K92 Mining Stock Price, News & Analysis

K92 Mining announces with deep sadness the passing of its Chairman, R. Stuart “Tookie” Angus, who significantly influenced the mining industry for over 40 years. Angus, who chaired K92 since its inception and the Kainantu Project acquisition in 2014, was known for his business acumen and mentorship. He held leadership roles in various mining companies, contributing to major business ventures. The CEO, John Lewins, expressed the company’s condolences and highlighted Angus's integrity and impact on K92’s success. The company remains well-positioned with strong financial health and ongoing operations led by its dedicated directors.

K92 Mining Inc provided an operational update regarding its Kainantu Gold Mine in Papua New Guinea, reporting two unplanned maintenance events in February that led to a total of 8 days of downtime. A mill trunnion bearing failure and a limited electrical fire resulted in production impacts for February and the first quarter. However, the company assures that its 2023 production guidance remains unaffected. CEO John Lewins expressed disappointment in these incidents but praised the team's quick response and readiness that facilitated a swift return to normal operations.

K92 Mining has announced high-grade results from ongoing diamond drilling at the Kora, Kora South, Judd, and Judd South deposits within its Kainantu Gold Mine in Papua New Guinea. Significant intersections include:

• KUDD0035: 50.05 m at 5.25 g/t AuEq from K1 Vein.
• KUDD0033: 27.90 m at 10.48 g/t AuEq from K2 Vein.
• KUDD0038: 14.00 m at 5.49 g/t AuEq from K1 Vein.
• KMDD0504: 6.12 m at 88.44 g/t AuEq from K1 Vein.

The results reveal the continuity and growth potential of the high-grade vein systems, with all holes intersecting mineralization.

K92 Mining Inc. announced the promotion of Chris Muller to Executive Vice President Exploration. With over 20 years of geological experience, Muller has significantly contributed to K92 since 2016, including notable discoveries like Kora North and the Blue Lake Porphyry. The company plans to boost its drill rig count from 11 to 13 to enhance resource growth from various systems. K92 continues to maintain a strong financial position, having declared commercial production at Kainantu in February 2018, and recently completed a maiden resource estimate for the Blue Lake project.

K92 Mining Inc. (TSX: KNT; OTCQX: KNTNF) will report its 2022 fourth quarter and annual financial results on March 30, 2023, before North American markets open. A conference call and webcast will follow at 8:30 am EST the same day, accessible via toll-free dialing and online. K92 is actively engaged in gold, copper, and silver production at the Kainantu Gold Mine in Papua New Guinea, having declared commercial production in February 2018. The company remains financially strong with recent developments, including a maiden resource estimate on the Blue Lake porphyry project completed in August 2022.

K92 Mining Inc. forecasts 2023 gold equivalent production between 120,000 to 140,000 ounces, incorporating supply chain contingencies. The company expects cash costs between $620-$680 per ounce and all-in sustaining costs (AISC) of $1,180-$1,300 per ounce due to increased capital expenditures. The ongoing Stage 3 and 4 expansions aim to transform Kainantu into a Tier 1 mine, with peak annual production projected at 500,192 ounces by 2027. Exploration spending is set at $13-$16 million, increasing the drill count from 11 to 13 to focus on growth. The company prioritizes sustainable development in light of previous delays.

K92 Mining Inc. announced strong Q4 2022 production results at its Kainantu Gold Mine, achieving a quarterly output of 35,538 oz AuEq, comprising 31,204 oz gold, 1,827,085 lbs copper, and 40,517 oz silver. With a record annual production of 122,806 oz AuEq (up 18% year-over-year), the company met its guidance range. Significant operational milestones included 121,686 tonnes of ore processed in Q4 and record development rates. A flotation expansion is expected to be commissioned in Q1 2023, enhancing recoveries and throughput flexibility.

K92 Mining Inc. has announced the promotions of David Medilek to President and Warren Uyen to Chief Operating Officer. Medilek brings over 15 years of experience in mining capital markets, while Uyen has over 30 years in the industry. Both have been key contributors to K92's success. The company operates the Kainantu Gold Mine in Papua New Guinea and has a strong financial position, having declared commercial production in February 2018.

K92 Mining has received a 10-year extension on Mining Lease 150 for the Kainantu Gold Mine, now valid until June 2034. This decision highlights significant support from the Government of Papua New Guinea. In addition, K92's Board has approved Stage 3 and 4 Expansions, increasing annual throughput targets to 1.2 million tonnes and 1.7 million tonnes, respectively. The expansions are projected to peak at 500,192 ounces AuEq in 2027, with low all-in sustaining costs. The company anticipates these developments will transform Kainantu into a Tier 1 mine.