RE:New Press Release - K92 Mining Announces Strong 2023 Q2 Financial Results - Significant Cash Balance Increase and Low Cash & All-In Sustaining CostsSince we had seen the Company published operating numbers in July, the Q2, 2023 Financial results by K92 Mining were a little better than I had anticipated driven, relative to my model, by K92 Mining Realized Gold Price, and lower operating and admin-type costs.
Some Key extracts from Q2, 2023 report included IMHO :
- Completion of the Stage 2A Plant Expansion in May, delivered an immediate and notable boost to metallurgical recoveries;
- Exploration Drilling is progressing on multiple fronts, with a total of 11 drills operating at the Kora-Kora South, Judd-Judd South vein systems and the A1 porphyry, expanding multiple high-grade areas including important example in J2 Vein at Judd South; The J2 Vein is not part of the current resource. … a few example highlights :
- KUDD0040 recording 2.40 m at 345.36 g/t AuEq from the J2 Vein at Judd South,
- KUDD0045 recording 11.20 m at 12.69 g/t AuEq from the J2 Vein at Judd South,
- KODD0036 recording 5.00 m at 161.57 g/t AuEq from the J1 Vein
- Extracted Statement : “We expect to provide another extensive exploration update shortly.”
- “The twin incline advance is ahead of schedule and as a result we expect first ore to be mined at Kora at depth in Q4, (2023) establishing a major new mining front at depth that will provide a significant boost to operational flexibility as 2024 progresses.
Peace,
Good Decision-making to All,
ElJ