Tony Makuch President and CEO recently commented."Kirkland Lake Gold has established a solid track record for creating shareholder value, with our share price increasing over 500% since the beginning of 2017. The keys to achieving superior returns have been strong operating results, industry-leading and cash flow generation and growth, ongoing exploration success, and a commitment to directly rewarding shareholders for their commitment to our company. We introduced a quarterly dividend in March 2017 and have since increased it four times. In May 2017, we launched an NCIB program and, since that time, have repurchased over seven million shares. The NCIB is an important component of our value creation strategy as the repurchase of shares provides a permanent favourable impact to and cash flow per share metrics. Given the significant potential upside we see in our current share price, based on our expectation for continued strong operating and financial results, as well as the substantial exploration potential we have at Fosterville, Macassa and other targets, we plan to use the NCIB over the next year to support continued value creation."
Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the "Company") ( KL ) KL , -2.74% (asx:KLA) is pleased to announce that it has received acceptance from the Toronto Stock Exchange (the "TSX") to renew its normal course issuer bid ("NCIB"). The NCIB allows Kirkland Lake Gold to purchase up to 20,989,692 common shares of the Company (the "Shares"), representing 10% of the current issued and outstanding Shares in the public float as of May 22, 2019. As at May 22, 2019, the Company had 210,011,669 Shares issued and outstanding.
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