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 > New Press Release - K92 Mining Announces Record Quarterly Production of 39,101 oz AuEq, Multiple Operational Records and Exceeds Annual Production Guidance

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Comment by ElJon Jan 09, 2024 3:35pm

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Post# 35818069

RE:New Press Release - K92 Mining Announces Record Quarterly Production of 39,101 oz AuEq, Multiple Operational Records and Exceeds Annual Production Guidance

I expect that BBoard poster colleagues will be well pleased by the Q4, 2023 production results. These are really solid and in some cases excellent results.

I was wrong in my post ID 35809180, with my anticipation that Sales of Gold in Q4, 2023 would “benefit nicely from reduction (in part) of the 6,066 Gold Inventory ozs. held by K92 at the end of Q3, 2023”…. Production of Gold in Q4 was 33,309 ozs compared to 31,931 ozs. Q4, 2023 Sales of Gold.

Tuesdaynightrid’s indicated expectation that K92 would exceed Gold Equiv. guidance of 116,000 production ozs. was indeed achieved at 117, 607ozs. but the “fairly certain 40K ozs. for Q4, 2023” was just a little over optimistic, K92 delivering at 39,101 vs. my own modeling at 38, 800.

Some key items in the Q4, 2023 from my perspective:

As most would have anticipated, following the 9 months report results, Gold production Y-O-Y was down from 107,546 in year 2022 to actual 100,533 in year 2023, and also notice that Gold feed grade was down from 8.3 avg. in 2022 to 6.8 average in 2023.

The production numbers for both silver and copper in Q4, 2023 were strong and reflected, especially in the case of copper a feed grade (0.87%) significantly higher than mix average (due to the source segments of the mine that were being processed).

As stated by John Lewins, K92 CEO

“The performance of the process plant since the final commissioning of the Stage 2A Expansion in May 2023 continues to be a major positive and has significantly exceeded our expectations.”
- It is important to highlight that the strong Stage 2A plant performance has significant potential positive implications for the Stage 3 plant under construction. The Stage 2A and Stage 3 Process Plant Expansion designs utilized the same conservative throughput parameters, indicating the potential for the ultimate throughput rate to be materially higher than the 1.2 million tonnes per annum design for the Stage 3 Expansion.
Mine performance was also very strong, delivering record ore tonnes mined and the twin incline is over 98% complete of its 2.9 km design.