The operations side of Kirkland Lake Gold is one side of the story. However we should concentrate on the financial and executive side of KGI to determine the real problems here. Mr. Hinchcliffe's salary should be justified in the face of current corporate failures, and the huge overhead of management and support staff of a company which merely extracts stuff from the ground and processes it. All you need to run a company like this is a hut with a telephone and an e-mail address.
The recent announcement of an 'underwriting' of a 'private placement' deal is highly questionable.
CIBC will neither confirm nor deny that KGI is a client of their wholesale banking division. As this fact cannot be confirmed or denied, it is not falsifiable, so it does not appear as a 'theory' let alone a material fact.