K92 Mining has poured 458 oz. of doré at the new Kainantu third-stage expansion in Papua New Guinea. Credit: K92 Mining
K92 Mining (TSX: KNT) has produced the first commercial gold-copper-silver concentrate and poured 458 oz. of doré at the new Kainantu third-stage expansion in Papua New Guinea (PNG).
The third-stage expansion targets producing about 300,000 oz. gold-equivalent per year at all-in sustaining costs of about $920 per oz., with a fourth expansion to lift the run-rate to 400,000-plus oz. by late 2027. The production start at the 1.2-million-tonnes-per-year plant clears the way for concentrate shipments in parallel with doré pours.
PNG Prime Minister, James Marape, attended the on-site inauguration on Thursday.
K92 enters the expanded plant commissioning that cost $194 million “from a position of strength,” BMO Capital Markets analyst Andrew Mikitchook said in a note Thursday. The…
