K92 Mining Inc T.KNT

Alternate Symbol(s): KNTNF

Metals & Mining Gold

K92 Mining Inc. is a Canada-based company, which is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine, including Blue Lake, in Papua New Guinea. The Company holds the mining rights to Mining Lease 150 (ML 150). Within and surrounding ML 150 is an epithermal vein field consisting of multiple known and highly prospective vein systems: Kora, Irumafimpa, Karempe, Judd, Kora South, Judd South, Mati, Maniape and Arakompa. Mining is focused on the Kora vein system, consisting of two dominant veins and the Judd vein system consisting of four known veins with one vein being mined. There are multiple near-mine infrastructure targets, within the Kora-Kora South, Judd-Judd South and Karempe vein systems.

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K92 Mining Inc

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Comment by StockMagicianon Aug 22, 2016 11:01am

177 Views

Post# 25163814

RE:$2M USD For A Mine Sounded Too Good...

LOL, nice try.

On March 6, 2015, K92 acquired all of the outstanding shares of BKL for an initial US$2M cash payment, and the potential payment of up to an additional US$60M payable as:
• US$20M upon exceeding 1M gold equivalent ounces (reserves or measured and indicated resources plus cumulative production) within 10 years, and
• US$5M for every 250,000 incremental ounces identified within 10 years, up to a maximum of US $40M

If my resource quadruples, I'm perfectly happy to pay the $20M.

I'm also perfectly happy to pay $5M for every 250,000 incremental ounces.

It was still one heck of a deal.

biloshi wrote: From the company presentation(pdf):

". On March 6, 2015, K92 acquired all the outstanding shares of BKL for an initial US $2M cash payment , and the potential payment of up to an additional US $60M payable as: ....."

Cheers!