RE:New Press Release - K92 Mining Provides Operations Update I wasn't planning on posting again until after 4/1 4q data release.
However, I've seen no real comments on the confliction of the KNT NR.
What is covered in the 1st paragraph are that underground operation were temporarily
suspended.as of March 10. Processing operations were suspended for 3 days but
have now resumed. What wasn't stated is that the underground operations remain
suspended. Why?
As stated, there was a "non- industrial incident within the KNT lease resulting
in a death". The words 'suspicious' and 'Criminal Code Act" are contained in
the 2nd paragraph. Does this imply a murder or suspicious suicide investigation?
A very serious situation but seemingly unrelated to the mining operations.
The 3rd paragraph states that the 'MRA ordered a temporary suspension of
underground operation... pending completion of independent safety audit and the
installation of the collision avoidance system'. The collision avoidance system relates
back to the 2 industrial related deaths last summer but why conflate the non- industrial
related incident with the installation of safety equipment whose installation seemed to
be ongoing??
Was this safety equipment supposed to be already installed, hence the shutdown?
KNT has no option but to clarify at upcoming conference call 4/2. Hopefully the
relationship with PNG safety personnel remains good as we have not heard any
negatives since the two mining related deaths last summer... and that underground
operations are restarted.