An emerging intermediate Gold producer with an interesting chart is Kirkland Lake Gold (KGI, TSX) which closed Friday at $18.78 for a total market cap of approximately $1.3 billion. That may seem high for a company expected to produce only 110,000 to 130,000 ounces of Gold in its current fiscal year ending April 30, 2012, but KGI is sitting on substantial proven and probable reserves (1.5 million ounces) in addition to M&I and inferred resources (1.3 million and 1 million ounces, respectively) in a rich historic camp (nice grades) that could produce fresh discoveries (see company’s April 5 news release). The fact the KGI chart looks so strong bodes very well for the price of Gold.
Note: John, Jon and Terry do not hold positions in KGI.
