PERTH (miningweekly.com) – Gold producer Kirkland Lake will next month suspend operations at its Cosmo mine, in the Northern Territory, to allow for a review and more exploration.
President and CEO Tony Makuch this week told shareholders that the temporary suspension would allow the company to conduct a review of the operations, and to obtain a better understanding of near-mine exploration targets, including the newly discovered Lantern deposit, to support future profitable organic growth.
Kirkland will also focus its exploration campaign on advanced regional targets.
The mine will be maintained in a state of readiness to allow operations to restart once exploration, resource definition and the development planning phase have been completed.
As a result of the suspension of operations at Cosmo, the mine will only contribute 20 000 oz to Kirkland’s full-year production rather than the previously guided range of 60 000 oz to 65 000 oz.