Sitting on a Pile of Cash 2.0? Gold Mitigates Risk

$XAU $KL

A quality gold mining stock is an easy entry into the gold market.

Kirkland Lake Gold Ltd. (NYSE:KL) is a Canadian HQ’d gold producer with Key operating mines located in Canada and Australia: Detour Lake, Fosterville and Macassa. It also owns and operates the Holt Complex, which includes 3 wholly owned mines and several assets in the Northern Territory of Australia.

In Y 2019, the company produced 974,615 oz of gold at operating cash cost and all-in sustaining cost of 284 and 564 oz, respectively. That compares to the current spot price of 1,728.

KL finished Monday at 40.92, it has Strong Support at 39.46, and Key Resistance at 43.28, a break over that mark augers a move to 50+.

Our overall outlook is Bullish with a Very Bullish bias in here.

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as 3 milling facilities in Canada and Australia.

The company was formerly known as Newmarket Gold Inc. and changed its name to Kirkland Lake Gold Ltd. in December 2016.

Kirkland Lake Gold Ltd. was incorporated in Y 1983 and is HQ’d in Toronto, Canada

Have a healthy day, Keep the Faith!

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