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Title : Kirkland Lake (KL) has been decimated by Detour Lake sellers
link : Kirkland Lake (KL) has been decimated by Detour Lake sellers

Kirkland Lake (KL) has been decimated by Detour Lake sellers

Do not say IKN didn't try to warn you.

The day after the deal was announced (and with $2Bn already wiped off the fantasy of a ticket price), IKN published "The chilling effect of this ill-conceived Kirkland Lake $KL Detour Gold $DGC.to deal is bad news for the mining sector" which included this:

"What we have witnessed yesterday and today is the destruction of goodwill at KL, over $2Bn in bets that "this time is different" and KL would remain a low cost, high margin producer have all lost. Money, by the way, that only ever existed in the imagination of KL longs who fell for the ruse. Welcome to reality people, KL yesterday stated for the record that its future is the same mediocrity as every Tier 1 mining company."

In the post "Makuch's bullshit on Detour", dated November 28th, this:

"...double-talk from a weak puppet of a CEO who does not have executive control of the company he pretends to run that has annoyed people who like money more than gold. And that's the worst part of the words that tumbled out of his mouth, as he knows it's a lie, the reporter knows it's a lie and anyone with an inkling of the sector knows it, too. All Makuch is doing is giving a nod and a wink to his owner, John Paulson. Plus the fact that the whole "will/won't it close?" question is a false dilemma, ain't no way this deal is voted down."

In the post Kirkland Lake (KL): "Money talks and BS walks" dated December 13th, this:

"All the column inches in the world can't disguise the bloated wankery behind this deal, Paulson wants his print and the DGC BoD get their juicy change of control bonuses. And the mining industry stubbornly refuses to grow up. And if the biggest and splashiest deal of the year is based on scratch-back dealmaking, may the good Lord help the rest of them."

John Paulson has played Kirkland Lake (KL) and its shareholders like Itzhak Perlman plays the violin.

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