KIRKLAND LAKE GOLD (KGILF $2.70, rated Overweight $12.50 price target) COVERAGE INITIATED AT OVERWEIGHT INVESTMENT RATING BASED ON ESTIMATED GOLD OUTPUT GAINS AND CASH FLOWS 1/16/2014

KIRKLAND LAKE GOLD (KGILF $2.70, rated Overweight $12.50 price target)
COVERAGE INITIATED AT OVERWEIGHT INVESTMENT RATING BASED ON
ESTIMATED GOLD OUTPUT GAINS AND CASH FLOWS 1/16/2014