09:40 AM EST - Kirkland Lake Gold Inc. : reports fourth-quarter gold production rose 102% to 20,411 ounces from 14,089 ounces in 2008, due to increased production from the South Mine Complex. Ounces sold in the fourth quarter increased 80% to 16,045 generating $18.2 million in revenues, $2.3 million of net income and $2.2 million in operating cash flow. Fiscal 2009 loss widened to $10.48 million or $0.19 per share from $3.35 million or $0.06 per share in the year-ago period. Revenue for the fiscal year 2009 was up 5% to $43.54 million from $41.44 million in the comparable period. In addition, Kirkland Lake stated that the ounces produced in the fourth quarter and not sold, will be sold in the first quarter of fiscal 2010. Kirkland Lake Gold Inc.
shares T.KGI are trading even at $8.06.
