February 10, 2020
“For the best part of 50 years Victoria’s historically rich goldfields have been a basket case, given lack of government support and disastrous big-ticket attempts to revive the underground Bendigo and Ballarat mines. Now, the region is in the midst of a latter-day gold rush”, reports The Australian.
This regional gold revival was headed by Canadian miner Kirkland Lake Gold (TSE:KL | ASX:KLA) that has developed the Fosterville Gold Mine, 25 kilometres from Bendigo, into one of the world’s highest grade, most profitable gold mines.
Fosterville has ore reserves of 2.7Moz at 31 g/t gold and expected production of up to 610,000oz per year over the next couple of years.
Read the full article at Next Investors