K92 Mining Inc - CEO, John Lewins.
CEO, John Lewins.
Source: Outsider Club.
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  • K92 Mining Inc. (KNT) has reported record production rates for the second quarter of 2021 at its Kainantu Gold Mine in Papua New Guinea
  • The company delivered record mill throughput of 75,667 tonnes processed, a 53 per cent increase over 2020
  • Multiple drill rigs continue to operate on the property at the Kora Vein System, Judd Vein System, and Blue Lake porphyry
  • K92 Mining Inc. (KNT) closed trading down 2.30 per cent on the day, trading at $8.93 per share

K92 Mining (KNT) has reported record production rates for the second quarter of 2021 at its Kainantu Gold Mine in Papua New Guinea.

The company has continued to increase its ramp-up throughput to stage 2 expansion levels despite setbacks due to COVID-19, delivering record mill throughput of 75,667 tonnes processed, a 53 per cent increase over 2020.

With COVID-19 cases reaching record levels in Papua New Guinea in April and May, the company experienced a staffing shortage that in turn impacted production rates.

However, by the second half of the quarter most staff were able to return, and a vaccination program is underway on the property.

Operational performance saw significant increases in May and June, with production totals for the quarter reaching 25,015 gold equivalent ounces.

John Lewins, K92 CEO and director, commented on the record results.

“We have achieved record plant throughput in each of the first two quarters and the plant has continued to show that the potential throughput is greater than nameplate,” he said.

“Having overcome the numerous challenges faced during this period, the second half of the year looks very positive for the company.”

Multiple drill rigs continue to operate on the property at the Kora Vein System, Judd Vein System, and Blue Lake porphyry.

As a result of positive drilling results, first production stoping from the Judd Vein System is now planned for the fourth quarter.

The company expects to receive an exploration update for these targets in the near future.

K92 Mining Inc. (KNT) closed trading down 2.30 per cent on the day, trading at $8.93 per share as of 3:57 pm ET.

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