirkland Lake Gold recently increased its measured and indicated resource base for its Detour Lake mine in Ontario by 211% to 14.71 million ounces held in 572,000 tonnes measured and indicated, grading on average 0.8 gram per tonne gold.
The news is stoking speculation in online investor forums that a major producer such as Barrick (NYSE: ABX) might be a potential suitor to gain control of the Detour asset. If the rumour turns out to be true, and if Barrick is involved, another no-premium deal could be expected.
MINING.COM reached out to Kirkland Lake for comment but had not yet received a response by press time.
Kirkland Lake shares in Toronto last traded at C$55.79 ($44.21), which capitalizes it at C$14.87 billion ($11.78 billion).
