KL - Kirkland Lake Gold: My Bearish Thesis Is Playing Out But Getting Close To A Buy
- Kirkland Lake Gold significantly reduced 2021-2022 production estimates at the Fosterville mine, which has weighed on the shares.
- With Macassa and Detour, Kirkland is positioned for long-term success.
- I still believe that Kirkland's relative value has more room to move lower over the next 3-6 months. However, I'm not nearly as cautious on the stock as I was previously.
- A major discovery at Fosterville or the other targets like Robbin's Hill gets the Fosterville story back on track.
- If Kirkland can acquire a compelling asset at a discount and apply its expertise to extract even more value out of that asset, the downside from current prices could be minimal.
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Kirkland Lake Gold: My Bearish Thesis Is Playing Out, But Getting Close To A Buy