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KL - Kirkland Lake Gold's Acquisition Of Detour Gold And All The Fallacious 'Analysis'
Kirkland Lake Gold Ltd.
Kirkland Lake Gold (KL) announced a few weeks ago that it's acquiring Detour Gold (DRGDF) for $4.9 billion in stock, or a 24% premium.
KL plunged the day of this news announcement, wiping out most of the premium for Detour shareholders.
(Source: SomaBull)
The consensus opinion on this deal - and why KL was eviscerated - is that it's atrocious for Kirkland Lake, as it is a low-cost producer, and Detour's $1,100+ AISC will be a drag on margins. This is a highly flawed argument. Most "analysis" I have seen on