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Last $0.94 USD
Change Today -0.0143 / -1.50%
Volume 404.3K
As of 4:15 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

lake shore gold corp (LSG) Snapshot

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08/8/14 - $1.28
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lake shore gold corp (LSG) Details

Lake Shore Gold Corp., a gold mining company, engages in the acquisition, exploration, and development of gold properties in Canada. It also explores for silver ores. The company’s principal properties include the Timmins West Complex, which covers an area of approximately 130 square kilometers located in Timmins, Ontario; Bell Creek Complex that covers an area of approximately 32 square kilometers situated in Timmins, Ontario; and Fenn-Gib, which consists of 171 mining claims, patents, and leases covering approximately an area of 29 square kilometers. Lake Shore Gold Corp. was founded in 2002 and is headquartered in Toronto, Canada.

lake shore gold corp (LSG) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$660.0K
Chief Financial Officer and Senior Vice-Presi...
Total Annual Compensation: C$310.0K
Senior Vice President of Exploration
Total Annual Compensation: C$300.0K
Vice President, General Counsel and Corporate...
Total Annual Compensation: C$250.0K
Vice President of Finance
Total Annual Compensation: C$229.0K
Compensation as of Fiscal Year 2014.

lake shore gold corp (LSG) Key Developments

Lake Shore Gold Corp. Announces an Expanded Exploration Program at 144 Gap Zone

Lake Shore Gold Corp. announced an expanded exploration program at the 144 Gap Zone, the launch of a new program to explore the 144 Trend to the southwest towards the 144 North and 144 South areas, as well as the addition of a new underground exploration program at the Bell Creek Complex. The new work at 144 is expected to add $7.0 million to the company's exploration expenditures in 2015, while the additional drilling and development at Bell Creek will involve approximately $6.0 million of new expenditures. At 144, the 60,000 metres of new drilling will include approximately 50,000 metres of surface drilling and 10,000 metres of drilling from underground. The company also plans to undertake a new surface geophysical exploration program. The current program at 144 involves a combined total of 120,000 metres of diamond drilling, 90,000 metres from surface and 30,000 metres from underground, and the excavation of a 1,200 metre underground exploration drift to provide a drill platform. To date, approximately half of the 90,000 metre surface drilling program has been completed, with the underground exploration drift having advanced approximately 450 metres. Of the new surface drilling metres at 144, 5,000 metres will focus on extending and expanding the 144 Gap Zone dicovery, a large zone of gold mineralization identified to minimum dimensions of 400 metres along strike and 400 metres down dip. The remaining 45,000 metres will be directed along the 144 Trend towards 144 North and 144 South, both highly prospective exploration targets. Total surface drilling at 144 in 2015 is now expected to total approximately 140,000 metres. The new surface geophysical program will include surface and borehole geophysical surveys to be completed southwest of the 144 Gap Zone as well as on the western extension of the Gold River Trend, another highly prospective exploration target. The new underground drilling at the 144 Gap Zone will increase the 2015 underground drilling program from 30,000 metres to 40,000 metres. The additional drilling is a result of the success of recent surface drilling in identifying a zone of gold mineralization that is larger than envisioned in the original underground program. The 10,000 additional metres is also intended to increase the proportion of measured and indicated resources to be included in the first resource estimate for the 144 Gap Zone, to be released as part of the Company's next reserve and resource update early in 2016. Of the increased drilling and development at Bell Creek, 15,500 metres of drilling and 150 metres of development are designed to accelerate exploration and the conversion of resources to reserves between the 775 and 1100 levels. An additional 17,000 metres of drilling and 650 metres of development will focus on upgrading inferred resources, exploring for new resources below the 1100 Level and for new discoveries.

Lake Shore Gold Corp. Announces Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Fiscal 2015

Lake Shore Gold Corp. announced consolidated earnings and operating results for the first quarter ended March 31, 2015. For the first quarter, the company recorded revenues of $79.1 million against $61.46 million a year ago. Earnings from mine operations were $23.345 million against $14.289 million a year ago. Net earnings were $12.066 million against $4.587 million a year ago. Basic net income per share was $0.03 against $0.01 a year ago. Cash flows from operating activities was $35.855 million against $24.928 million a year ago. Cash earnings from mine operations were $45.832 million against $31.881 million a year ago. Adjusted net earnings were $11.102 million against $5.463 million a year ago. Adjusted net earnings per share were $0.03 against $0.01 a year ago. For the first quarter, the company reported tonnes milled were 299,900 against 283,800 a year ago. Grade was 5.7 against 5.1 a year ago. Average mill recoveries were 96.7% against 96.6% a year ago. Ounces recovered were 53,000 against 44,600 a year ago. Ounces poured were 52,000 against 45,700 a year ago. Ounces sold were 52,600 against 43,000 a year ago. Average price was $1,219 per oz against $1,294 per oz a year ago. Average price was $1,504 per oz against $1,430 per oz a year ago. Following completion of first quarter of 2015, the company is well positioned to achieve its 2015 production and cost targets and to finance its operating, capital investment and debt repayment and servicing requirements over the balance of the year. Ounces produced was 170,000 - 180,000, cash operating costs was $650 - $700 per oz, all-in sustaining costs was $950 - $1,000 per oz and total production costs was $125.0 million.

