LONDON (ShareCast) - Kirkland Lake Gold director George Milton has dug deep and spent more than £½m on shares in the Canada based mining company.

He bought 150,000 shares at $7.20 (355p) each, taking his stake to 2.17m shares, or 3.9% of the business.

That was not enough to save the shares though, as investors focused on a drop in the price of gold to an eight-week low of $862 an ounce. The dollar’s rally versus the euro made the yellow metal less attractive.

Last month, Kirkland narrowed full-year losses to C$3.35m from C$8.38m a year earlier on revenues up to C$41.44m from C$36.66m.

Gold production for the coming fiscal year is expected to be in the range of 58,000 to 62,000 ounces, the group added.


Top Director Buys

Kirkland Lake Gold (KGI)
Director name: Mr George A Milton
Amount purchased: 150,000 @ 355.38p
Value: £533,070

Eastern Platinum (ELR)
Director name: Mr David Cohen
Amount purchased: 100,000 @ 100.53p
Value: £100,530

Fiberweb (FWEB)
Director name: Mr Richard Stillwell
Amount purchased: 40,000 @ 43.50p
Value: £17,400

DSG International (DSGI)
Director name: Mr Andrew Lynch
Amount purchased: 20,000 @ 50.00p
Value: £10,000

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