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K92 Mining Inc T.KNT

Alternate Symbol(s):  KNTNF

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.


TSX:KNT - Post by User

Bullboard Posts
Comment by Bjornsjodin82on Oct 15, 2020 7:22pm
130 Views
Post# 31725799

RE:RE:RE:RE:RE:RE:RE:blue skies ahead

RE:RE:RE:RE:RE:RE:RE:blue skies aheadHe dident work for alterra at that time. Yes thats true about cartesian. This where the deal. . Under the GPA, CRH has committed to provide K92 with up to US$4.8 million over four (4) tranches in exchange for a percentage of gold produced at Irumafimpa over a 36 month period, subject to a minimum of 18,000 ounces of gold and a maximum of 20,000 ounces of gold.CRH advanced K92 the first tranche of US$962,795 under the GPA. Remaining tranches will be advanced upon K92 fulfilling certain technical milestones and other conditions, including the initiation by February 29, 2016 of the previously announced reverse take-over transaction with Otterburn (RTO).In addition to the advances under the GPA, CRH has committed to an equity investment of up to CDN$3.5 million in K92 (or Otterburn following completion of the RTO) over two (2) tranches, pursuant to which CRH will subscribe for up to 10,000,000 units of K92 (or Otterburn) at CDN$0.35 per unit (the Equity Component). Each unit will consist of:one Class A Preferred Share, convertible into one ordinary share of K92 (or Otterburn). Each Class A Preferred Share will be redeemable by CRH at 1.5 times the original subscription price if K92 is unable to meet certain conditions, including the delivery requirements of gold under the GPA; andone warrant entitling CRH to purchase one ordinary share of K92 (or Otterburn), exercisable at CDN$0.75 per share for a period of two (2) years following the date of issue. A forced exercise clause will exist on these warrants if shares of K92 (or Otterburn) trade at CDN$1.25 or greater for 10 consecutive days during the 2-year term.If K92 fails to meet certain requirements of the GPA, CRH may elect to receive up to 30,000 ounces of gold rather than subscribing for units under the Equity Component.
Bullboard Posts