KL - Kirkland Lake says Q1 production topped guidance

Kirkland Lake Gold ([[KL]] +1.0%) reports says Q1 production totaled nearly 303K oz., 8.5% below the year-ago quarter but exceeding company guidance of 270K-290K oz.The company cites higher than expected production at the Fosterville and Detour Lake mines in March, with Fosterville benefiting from significant grade outperformance and Detour Lake achieving higher than planned grades and tons processed.Q1 gold sales totaling 308K oz. at an average realized price of $1,788/oz., compared to gold sales of 344.6K oz. at $1,586/oz. in Q1 2020 and 371K oz. at $1,875/oz. in Q4 2020.Kirkland Lake says it is on track to achieve FY 2021 production guidance of 1.3M-1.4M oz., roughly flat vs. 2020, with all-in sustaining costs on track to remain unchanged from 2020 at $790-$810/oz.Kirkland Lake looks "dirt-cheap at current levels" as Detour Gold continues to shine, Taylor Dart writes in a bullish new analysis published on Seeking Alpha.

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Kirkland Lake says Q1 production topped guidance