SELECTED FINANCIAL INFORMATION & REVIEW OF OVERALL PERFORMANCE
----------------------------------------------------------------------------Financial Highlights Three months ended,(All amounts in 000's of Canadian Dollars, except shares and per share figures) --------------------------------------- Jan 31, 2013 Oct 31, 2012 Jan 31, 2012----------------------------------------------------------------------------Gold Sales (ounces) 17,340 22,345 25,245Average Price (per ounce) 1,700 1,660 1,736----------------------------------------------------------------------------Revenue 29,474 37,101 43,819Production Expenses 26,587 30,042 25,410Exploration Expenses 4,083 4,710 3,593Other Expenses 4,669 3,175 1,255Net (Loss) Income before Income Taxes (5,667) (826) 13,560Net and Comprehensive (Loss) Income (9,710) (783) 9,514Per share (basic and diluted) (0.14) (0.00) 0.14Cash Flow from operating activities 1,989 10,454 20,071Cash Flow from financing activities 70,017 3,945 1,618Cash Flow used in investing activities (19,037) (47,781) (22,681)Net increase (decrease) in cash 52,969 (33,382) (993)----------------------------------------------------------------------------Total cash resources 87,902 39,954 37,676Other Current Assets 22,964 22,976 20,378Current Liabilities 69,543 63,060 23,478Working Capital 41,323 (130) 34,576Total Assets 431,707 364,495 258,543Total Liabilities 191,813 123,669 27,942----------------------------------------------------------------------------Weighted average number of shares outstanding 70,150,912 70,150,912 69,904,111Dividends per share NIL NIL NIL----------------------------------------------------------------------------
About the Company
Kirkland Lake Gold's corporate goal is to create a self-sustaining and long-lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years for as long as practicable.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company 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, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's corporate mineral resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life,, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2012 filed with the securities regulatory authorities in certain provinces of Canada and available 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 except as otherwise required by applicable law.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
+1 705 567-5208
+1 705 568-6444 (FAX)
bhinchcliffe@klgold.com
Kirkland Lake Gold Inc.
Lindsay Carpenter
Director of Investor Relations
+1 416-840-7884
+1 705 568-6444 (FAX)
lcarpenter@klgold.com
www.klgold.com
NOMAD: Panmure Gordon (UK) Limited
Callum Stewart
+44 (0) 20 7 8862500
callum.stewart@panmure.com
NOMAD: Panmure Gordon (UK) Limited
Adam James
+44 (0) 20 7 8862500
adam.james@panmure.com
