Clayton Utz advises Canada's Kirkland Lake Gold Inc. on ASX debut

04 Dec 2017

Perth, 4 December 2017: A Clayton Utz team has advised Toronto and New York stock exchange-listed Canadian gold producer Kirkland Lake Gold Inc. (Kirkland Lake Gold) on its listing on the Australian Stock Exchange (ASX) effective 30 November 2017 - the largest company by market capitalisation to list on the ASX in 2017. 

Perth-based partner Brett Cohen and special counsel Liz Humphry led the firm's advisory team, which included lawyers Milana Drca and Georgia Denny. 

Kirkland Lake Gold's flagship Australian asset is the high-grade, low-cost Fosterville gold mine located near Bendigo, Victoria. The company also has gold mining and exploration interests in the Northern Territory and in Western Australia (as an investor in Novo Resources). In Canada, it owns the high-grade, low-cost Macassa Mine located in northeastern Ontario. 

The company’s 30 November listing marks the one-year anniversary of its merger with TSX-listed Newmarket Gold, Inc. Clayton Utz also advised Kirkland Lake Gold on this merger where the company acquired its Australian assets. 

Clayton Utz partner Brett Cohen said: “We are really grateful to have been given the opportunity by Kirkland Lake Gold to advise on its ASX listing.  At approximately C$3.84 (or A$3.93 billion), it has the distinction of being the largest company by market capitalisation to list on ASX this year.” 

The president and CEO of Kirkland Lake Gold, Tony Makuch, said in a media statement that the listing reflects the company's long-term commitment to Australia as one of its two core markets. From 105,000 ounces of gold in 2014, the Fosterville mine is expected to produce closer to 250,000 ounces this year, and potentially 400,000 ounces of gold by 2020.

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