Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019, with target production for 2020 of 1,350,000 – 1,400,000 ounces. Our production profile is anchored by three high-quality operations including, the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, Canada and the Fosterville Mine located in the State of Victoria, Australia. All three mines combine free cash flow generating operations, substantial in-mine growth potential and attractive regional exploration upside to drive continued growth well into the future.
Supported by a strong balance sheet, our goal is to increase shareholder value by growing low-cost production at our existing assets, returning capital to shareholders and pursuing new growth opportunities.
A key driver of our success continues to be our commitment to exploration, where we have a solid track record for growing reserves and identifying new areas of high-grade gold mineralization. In support of shareholder returns, we have paid a quarterly dividend since July 2017 and have increased the dividend six times. Additionally, we pursue further value creation by looking to invest in new projects, where our growing capital base and expertise can be deployed to support the development and operation of new, economically attractive gold mines.
Underlying everything we do is a commitment to sustainable production. An important component of sustainability is, at a minimum, replacing the reserves we mine in order to ensure ongoing production, investment and employment. Sustainability also involves achieving high levels of performance in safety, environmental management and community consultation and support. We work diligently with all stakeholders to ensure that Kirkland Lake Gold remains a welcome member of the communities in which we operate.