Kirkland Lake Gold Inc. was a Canadian gold mining company based in Toronto. It owned and operated several gold mines in Canada and Australia before its merger into Agnico Eagle in 2021.[1]
History
The company was founded in 1988 as Goldpac Investments. Between 1994 and 1999, it operated as Brimstone Gold Corp., a consulting and investment company in the gold mining industry. The company was renamed Foxpoint Resources Ltd. as it sought to acquire and develop its own gold mining property.[2]
In 2001, the Vancouver-based Foxpoint Resources purchased several mining properties from Kinross Gold around Kirkland Lake, Ontario. The $5 million purchase included several former mines: Macassa Mine, Lakeshore Mine, Wright Hargreaves and Teck Hughes.[3] The company renamed itself again as Kirkland Lake Gold and re-commissioned the underground Macassa Mine. As it continued new exploration, it was able to begin extracting gold from the mine in 2003.[4][5]
Kirkland Lake Gold focused on developing its Macassa mine until 2015 when it acquired St. Andrew Goldfields with its three mines (the Holt Complex) about 100 km from Kirkland Lake, in an all-stock deal worth $178 million.[6][7]
On the Toronto Stock Exchange, Kirkland Lake Gold was promoted to the S&P/TSX 60index effective September 23, 2019.[11] Within a few months, the company acquired Detour Gold in a $4.9-billion purchase.[12]
In February 2022, Kirkland Lake Gold merged with Agnico Eagle Mines Limited in an all-stock deal with Kirkland's stocks being delisted.[13]
Carbon footprint
Kirkland Lake Gold's Total CO2e emissions (Direct + Indirect) (in kilotonnes)
^Owen, Rick (February 18, 2002). "Lots of potential: Foxpoint geologist feels high-grade discoveries are still possible". Northern Daily News. Cobalt, Ontario. p. 1.
^Wilkinson, Jeff (September 5, 2001). "B.C. company to re-open Macassa mine". Daily Press. Timmins, Ontario. p. 2.
^Owen, Rick (January 8, 2003). "Kirkland Lake company pulls first gold from mine". Sudbury Star. Sudbury, Ontario. p. A2.
^"Kirkland Lake boosts Ontario estimates". The Globe and Mail. August 19, 2003. p. B7.
^Owen, Rick (November 18, 2015). "KL Gold buys St. Andrew; Deal creates multi-asset Ontario-focused gold producer". Northern News. Kirkland Lake, Ontario. p. 1.
