RE:RE:RE:RE:RE:RE:RE:New Press Release - K92 Mining Announces 2023 Q1 Financial Results Including Multiple Process Plant Records Significantly Exceeding the Stage 2A Expansion Design and Record DevelopmentA few extracts from Q1, 2023 Managements D & A:
Mill Throughput:
- Record monthly average daily throughput of 1,490 tonnes per day (“tpd”), achieved in March, 9% is above the Stage 2A Expansion run-rate of 1,370 tpd,
- Importantly, these records were achieved prior to commissioning of the final major Stage 2A Expansion plant upgrade, the flotation expansion, planned for commissioning in Q2 2023.
Expansion:
- After completion of the infill drilling program at Kora, exploration is now almost entirely focused on resource growth, with up to 11 drill rigs operating at Kora, Kora South, Judd and Judd South.
- Full commissioning of the Stage 2A expansion with the addition of flotation cells to double rougher capacity is anticipated in Q2 2023, and it is expected to further drive economies of scale, increase production, and strengthen the Company’s ability to self-fund the Stage 3 Expansion.
- On December 6, 2022, the Government of Papua New Guinea granted an extension of Mining Lease 150 for the Kainantu Gold Mine in Papua New Guinea for a period of 10 years to June 13, 2034. In conjunction with this announcement, the board of directors of the Company approved the Stage 3 and Stage 4 expansions, which will increase the annual processing throughput to 1.2 million metric tons per year and 1.7 million metric tons per year, respectively.
Peace,
Good Decision-making to All,
ElJ