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TSX / AIM: KGI
INTERMEDIATE GOLD PRODUCTION
IN ONTARIO HIGH GRADE CAMPJANUARY 2012
TSX / AIM: KGI
KIRKLAND LAKE GOLD INC.CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This Press Release may contain statements which constitute ‘forward-looking statements’ within the
meaning of the Private Securities Litigation Reform Act of 1995 of the United States of America,
including statements regarding the plans, intentions, beliefs and current expectations of the Company,
its directors, or its officers with respect to the future business activities and operating performance of
the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are
intended to identify such forward-looking statements. Investors are cautioned that any such forward-
looking statements are not guarantees of future business activities or performance and involve risks and
uncertainties, and that the Company’s future business activities may differ materially from those in the
forward-looking statements as a result of various factors. Such risks, uncertainties and factors are
described in the Company’s periodic filings with the Securities and Exchange Commission, including the
TSX / AIM: KGI
described in the Company’s periodic filings with the Securities and Exchange Commission, including the
Company’s annual report on Form 20-F and current report on Form 6-K, which may be viewed on
EDGAR at www.sec.gov, and its periodic filings with the Canadian securities regulatory authorities,
including the Company’s Annual Information Form and quarterly and annual Management’s Discussion
& Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the forward-looking statements prove
incorrect, actual results may vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company has attempted to identify
important risks, uncertainties and factors which could cause actual results to differ materially, there may
be others that cause results not be as anticipated, estimated or intended. The Company does not
intend, and does not assume any obligation, to update these forward-looking statements.
2
MANAGEMENT AND EXECUTIVE BOARD MEMBERS
Harry DobsonCHAIRMAN
• Decades of experience in mining capital
markets
• Cofounder of Kirkland Lake Gold with Brian
Hinchcliffe
Brian Hinchcliffe
John ThomsonCFO AND DIRECTOR
• Chartered Accountant who has studied at
INSEAD
• Variety of senior level positions with
companies such as PepsiCo
Mark Tessier
TSX / AIM: KGI
Brian HinchcliffePRESIDENT, CEO AND DIRECTOR
• Over thirty years experience in the
development of mining projects and
companies
• 10 years working at J Aron Goldman Sachs
as a metals trader
• Cofounder of Kirkland Lake Gold with Harry
Dobson
Mark TessierCOO AND DIRECTOR
• Led mine expansion at Goldcorp’s Red Lake
Mine, a new discovery in a historic camp
resulting in 2.8 million ounces of production
over 7 years
• BSc. In Mining Engineering with Honours from
Queens University
• Also worked at the Denison Mine in Elliot
Lake, the Dome Mine in Timmins, the Golden
Giant Mine at Hemlo, and for JS Redpath
Limited3
KIRKLAND LAKE GOLD PROFILE
OWNERSHIPEuropean institutions 30%
North American institutions 30%
LISTINGSKGI – Toronto (TSX)
KGI – London (AIM)
SHARES OUTSTANDING69,904,112 Basic
71,703,112 Fully diluted
RECENT
TSX / AIM: KGI
North American institutions 30%
Management and Directors 27%
Retail 13%
ANALYST COVERAGENational Bank Financial
Dundee Securities
CIBC World Markets
Evolution Securities
Panmure Gordon
Ocean Equities
RECENT$21.31 52 week high
$11.29 52 week low
MARKET CAP$1.18 billion
(Jan 5, 2011, $16.88)
CASH BALANCEC$40.5 million
(Dec 7, 2011)
No debt
MINE GOLD OUNCES
RECOVERED
GOLD OUNCES
PER TON
Wright-Hargreaves 4,821,296 0.49
Lake Shore 8,602,791 0.50
Teck Hughes 3,709,007 0.38