Lake Shore Gold Continues to Intersect Significant Gold Mineralization at 144 Gap Zone, Extends Zone Along Strike and Towards Surface

Lake Shore Gold Corp. announced results from an additional 22 drill holes and five wedge holes, involving 29,089 metres of drilling, at the company's 144 Exploration Area. 144 is located immediately southwest of the Timmins West Mine Thunder Creek Deposit and covers about 4.0 kilometres of the same volcanic/ultramafic, intrusive/sedimentary contact that hosts both Thunder Creek and Timmins Deposit. The current drill program, launched in August 2014, is largely focused on the area immediately adjacent to Thunder Creek, where a new discovery was announced in October 2014. Six holes and three wedge holes (Hwy-15-90, 91, 94, 97, 98, 102, 48W2, 52W1 and 52W2) tested near the current western limit of the 144 Gap Zone. Results from the holes confirm the presence of a wide, high-grade core and expand both the Zone and the high-grade core by a minimum of 50 m westwards. Significant new intercepts being reported include: 5.74 gpt over 55.0 m, including 11.79 gpt over 21.1 m, 4.87 gpt over 22.3 m and 6.52 gpt over 4.4 m from Hwy-14-48W2, 8.14 gpt over 15.10 m, 3.28 gpt over 44.0 m from Hwy-14-52W2, 8.40 gpt over 9.0 m and 3.63 gpt over 8.5 m from Hwy-15-94 and 4.75 gpt over 10.2 m, 4.11 gpt over 9.0 m, 3.93 gpt over 8.5 m, 10.30 gpt over 2.0 m and 13.46 gpt over 2.3 m from Hwy-15-90. An additional six holes and one wedge hole (Hwy-15-87, 95, 99, 100, 105, 106 and 87W1) from the new program were drilled to test mineralization near the previous upper limit of mineralization and extended the zone by a minimum of 50 m up dip of previous results to within 600 m of surface. Key intercepts include: 8.81 gpt over 8.2 m, 15.95 gpt over 4.9 m and 5.09 gpt over 17.5 m from Hwy-15-106, 7.94 gpt over 8.60 m, 6.23 gpt over 11.2 m and 4.70 gpt over 6.6 m from Hwy-15-87W1, 7.74 gpt over 4.0 m, 3.63 gpt over 14.5 m, 30.91 gpt over 2.3 m and 3.11 gpt over 31.0 m from Hwy-15-87, 4.76 gpt over 7.0 m from Hwy-15-95 and 7.95 gpt over 2.9 m and 9.10 gpt over 2.60 m in Hwy-15-99. Ten holes and one wedge hole (Hwy-15-83, 85, 86, 88, 89, 92, 93, 96, 101, 103 and 63W1) were drilled towards untested gaps located to the northeast of the thick, high-grade core and encountered several new zones. Among significant results were 5.40 gpt over 12.9 m and 4.02 gpt over 5.6 m in Hwy-15-89, 8.83 gpt over 6.1 m and 5.0 gpt over 4.4 m from Hwy-15-83, 3.39 gpt over 15.9 m and 9.24 gpt over 3.7 m in Hwy-15-88 and 5.28 gpt over 5.0 m from Hwy-15-103. Recent interpretations continue to suggest that the mineralization at 144 Gap is contained within a broad zone of hydrothermal alteration and deformation measuring up to 100 m wide and closely associated with syenite intrusions, quartz veining, pyrite, scheelite and/or galena and multiple occurrences of visible gold. Some of the best mineralization identified to date is contained in a thick, high-grade core located near the current west limit of drilling. As a result of the new drill results, the minimum dimensions of the 144 Gap Zone have been extended to 400 m of vertical height and 400 m of strike length. Minimum dimensions for the thick, high-grade core are estimated at 300 m in vertical height, 50 to 125 m in width and 75 to 125 m in strike length. The overall mineralized system is interpreted to have a moderate to steep easterly plunge. Holes Hwy-15-91, 97, 98 and 102 are believed to have passed below the lower plunge limit for the thick, high-grade core zone and Hwy-15-85, 86, 92, 93, 105 and 63W1 passed above the upper plunge limit. Hwy-15-96 and 101 intersected a thick diabase dike at the projected zone location.


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