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Gold/Mining/Energy : KirklandLake/Newmarket

KL 38.92

-0.2%

Feb 8 4:00 PM EST

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From: PulpCutter	9/5/2017 11:59:58 AM
	of 28

MarketWatch: KL buys another 10% of Novo, at $4/share, for $56M Canadian, with option to increase to 25.5% ownership with non-dilution agreement. marketwatch.com Tony Makuch , President and CEO, of Kirkland Lake Gold , commented: "Our investment in Novo is an important part of our strategy to grow and enhance the value of our Australian franchise, which currently includes large land positions in Victoria and the Northern Territory, and production from our high-grade Fosterville Gold Mine . Investing in Novo will provide our company with exposure to highly prospective exploration targets in the Pilbara Region of Western Australia , including the Karratha Gold Project , where recent exploration results have been very encouraging and suggest that the property may be host to a large gold system with significant potential for profitable, long-life production. The investment we are making will support an acceleration of exploration programs at Karratha and other key projects within Novo's portfolio."

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