K92 MINING INC - KNTNF STOCK NEWS

K92 Mining (KNTNF) reported strong Q1 2021 results, achieving a record quarterly revenue of US$29.5 million, up 7% year-over-year. The company produced 18,654 oz of gold equivalent and increased its cash balance by US$15 million, totaling US$66 million. Despite operational challenges due to COVID-19 and an underground loader incident, production efficiency is expected to recover in Q2. The company also reported a net income of US$2.2 million with cash costs of US$745/oz and all-in sustaining costs of US$1,038/oz, highlighting a solid financial position.

K92 Mining Inc. (TSX: KNT; OTCQX: KNTNF) announced that the Australian government has lifted travel restrictions for expatriate fly-in fly-out workers between Papua New Guinea and Australia, initially imposed on March 17, 2021. The move follows enhanced COVID-19 protocols and allows K92 personnel to resume international travel. Despite some operational impacts due to lower expatriate personnel during the restrictions, the Kainantu Gold Mine continued operations without significant disruption. The completion of an updated resource estimate is now delayed until Q4 2021, but overall 2021 guidance remains unaffected.

K92 Mining Inc. (OTCQX: KNTNF) has granted 2,420,000 stock options to its employees, directors, and consultants, effective May 3, 2021. The options are exercisable at $8.02 per share, expiring in five years, and will vest over twelve months. The company is engaged in producing gold, copper, and silver from the Kora deposit in Papua New Guinea and announced commercial production commencement in February 2018. K92 is in a robust financial position and is expanding its mine based on an updated Preliminary Economic Assessment.

K92 Mining has announced that it will release its 2021 first quarter financial results on May 13, 2021, after North American market close. A conference call and webcast will follow on May 14, 2021, at 8:30 AM EDT for detailed discussion of the results. K92 operates the Kainantu Gold Mine in Papua New Guinea, producing gold, copper, and silver, with commercial production declared in February 2018. The company is financially strong and is currently expanding its mine based on updated Preliminary Economic Assessments from January 2019 and July 2020.

K92 Mining reported a record Q1 throughput of 73,221 tonnes, a 54% increase from Q1 2020, with an average of 1,000 tonnes per day. Production included 18,654 oz AuEq (17,774 oz gold, 426,153 lbs copper, 7,925 oz silver). Despite challenges such as a shortage of explosives and an underground loader incident, K92 maintained operational resilience, deferring some production to Q2. The company strengthened its financial position, repaying $5 million in loans and increasing cash reserves to $66 million.

K92 Mining Inc. (OTCQX: KNTNF) announced robust financial results for Q4 and the full year 2020, achieving record revenues of US$48 million in Q4, up 44% year-over-year, and US$159 million for the year, a 56% increase. The company produced 29,820 oz of gold equivalent in Q4, a 26% rise from the previous year, and 98,872 oz annually, a 20% increase. Cash costs were US$639/oz and all-in sustaining costs at US$768/oz in Q4. A successful Stage 2 Plant Expansion, now doubling capacity, and a promising Stage 3 Expansion PEA drive further growth potential.

K92 Mining Inc. provides an update on its Kainantu operations amidst rising COVID-19 cases in Papua New Guinea. The Kainantu Gold Mine continues to operate, implementing enhanced health measures. However, recent Australian travel restrictions may temporarily reduce expatriate staffing levels. Production has been slightly affected by a two-week interruption in stoping operations, deferring some production to the next quarter. Despite these challenges, K92 maintains a strong financial position, having repaid a $5 million loan and holding over $67 million in cash.

K92 Mining Inc. (KNTNF) will release its fourth quarter and full-year 2020 financial results before North American markets open on March 29, 2021. A conference call to discuss these results will be held at 8:30 am EDT on the same day. K92 Mining is actively engaged in gold, copper, and silver production at the Kainantu Gold Mine in Papua New Guinea and is financially sound. The Company has commenced a mine expansion based on recent economic assessments and boasts a professional management team with extensive mining experience.

K92 Mining has announced significant diamond drilling results from the Kora deposit at the Kainantu gold mine in Papua New Guinea. Drill holes KMDD0266 and KMDD0280 recorded high-grade intersections, including 7.20 m at 64.88 g/t gold equivalent and 6.82 m at 37.19 g/t AuEq, respectively. A total of 35 holes intersected mineralization, with 25 intersections surpassing 10 g/t AuEq. The company's ongoing drilling program aims to increase resource density for the Stage 3 Expansion Feasibility Study, particularly targeting areas previously excluded from resource estimates.