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Kirkland Lake Gold (TSX:KGI)(AIM:KGI) an operating and exploration gold mining company located in Ontario, Canada, announced on Monday that a seasonal forest fire that started on Sunday passed nearby the company’s property and mill, but that there was no damage to company assets.
However, a short section of the power line feeding the mill and the three shaft complex was damaged by the fire, the company said in a statement, and employees were evacuated. All production activities are halted until power is restored.
Shares in the company lost 1.6% on the London stock exchange on Monday. The Toronto bourse, where Kirkland Gold is valued at $723 million, was closed due to a public holiday.
Kirkland Lake Gold purchased the Macassa Mine and the 1,450 ton per day mill along with four former producing gold properties – Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves – in December 2001. These properties, have historically produced approximately 22 million ounces of gold.