Kirkland Minerals 1,172,955 0.37
Macassa 3,569,253 0.44
Total – 1917 to 2004 21,875,302 0.44 (15.1 g/t)
4
10 KILOMETRES OF STRIKE LENGTH
TSX / AIM: KGI 5
KGI CORPORATE STRATEGYBUILD RESERVES AND RESOURCES TO +5 MILLION OUNCES
INCREASE ANNUAL PRODUCTION to 210,000 - 250,000 OUNCES
CURRENT PRODUCTION GROWTH (MAY 1 – APRIL 30 FISCAL YEAR)
•FY2011: 81,860 ozs at 0.39 opt – a record production figure
•FY2012: 110,000 – 130,000 ozs (CY May 1, 2011 – April 30, 2012)
•FY2013: 180,000 – 200,000 ozs (CY May 1, 2012 – April 30, 2013)
•FY 2014-16 210,000 – 250,000 ozs (Begin CY May 1, 2013)
CASH COSTS TO DECREASE WITH PRODUCTION EXPANSION
•Cash costs per ton will decrease through economies of scale
•Grade elevates with more tonnage from higher grade SMC, will help cost per ounce decline
•4% NSR to Kinross paid in full October 31, 2011 and eliminated
EXPANSION CAPEX SIGNIFICANTLY LOWERED BY USE OF EXISTING INFRASTRUCTURE
TSX / AIM: KGI
EXPANSION CAPEX SIGNIFICANTLY LOWERED BY USE OF EXISTING INFRASTRUCTURE
•Hoisting capacity increase to 2,300 tpd using existing shaft, will support planned production levels
•1,400 TPD mill on the property capable of expansion to 1,600 tpd which supports phase II production levels
•SMC production ramp and related facilities complete late FY 2012
RESERVE AND RESOURCE DEVELOPMENT FY 2012 EXPLORATION BUDGET SET AT $15.8 MILLION
•Increase to 15 diamond drills – 12 underground at Macassa Mine and 3 on surface east of Macassa testing
shallow and deep targets
6
FY 2012 Q2 RESULTS
•Q2 FY 2012 net income for the quarter was $11.8 M, ($0.17 per share)
•Tonnage increased 22% 70,054 tons of ore were milled at a head grade of 0.36 ounces of gold per ton (opt)
and a recovery of 96.1% to produce 24,478 ounces of gold
EXISTING INFRASTRUCTURE IN KL GOLD CAMP
#3 SHAFT #2 SHAFT
LARGELY
UNEXPLORED
TSX / AIM: KGI
3400 L
3800 L
4250 L4500 L
4750 L5025 L5300 L
5700 L
7000 L
2475 L
3000 L 3075 L
UNEXPLORED
7
SOUTH MINE COMPLEX
SOUTH MINE COMPLEX RESERVE/RESOURCE GROWTHDISCOVERY HOLE 90 FEET OF 2.30 OUNCES OF GOLD
Grade Reported In Oz/Ton as at Dec 31st, 2010
200,000
300,000
400,000
500,000
600,000
700,000
800,000
OU
NC
ES
.78 .79
.74
.66
.85
.67
.74
.63
.84
.65
.76.76
.74
.67
.79
P+P RESERVE
M+I RESOURCES
INF RESOURCES
TSX / AIM: KGI
See Kirkland Lake news release dated July 14th, 2010, a copy of which has been filed on SEDAR for further particulars. The contents of the
above slide have been verified and approved by the Company’s Chief Exploration Geologist, Stewart Carmichael, P.Geo, a “qualified
person” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects.
CATEGORY (FY 2010) TONS GRADE (OUNCES) GRADE (GRAMS) OUNCES
Proven
Probable
171,000
859,000
0.65
0.75
22.3
25.7
111,000
647,000
Measured
Indicated
7,000
857,000
0.36
0.67
12.3
23.0
2,000
576,000
Inferred 911,000 0.79 27.1 723,000
8
-
100,000
200,000
FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 CAL 2010
.68
.66
.56.39
MINE WIDE RESERVE/RESOURCE GROWTH
Grade Reported In Oz/Ton as at December 31st, 2010
200,000
300,000
400,000
500,000
600,000
700,000
800,000
OU
NC
ES
.40
.50
.63
.47
.35
.50.54
.41
.61
.54
.44.59
.56.47
.58
.55.48
.60 P+P RESERVE
M+I RESOURCES
INF RESOURCES
TSX / AIM: KGI
CATEGORY (FY 2010) TONS GRADE (OUNCES) GRADE (GRAMS) OUNCES
Proven
Probable
1,187,000
1,460,000
0.45
0.64
15.4
21.9
532,000
932,000
Measured
Indicated
992,000
1,768,000
0.39
0.53
13.4
18.2
391,000
937,000
Inferred 1,740,000 0.60 20.6 1,043,000
See Kirkland Lake news release dated July 14th, 2010, a copy of which has been filed on SEDAR for further particulars. The contents of the
above slide have been verified and approved by the Company’s Chief Exploration Geologist, Stewart Carmichael, P.Geo, a “qualified
person” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects.
