We don't know what as government is going to lift the restrictions, we don't know what's coming on. Kirkland Lake Gold reports that at the annual general and special meeting of shareholders held on June 30, 2020, all resolutions proposed to shareholders were duly passed. I know we're not as organized or as maybe as sexy sometimes you see some of these conference calls and video calls that's going on, on TV. When we discuss COVID-19, we don't talk about returning to normal because we are not sure what normal will be in the future. Some investment opportunities are limited to accredited investors. We'll continue to update the market as developments occur and as we continue to progress our operations and ramp up. We don't know where things are going to happen. Pretty exciting in terms of some of the developments there at Macassa. Gold sales at Detour Lake were just over 110,000 ounces. But I would say that we're really working toward probably by Q4 of this year to really have that something solid out there. We're trying to take the position on what we see and what is the work we're doing and what do we see as a long-term sustainable future there than what we have. Morningstar Quantitative ratings for equities (denoted on this page by
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Before we get started, I would like to draw your attention to slide two for our forward-looking statement disclosure.
And then in terms of the Main Break, we had one more new hole and 15 others that were not previously reported that we now interpret as part of a new high-grade corridor. On February 20, we designated our Holt Complex and assets in the Northern Territory. And we don't know what's going to happen in the third, fourth quarter, depending on how this progresses. Additional to this, the section also provides another view of the new high-grade intercept in hole number 4052, which is located near the 6,800 level or 300 meters below the deepest level at Kirkland Minerals. I'll be starting on slide 10. I appreciate we're all in different home offices and scattered across the province of Ontario, right?Great. We maintained our industry-leading financial strengths, and we also returned capital to shareholders, probably the highest level of capital return to shareholders in a quarter and anyone in our industry. Northern Territory, sorry, is noncore. We also excavated and equipped the 1,540 level station. Could you provide some additional detail on what you expect the steady-state sustaining capital and unit cost expectations to be once the project is ramped up and maybe based on the old study and what the opportunity could be from what the discussion was earlier this call about potential improvements?Yes. Turning to slide 13. We will issue guidance for the year as we make progress toward moving Detour Lake and Macassa toward more predictable levels of production. Other significant uses of cash in the quarter included about $110 million of capital expenditures, about $90 million of which was sustaining. We also suspended all nonessential activities across the company, which basically any capital project and/or any exploration project that was not critical to the production in the current year. Or is it overall?I think it's already I don't think I noted, it's overall, Cosmos. The last key development I'll mention for the quarter involves the noncore assets.
The grade in Q4 reflected sequencing in the Swan Zone as well as some grade outperformance during the quarter. But I think, Tony, you explained it well in terms of sort of what's happening. The increase related to the 77 million shares we issued for the Detour transaction on January 31 partially offset by the 9.7 million shares we repurchased in Q1. After submitting your request, you will receive an activation email to the requested email address. It has it brings a little bit more production into potentially 2022 than we had in our plan. Please go ahead, your line is open.Hi, thanks for taking my questions. Net earnings totaled $202.9 million or $0.79 a share. Is there anything specific you are looking for before you get comfortable in providing 2020 guidance? Thank you, operator, and thanks, everyone, for participating in our call today. And the other part is, I think the with knowledge of people at Kirkland Lake Gold, we had a definitely a pretty solid quarter in Q1 2020 and a lot of adversity, but you can see where quality people rise to the occasion. We also stopped most exploration work not required for this year's production.We have now returned resumed work on these projects as well as others, and we'll be ramping up phases. It also lead led to the suspension of key projects, as I mentioned earlier, such as the shaft, the surface ramp at Macassa and the ventilation project at Fosterville. So we're we've got a plan, and we got ideas of what we're doing. Finally, I'll point out that all figures today are in U.S. dollars unless otherwise stated.With that, I'll call on Tony Makuch, President and CEO of Kirkland Lake Gold.Okay. Today, I'll provide an update. And a lot of our suppliers and third-party contractors as well, we see there's a lot of quality people in this industry. So we're not really ready to execute what it is, but there will definitely be no cost overrun on that shaft. If you experience any issues with this process, please contact us for further assistance.GROWING LOW-COST GOLD PRODUCTION (2020 guidance: 1,350,000 – 1,400,000 ozs)SIGNIFICANT EXPLORATION POTENTIAL AND ORGANIC RESERVE GROWTH