Page 12 Contd on pg 13 B y K e vin V inc en t W ell tha t se eme d pa inless No w the do wn and dir t y w or k of mer g ing cultur es and cr ea ting syn er g ies beg ins f or the new K ir k land Lake G old B y the numbers it looked like this 155221082 K ir k land Shar es r ep r esen ting 7405 of the issued and outstanding K ir k land Shar es as a t the r ec or d da t e w er e v ot ed a t the c ompan y s special meeting Januar y 28th and the K ir k land shar eholder r esolution w as appr o v ed b y ap pr o xima t ely 9899 of v ot es cast b y shar eholders either in person or r ep r esen t ed b y pr o x y a t the meeting I n addition t o the appr o v al b y K ir k land Lake G old shar eholders D et our G old shar eholders appr o v ed the ar r angemen t a t its o wn special meet ing T on y M ak uch P r esiden t and Chief Ex ecutiv e O fc er of K ir k land Lake G old c ommen t ed W e ar e pleased tha t our shar eholders ha v e v ot ed o v er whelmingly in suppor t of our ac quisition of D et our G old Onc e c omplet e the tr ansac tion will cr ea t e a highly c ompetitiv e truly unique c ompan y in the gold mining indus tr y B y c ombining D et our Lake with our M acassa and F ost er ville mines w e will ha v e thr ee c or nerst one as sets in our t w o c or e jur isdic tions of C anada and A ustr alia all thr ee of which possess fr ee cash fo w gener a ting oper a tions sig nifcan t inmine g r o wth pot en tial and c onsider able r eg ional e xplor a tion upside T he new K ir k land Lake G old will be an industr y leader in pr oftabil it y cash fo w gener a tion and cash r esour c es Giv en our sig nifcan t f nancial str ength w e will bec ome incr easingly ac tiv e o v er the ne x t y ear r epur chasing our shar es and g r o wing our quar t er ly dividends Under our nor mal c ourse issuer bid NCIB w e ha v e the abilit y t o r e pur chase up t o 10 of our c ommon shar es in the public foa t with r e maining capacit y under our cur r en t NCIB f or futur e r epur chases of up t o 20 million shar es A s w e c on tinue t o gener a t e fr ee cash fo w both the NCIB and dividend will be impor tan t t ools used t o pr o vide a ttr ac tiv e r e tur ns t o shar eholders I n a new s r elease a t the time of the ac quisition announc emen t in 2019 M ak uch said the ac quisition of D e t our G old is an e x c ellen t ft f or KL G old W e ha v e alr eady taken t w o min ing oper a tions M acassa in K ir k land Lake On tar io and F ost er ville in V ic t or ia S ta t e A ustr alia and tr ans f or med them in t o high qualit y as sets tha t gener a t e industr y leading ear nings and fr ee cash fo w T he addition of D et our Lake pr o vides an oppor tunit y t o add a thir d c or nerst one asset tha t is loca t ed in our back y ar d in Nor ther n On tar io said the P r esiden t and CEO D et our Lake will pr o vide the pr o f or ma c ompan y with a 20plus y ear mine lif e which pr o vides unpar al leled optionalit y and ac c or ding t o M ak uch e x c ellen t g r o wth pot en tial f or the beneft of all shar eholders T he managemen t t eam a t D et our G old has done an e x c eptional job in mak ing impr o v emen ts and building momen tum a t the mine Onc e the T r ansac tion is c omplet ed w e will c on tinue ef or ts t o optimiz e cur r en t oper a tions and c ommenc e eng ineer ing w or k t o ev alua t e e x pansion oppor tunities a t D et our Lake which w e an ticipa t e c ould lead t o sig nifcan t pr oduc tion g r o wth impr o v ed unit c osts and higher lev els of miner al r eser v es and miner al Kir k land L ak e G old t ak es a Det our Page 13 Contd from pg 12 r esour c es said M ak uch W hile the mar kets r eac t ed nega tiv e ly shor tly af t er the announc emen t the st ock dipped t o 5197 CDN it r ebounded back t o just o v er 55 shar e T ha t r ebound w as likely buo y ed b y c ommen ts made b y high pr ofle gold in v est or Er ic Spr ott who t old the F inancial P ost shor tly af t er the st ock pr ic e dipped tha t he believ ed KL G old w as st ealing v alue D et our r epor t ed allin sustaining c osts of 1198 in the thir d quar t er of 2019 while K ir k land r epor t ed all in sustaining c osts of 562 about half of tha t A little mor e than a y ear ago ear ly D ec ember 2018 D et our G old C or por a tion st ock w as ho v er ing ar ound 10shar e est a t a time when other in v est ors w aged a highly public ba t tle f or c on tr ol of the gold mine M ost of D et our s boar d of dir ec t ors w er e tur f ed dur ing the ba ttle Sinc e then the c ompan y s st ock has r isen t o as much 2545 a t the time of pr in ting F or his par t M ak uch is highly en thusiastic about the ac quisition of D et our A n y mine e xpansions w ould be selffnanc ed M ak uch said He def ended the tr ansac tion pr emium and cit ed pot en tial t o boost annual e xplor a tion spending t o 40 million per y ear C ost cutting and efciencies ar e e x pec t ed t o take plac e o v er 24 mon ths On c ompletion K ir k land Lake G old and D et our G old shar eholders will o wn about 73 and 27 r espec tiv ely of the mer ged c ompan y I n the in t er im D et our ended 2019 on a high not e ac c or ding t o c ompan y ofcials M ick M cM ullen P r esiden t and Chief Ex ecutiv e O fc er sta t ed I m v er y pleased t o see a substan tial r educ tion in our injur y r a t e o v er the past y ear which r efec ts all of the har d w or k tha t s being put in b y our emplo y ees and c on tr ac t ors t o keep our people saf e He added tha t the g r ea t saf et y r esult w as ma t ched b y str ong pr oduc tion f or the y ear wher e a t 601566 ounc es D et our G old deliv er ed in the t op quar tile of its up w ar dly r evised guidanc e r ange f or ounc es of gold pr oduc tion O ur cash gener a tion w as e x c ellen t as w ell W e impr o v ed fr om a net debt o ve r Det our ac quisition Contd on pg 14 T on y M akuch enth usiastic