K92 MINING INC - KNTNF STOCK NEWS

K92 Mining has released an Updated Integrated Development Plan (IDP) for its Kainantu Gold Mine, effective January 1, 2024. The plan includes two scenarios: the Stage 3 Expansion (DFS Case) and the Stage 4 Expansion (PEA Case). The DFS Case projects a 100% throughput increase to 1.2 mtpa, with an after-tax NPV5% of $680 million at $1,900/oz gold, extending mine life to 2030. The PEA Case envisions a 200% throughput increase to 1.8 mtpa, with an after-tax NPV5% of $2.3 billion at $1,900/oz gold, extending mine life to 2037.

The updated IDP integrates a significant increase in mineral resources, improved off-take agreements, and higher commodity prices. The DFS Case estimates an average annual production of 303,288 oz AuEq, with average cash costs of $380 per gold ounce. The PEA Case estimates 413,593 oz AuEq annually, with cash costs of $174 per gold ounce.

The project is fully funded through existing cash balances and credit facilities. As of September 30, 2024, 68% of the total growth capital for expansions has been spent or committed.

K92 Mining Inc. (TSX: KNT; OTCQX: KNTNF) has announced the upcoming release of its Updated Kainantu Gold Mine Integrated Development Plan. The plan will be released after North American trading markets close on Wednesday, October 16, 2024.

Following the release, K92 will host a conference call and webcast to present the updated plan at 5:30 pm (EDT) on the same day. Interested parties can access the conference call by dialing 1-844-763-8274 (toll-free within North America) or +1-647-484-8814 (from international locations).

Additionally, a live webcast of the conference call will be available through the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=XJgneEhG

K92 Mining Inc. (TSX: KNT; OTCQX: KNTNF) has announced the details for its 2024 third quarter financial results conference call. The company will release its financial results before the North American trading markets open on Thursday, November 14, 2024. K92 will host a conference call and webcast to present the results at 8:30 am (EST) on the same day.

Investors and interested parties can access the conference call by dialing toll-free 1-844-763-8274 within North America or +1-647-484-8814 from international locations. Additionally, a live webcast of the conference call will be available through the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=bBRYFhsh

K92 Mining announced record Q3 2024 production results for its Kainantu Gold Mine in Papua New Guinea. Highlights include:

- Record quarterly production of 44,304 ounces gold equivalent (AuEq) or 41,702 oz gold, 1,278,492 lbs copper, and 37,613 oz silver

- Record quarterly sales of 45,248 oz gold, 1,615,185 lbs copper, and 46,062 oz silver

- Record metallurgical recoveries: 95.3% for gold and 95.1% for copper

- Ore processed: 104,992 tonnes with head grade of 13.8 g/t AuEq

- Ore mined: 112,333 tonnes with total mine development of 2,190 metres

The company is well-positioned to meet its 2024 operational guidance of 120,000-140,000 ounces AuEq, having delivered over 80% of the lower end of annual guidance in the first 9 months.

K92 Mining (TSX: KNT; OTCQX: KNTNF) reported strong financial results for Q2 2024, despite temporary operational suspension. Key highlights include:

- Production: 24,347 oz AuEq (21,661 oz gold, 1,246,639 lbs copper, 26,754 oz silver)
- Cash costs: US$919/oz gold; AISC: US$1,510/oz gold
- Revenue: US$47.8 million
- Net income: US$6.1 million (US$0.03 per share)
- Cash position: US$71.1 million (excluding US$20 million restricted cash)
- Secured credit facilities up to US$150 million with Trafigura

The company's Stage 3 and 4 Expansions are progressing well, with 57% of growth capital spent or committed. Exploration results from Kora, Judd, and Arakompa projects show promising high-grade intersections. K92 maintains its 2024 operational guidance and expects higher production in H2 2024.

K92 Mining Inc. (TSX: KNT; OTCQX: KNTNF) has announced the schedule for its 2024 second quarter financial results conference call. The company will release its financial results after North American trading markets close on Tuesday, August 13, 2024. A conference call and webcast to present these results will be held at 5:30 pm (EDT) on the same day.

Investors and interested parties can access the conference call by dialing toll-free 1-844-763-8274 within North America or +1-647-484-8814 from international locations. Additionally, a live webcast of the conference call will be available through a provided link.

K92 Mining announced its Q2 2024 production results, revealing strong gold and record copper recoveries despite a temporary suspension of underground operations due to a non-industrial fatal incident. The company produced 24,347 ounces of gold equivalent (21,661 oz gold, 1,246,639 lbs copper, and 26,754 oz silver). Sales included 19,064 oz gold, 898,578 lbs copper, and 18,467 oz silver. Gold recovery was 93.7%, the highest since Q4 2019, and copper recovery was a record 95.3%. Total ore processed was 95,582 tonnes with a head grade of 8.5 g/t AuEq. K92 reiterates its 2024 guidance of 120,000 to 140,000 oz AuEq at cash costs of $820-$880/oz and all-in sustaining costs of $1,440-$1,540/oz, with production likely on the lower end of the range. Major milestones included vertical development from two raise bore rigs for ventilation and material transport upgrades.

K92 Mining has announced the results of its 2024 Annual General Meeting (AGM) held on June 27. All proposed resolutions were passed, with a total of 141,520,311 common shares (59.80% of issued shares) voted. Seven directors were elected, including Mark Eaton, Anne E. Giardini, and Cyndi Laval. Key resolutions included setting the number of directors at seven, re-appointing PricewaterhouseCoopers as auditor, approving the Amended Share Compensation Plan, and a non-binding advisory vote on executive compensation. Details are available on the company's website and SEDAR+.

K92 Mining has secured two new senior secured credit facilities totaling up to $150 million with Trafigura, replacing a previous $100 million loan. The facilities, divided into Canadian and PNG Credit Facilities, will be used for general corporate purposes and capital expenditure, with no hedging required. The Canadian Credit Facility has already secured $100 million, with an additional $20 million expected by January 1, 2025. An accordion feature could increase the total to $150 million. Additionally, K92 signed a new offtake agreement with Trafigura for the purchase of 100% of K92 PNG's copper/gold concentrates from the Kainantu Gold Mine. This agreement, effective January 1, 2026, offers competitive terms and improved payabilities, providing financial security for the company.