9
0
100,000
200,000
FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 CAL 2010
.50
KL GOLD CAMP EXPANSION STRATEGY
TSX / AIM: KGI 10
600
800
1,000
1,200
150,000
200,000
250,000
300,000 CA
SH
CO
ST
S (C
AD
$)
GOLD PRODUCTION FORECAST IN FISCAL YEARS INCLUDES PHASE II ONLY
GO
LD R
EC
OV
ER
ED
(O
UN
CE
S)
CASH COSTS TO DECREASE WITH EXPANDED PRODUCTION
TSX / AIM: KGI
0
200
400
600
0
50,000
100,000
150,000
2011 2012 2013 2014 2015 2016
Gold Recovered Ounces
Cash Costs ($)
CA
SH
CO
ST
S (C
AD
$)
Fiscal Year Runs from May 1 – April 30
GO
LD R
EC
OV
ER
ED
(O
UN
CE
S)
11
PHASE II GOLD PRODUCTION EXPANSION
YEAR DAILY ORE TONNAGE YEARLY PRODUCED OUNCES
FY 2012 (Current) 700 – 800 TPD 110,000 – 130,000
FY 2013 (May 1, 2012 – April 30, 2013) 1,200 – 1,400 TPD 180,000 – 200,000
FY 2014 (May 1, 2013 – April 30, 2014) 1,600 TPD 210,000 – 250,000
FY 2015 (May 1, 2014 – April 30, 2015) 1,600 TPD 210,000 – 250,000
FY 2016 (May 1, 2015 – April 30, 2016) 1,600 TPD 210,000 – 250,000
PHASE II
TSX / AIM: KGI
PHASE II
• Mill capacity will expand from 1,400 tpd to 1,600 tpd, will support planned production levels
• Hoisting capacity increase from 1,000 – 2,300 tpd using existing shaft supports planned
production levels
PHASE III - UNDER EVALUATION
•Evaluating 2,000 – 3,000 tpd of ore daily ore tonnage which translates to 300,000 – 350,000
ounces of annual production
•Evaluating how to increase mill throughput beyond 1,600 tpd
• Further increases to hoisting capacity possible using existing shaft
12
INCREASE TO HOISTING CAPACITY USING EXISTING SHAFT
ACTUAL
CONFIGURATION
CAGE CAGE
POSSIBLE FUTURE
CONFIGURATION
CAGE CAGE
CAGE
CAGE
PHASE II
CONFIGURATION
CAGE
CAGECAGE
SKIP
CAGE
SKIP
TSX / AIM: KGI
SKIP
10 T.
CAGE
SKIP
10 T.
CAGE
SKIP
14 T.
SKIP
14 T.
CAGE
CAGE
CAGE
CAGE
SKIP
10 T.
CAGE
SKIP
10 T.
CAGE
– 8 hours/day
– 13 skips/hour 1,000 tpd
– 10 tons/skip
– 18 hours/day
– 13 skips/hour 2,300 tpd
– 10 tons/skip
– 18 hours/day
– 13 skips/hour *3,200 tpd
– 14 tons/skip*Options to increase skipping capacity to up
to 4,200 tpd currently being studied
13
PRODUCTION EXPANSION PROGRAMS DRIVES TO SUPPORT 60 - 70 WORKING FACES
NEW SECOND POWER
TRANSFORMER
• Doubles power
• Adds supply redundancy
NEW COMPRESSOR
COOLING
• News radiators allow for
future heat recovery
DRY/OFFICE EXPANSION
• Gives dry capacity for
1100 people
NEW SERVICE HOIST
• Frees up skipping hoist; doubles skipping
capacity
• Automation upgrades to skipping hoist and
pockets improves efficiencies
TSX / AIM: KGI
NEW #2 SHAFT POWER LINE
• 5 kilovolt line allows for backup
for #2 or #3 shaft
UPGRADE TO SHAFT SERVICES
• Increases compressed air & additional 4160v
power delivery to underground workings
• 80% increase to water pumping capacity
1100 people
• Adds 6,000 sq. Feet of
office space
NEW COMPRESSORS
• High efficiency increases air
production by 275%
14
MILL CAPACITY 1,400 TPD, EXPANDING TO 1,600 TPD 96 - 97% MILLING RECOVERY RATE
TSX / AIM: KGI 15
NEW PRODUCTION VISION:TRACKLESS HAULAGE RAMP TO THE SOUTH
50 LEVEL
53 LEVEL
LEGEND54 Level north
& south
57 Level north
& south
drifts
51 LOADING
51 LEVEL
#2 WINZE
TSX / AIM: KGI
LEGEND
COMPLETED DEVELOPMENT
NEXT DEVELOPMENT
CURRENT DEVELOPMENT
FUTURE DEVELOPMENT
& south
drifts 56 Level north
& south
drifts
drifts
58 Level north
& south
drifts60 Level north
& south
drifts61 Level north
& south
drifts64 Level north
& south
drifts
66 Level north
& south
drifts
69 Level north
& south
drifts
70 Level North
drifts to ‘04 &
