Quick Summary extracts from Q2, 2022 UpdateLower Head Gold Grade is a critical consideration in reviewing the latest Q2, 2022 update. Expect obvious drop in Financials compared to Q1, 2022...
But the future appears bright for patient investors : - The operation delivered head grades of 8.2 g/t AuEq or 7.2 g/t gold, 0.56% copper and 9.9 g/t silver in Q2. Gold grades were below budget due to stope sequencing.
- In June, the mill delivered a monthly average throughput record of 1,251 tpd, significantly exceeding the Stage 2 Expansion target of 1,100 tpd. A daily record of 1,559 tonnes was set on June 29, 2022. Subsequent to quarter end, on July 6, a new daily mill tonnes processed record was achieved of 1,638 tonnes.
- During the quarter, long hole stoping continued to perform to the design, with operations focused on Kora’s K1 and K2 veins, and Judd’s J1 Vein for a total of 9 levels mined.
- The strong throughput and higher grade stoping sequence planned for 2H 2022, well positions Kainantu to achieve its 2022 production guidance of 115,000 to 140,000 oz AuEq.
- As an update on the Stage 2A Expansion, the new filter press is installed and operational, the additional TC-1000 secondary crusher was installed in late 2Q and is currently being commissioned, while the new flotation tanks are scheduled to arrive in Q4 2022.
- Beyond production expansions, exploration is also a major focus for K92. There are 10 drill rigs currently operating, focusing on resource growth. With our financial position the strongest it has ever been by a significant margin, we expect to increase our exploration budget near-term.”
Peace, Good decision-making to All,
ElJ