Northwire Canada EditionThursday, September 17, 2026
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GOLD 4399.70 +0.3% SILVER 66.09 +1.8% COPPER 6.66 +2.3% OIL 101.91 −0.5% PALLADIUM 1303.10 −0.8% PMI 0.700 +2.9% KLDC 0.420 +13.5% NGEX 24.98 +3.1% OMG 2.60 +2.8% AAUC 30.07 +2.7% TAJ 0.180 +5.9% FF 0.900 +1.1% RM 4.12 +9.3% BEA 0.055 +22.2% MKA 0.820 +6.5% MOLY 1.55 +1.3% EMPR 0.895 +0.0% PEAK 0.400 +0.0% CBLT 0.050 +0.0% SHL 0.425 +6.2% FDR 5.84 +3.4% GOLD 4399.70 +0.3% SILVER 66.09 +1.8% COPPER 6.66 +2.3% OIL 101.91 −0.5% PALLADIUM 1303.10 −0.8% PMI 0.700 +2.9% KLDC 0.420 +13.5% NGEX 24.98 +3.1% OMG 2.60 +2.8% AAUC 30.07 +2.7% TAJ 0.180 +5.9% FF 0.900 +1.1% RM 4.12 +9.3% BEA 0.055 +22.2% MKA 0.820 +6.5% MOLY 1.55 +1.3% EMPR 0.895 +0.0% PEAK 0.400 +0.0% CBLT 0.050 +0.0% SHL 0.425 +6.2% FDR 5.84 +3.4%
Financings Routine +

Kirkland Lake Discoveries Corp. Announces Brokered Private Placement

Kirkland Lake Discoveries raised $15 million to fund drilling at its Mirado and KL West projects.

By The Northwire Desk — AI Analysis Sep 17, 2026 · 16:33 KLDC · 0.42 Kirkland Lake Discoveries Corp.
Executive Summary

Kirkland Lake Discoveries Corp. announced a brokered private placement of up to $15,000,000 in gross proceeds, with Canaccord Genuity Corp. acting as the agent on a "best efforts" basis. The offering is structured in three tiers: Flow-Through Shares (FT) at $0.40, Special Flow-Through Shares at $0.483, and Non-Flow-Through Common Shares (HD) at $0.35.

Proceeds are allocated as approximately $10,000,000 from FT and Special FT shares for eligible Canadian exploration expenses, and approximately $5,000,000 from HD shares for general corporate purposes. The company covenants to incur and renounce flow-through expenditures by December 31, 2027, with an effective date no later than December 31, 2026. Closing is expected on or about October 8, 2026, subject to TSX Venture Exchange approval.

Securities carry a four-month-and-one-day hold period. The company provides indemnification to subscribers if expenditures are not renounced on time or are reduced by the Canada Revenue Agency.

Material Impact

The financing represents an expected, incremental step consistent with Kirkland Lake Discoveries Corp.’s historical pattern of raising capital to fund its 25,000-meter drill program. The pricing was notably above the recent trading range of $0.34-$0.42, indicating strong investor demand and reducing immediate dilution pressure relative to market value. The $15 million injection extends the cash runway by approximately five quarters, directly addressing the cash burn rate of ~$3 million per quarter and mitigating the going concern risk disclosed in the Q2 2026 MD&A. The placement aligns with the company's need to fund ongoing exploration at Mirado and KL West while managing flow-through tax obligations, with no material surprise or deviation from prior expectations.

KLDC · Price
Company Overview

Kirkland Lake Discoveries Corp. holds a 42,000+ hectare exploration portfolio in the Kirkland Lake Camp, Ontario, within the Abitibi Greenstone Belt. The company’s flagship projects include Mirado (KL South) and KL West.

Mirado is a past-producing asset with a historical inferred resource of 10.6 Mt at 1.29 g/t Au (~442 koz). The deposit remains untested below 250 meters and is open in all directions. Recent 2026 drilling has confirmed high-grade, structurally controlled gold mineralization and extended the South and North Zones.

KL West targets dual mineralizing systems, specifically Copper-Rich Massive Sulphides and Intrusion-Related Gold Systems. Drilling has intersected broad zones of intense potassic-hematite alteration and copper-gold mineralization along the Winnie Lake Stock contact corridor.

The company is currently in a district-scale exploration stage with no proven or probable reserves. Management is actively building a 3D geological model to guide future drilling.

Read the original news release →

More from Kirkland Lake Discoveries Corp.

Sep 09, 2026 · 07:01

Kirkland Lake Discoveries identified a narrow, high-grade step-out on the Deep Mirado Fault, though the single-hole intercept likely remains priced into the stock.

Drill Results Sep 02, 2026 · 07:01

Kirkland Lake Discoveries reports a 69.5 m interval at 1.22 g/t gold in the Mirado West zone, expanding the deposit footprint.

Drill Results Aug 26, 2026 · 07:01

Kirkland Lake Discoveries reports moderate-grade width in Mirado step-out drilling with no high-grade repetition.

Drill Results Aug 19, 2026 · 07:01

Kirkland Lake Discoveries reports gold mineralisation in the Mirado step-out hole at 1.2 g/t over 15 metres at the Golden Mile deposit.

Drill Results Aug 18, 2026 · 07:01

Kirkland Lake Discoveries reports non-economic gold intercepts at KL West, providing pathfinder vectors for future exploration targeting.

Drill Results Jul 23, 2026 · 07:01

Kirkland Lake Discoveries expands Mirado with high-grade intersections at depth and in the northwest step-out, though true widths remain undisclosed.

Drill Results