’05 Zones
16
#3 SHAFT
RECRUITMENT, TRAINING, AND HIRING
300
400
500
600
July
August
EMPLOYEE RETENTION PROGRAMS:
• Competitive wage and bonus structure
• 7 day on, 7 day off work schedule
• Company family doctor
• Mine located in the town of Kirkland Lake
• Housing initiatives
• 2011 retention rate of 96%
– Recipient of the 2010 Excellence in Safety
RESUME FLOW
TSX / AIM: KGI
0
100
200
July August September
September – Recipient of the 2010 Excellence in Safety
Award for lowest accident frequency for
Underground Mines with over 250
employees in the Province of Ontario
HIRING AND TRAINING
• 237 people hired in FY 2011
• Total number of employees as of July 2011
is 765 – up from 250 in 2008
17
CANADAPOLITICALLY SAFE AND LOWERING TAXES TO ATTRACT INVESTMENT
• Canada remained the top destination for global exploration over last few years,
attracting 16% of world spending (Australia second). Exploration expenditures on gold
for 2011 forecast $1 bln
• Capital expenditures spent developing Canada’s mining properties totalled $8.2 B in
2009
• Canada has decreased the Federal Tax from 25% to 15% commencing 2012. Ontario
TSX / AIM: KGI
• Canada has decreased the Federal Tax from 25% to 15% commencing 2012. Ontario
Provincial Tax is 10% for a combined tax of 25%
• Undertaking IFRS transition commencing Q1 2012 financials – released on October 5,
2011
– A $14.2 M deferred tax asset was reflected on the Balance Sheet in our Q1 2012
financial statements
• At current gold price and anticipated production expansion, the company will have
exhausted all brought forward losses (approximately $28 million CAD) and be liable to
tax at approximately 26% by December 2012
18
2011: 100-YEAR ANNIVERSARY OF FIRST GOLD DISCOVERY IN KIRKLAND LAKE
TSX / AIM: KGI 19
STEP OUT HOLES TO THE WEST EXTEND MINERALIZATION 2,000 FEET?
TSX / AIM: KGI 20
MAY 2011:
8.16 OUNCES OF GOLD OVER 47 FEET TRUE WIDTH
TSX / AIM: KGI 21
NOVEMBER 2011 DRILLING EXTENDS SMC TO EAST
TSX / AIM: KGI 22
6.14 OUNCES OF GOLD OVER 13.7 FEET
TSX / AIM: KGI 23
HIGH GRADE DEPOSIT
•Proven + Probable: 1,464,000 ozs @ 0.55 opt or 18.9 gpt
•Measured + Indicated: 1,328,000 ozs @ 0.48 opt or 16.5 gpt
•Inferred: 1,043,000 ozs @ 0.60 opt or 20.6 gpt
GROWING YEARLY PRODUCTION AND CASH FLOW, DECLINING CASH COSTS
•Building yearly production to 210,000 – 250,000 ozs by start of FY 2014 (CY May 1, 2013) and onwards
•Cash costs to decrease through economies of scale and operating efficiencies
•4% NSR to Kinross paid in full October 31, 2011 and eliminated
•Low expansion capex due to use of existing infrastructure
•$57 M of $75 M expansion capital spent as of October 31, 2011
POSITIONED FOR GROWTH
TSX / AIM: KGI
•$57 M of $75 M expansion capital spent as of October 31, 2011
EXCELLENT EXPLORATION POTENTIAL IN PROLIFIC HISTORIC CAMP
•New high grade discovery (SMC) in historic camp in different geologic setting than quartz vein hosted
Main Break, which produced 21.8 M ounces of gold
•SMC remains open in all directions and at depth
•2012 exploration programs focused on SMC, step-out holes 2,000 feet to West of SMC, surface programs
and more
POLITICALLY SAFE JURISDICTION, CANADA
•13,110 acres of property on 100% owned ground to explore and develop
•Fully permitted
24
CONTACTFOR FURTHER INFORMATION PLEASE CONTACT:
Brian Hinchcliffe
President and CEO and Director
705-567-5208
TSX / AIM: KGI
John Thomson
CFO and Director
705-567-5208
Lindsay Carpenter
Director of Investor Relations
416-840-7884