K92 Mining Inc. reports operating, financial, exploration and development updates tied to the Kainantu Gold Mine in the Eastern Highlands Province of Papua New Guinea. The company produces gold, copper and silver at Kainantu and conducts exploration and development on nearby mineral deposits, including the Kora and Judd systems and the Blue Lake copper-gold porphyry project.
Recurring news covers gold-equivalent production, ore mined and processed, sales volumes, costs, financial results, expansion projects, mine infrastructure, processing capacity, drilling results and operational guidance. Updates also address site construction, fleet and ventilation upgrades, safety matters and conference-call details for periodic results.
K92 Mining Inc. (KNTNF) reported its third quarter financial results for the three and nine months ended September 30, 2022. The company achieved record ore processed at 117,938 tonnes, a 35% increase from Q3 2021, and reported cash costs of US$503/oz gold. Quarter revenue reached US$36.4 million, up 3% year-over-year, with net income of US$3.1 million. A notable cash position of US$106.7 million was reported, alongside significant production of 32,995 oz AuEq. The company also indicated ongoing expansion plans, including the Stage 2A Expansion and a maiden resource estimate at the Blue Lake porphyry project.
K92 Mining Inc. has filed a new Technical Report detailing an Integrated Development Plan for its Kainantu Gold Mine in Papua New Guinea, effective January 1, 2022. Prepared by a team of mining experts, the report aligns with National Instrument 43-101 standards. The company continues to focus on gold, copper, and silver production while exploring nearby mineral deposits. Notably, K92 declared commercial production at Kainantu in February 2018 and has since updated its economic assessments. The report is accessible on SEDAR and K92's official website.
Kora South drill hole KMDD0495 reported multiple intersections, including 30.55 m at 12.82 g/t gold equivalent (AuEq), marking significant mineralization. The hole ended early due to ground conditions and lies 400 metres down-dip from KUDD0002, which previously recorded 35.90 m at 5.98 g/t AuEq. Other highlighted results include KUDD0017 with 25.00 m at 20.89 g/t AuEq from the J1 Vein. The results showcase the high-grade continuity of the Kora-Kora South and Judd-Judd South vein systems, expanding the known strike length significantly. Overall, the drilling confirms robust resource growth potential.
K92 Mining Inc. reported strong production results for Q3 2022 at its Kainantu Gold Mine, achieving a record gold equivalent production of 32,995 oz AuEq, which includes 29,256 oz gold, 1,666,076 lbs copper, and 32,161 oz silver. The quarter saw a significant 35% increase in mill throughput from Q3 2021, processing 117,938 tonnes or 1,282 tpd. Mine production hit a record of 122,035 tonnes ore mined, up 37% year-over-year. The company remains well-positioned to meet its annual production guidance of 115,000 to 140,000 oz AuEq.
K92 Mining Inc. (KNTNF) will release its 2022 Q3 financial results on November 14, 2022, before North American markets open. A conference call and webcast to discuss these results is scheduled for 8:30 AM EST the same day. K92 operates the Kainantu Gold Mine in Papua New Guinea, where it produces gold, copper, and silver. It declared commercial production in February 2018 and has a strong financial position. A maiden resource estimate for the Blue Lake project was completed in August 2022.
K92 Mining Inc. (KNTNF) has announced the filing of a technical report on the Blue Lake gold-copper porphyry deposit in Papua New Guinea. The report, with an effective date of August 1, 2022, provides a maiden resource estimate and was prepared in accordance with National Instrument 43-101. Located 4 km from K92's producing Kora and Judd deposits, Blue Lake was discovered in 2017 and has undergone two diamond drill programs totaling 26 holes and 16,474.8 metres. K92 is financially strong and engaged in the production and exploration of minerals in the region.
K92 Mining Inc. (KNTNF) has been recognized in the Toronto Stock Exchange's 2022 TSX30, ranking 11th for a 337% share price increase over three years. This accolade highlights K92's robust growth amid challenges like the COVID-19 pandemic. The company has successfully implemented multiple expansions, enhancing production capacity significantly. Additionally, K92's exploration success includes a maiden inferred resource estimate of 10.8 million oz gold equivalent at Blue Lake. CEO John Lewins praised the team's commitment and noted that government support was crucial during this period.
K92 Mining has announced its Integrated Development Plan (IDP) for the Kainantu Gold Mine Project in Papua New Guinea. The IDP comprises two scenarios: the Stage 3 Expansion (DFS) and Stage 4 Expansion (PEA). The DFS indicates a peak annual production of 308,793 ounces AuEq by 2026, with an after-tax NPV5% of $586 million at $1,600/oz gold. The PEA highlights potential for increased throughput to 1.7 mtpa and a peak production of 500,192 ounces AuEq in 2027, with an after-tax NPV5% of $1.3 billion. Both cases are fully funded by mine cash flow.
K92 Mining reported that operations at the Kainantu Gold Mine in Papua New Guinea resumed normally after a 7.6 magnitude earthquake on September 11, 2022. Operations were briefly halted as safety inspections were conducted, revealing no injuries to personnel and only minor damage to equipment, leading to an 8-hour stoppage. The company emphasized the resilience of its operations and the safety protocols in place. K92 Mining has been engaged in gold, copper, and silver production since declaring commercial production in February 2018 and maintains a strong financial position.
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