Media Room

CEO says Kirkland can cut costs after Detour deal

Kirkland Lake Gold CEO Tony Makuch was quick to assuage investors that the planned C$4.9-billion acquisition of Detour Gold Corp. won’t boost the company’s cost after shares tumbled.

Shares of Canada’s Kirkland Lake slumped 16%, poised for the biggest decline since July 2015, after announcing an all-share deal to buy Detour Gold, which operates the Detour Lake mine in Ontario.