Home Gold Stock Kirkland Lake Gold is being sued by shareholder over Detour acquisition

Kirkland Lake Gold is being sued by shareholder over Detour acquisition

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Article content continuedKirkland and Makuch did not immediately respond to requests for comment.Kirkland also operates the high-grade underground Macassa mine in northeast Ontario and Fosterville mine in Australia.The complaint said some analysts questioned whether adding Detour’s low-grade open pit mine in northeast Ontario justified increasing Kirkland’s mining costs and diluting its reserve grade, or average proportion of gold contained in the ore.Kirkland completed the Detour acquisition on Jan. 31.Citing the coronavirus pandemic, it withdrew its three-year production forecast on May 6, but said it expected to gradually ramp up activity, with the timing determined by the pandemic.The case is Brahms v Kirkland Lake Gold Ltd et al, U.S. District Court, Southern District of New York, No. 20-04953.© Thomson Reuters 2020



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