Investor
Presentation
After-Tax NPV 5%
US$1.5 B ($1,500/oz)
US$2.0 B ($1,900/oz)
K92 Mining owns the Kainantu Gold Mine located in the Eastern Highlands province of Papua New Guinea. The Kainantu Gold Mine is a high-grade, low cost underground mine within a ~860 km2 land package in a region known for Tier 1 deposits. At the end of 3Q20, K92 commissioned its Stage 2 Expansion to double throughput to 400ktpa (+120koz/year). In 3Q21, the Stage 2A Expansion was approved to increase throughput +25% to 500ktpa (commissioning planned 3Q22). An additional expansion is already planned, with a Stage 3 Expansion PEA completed in 2Q20, outlining a run-rate production of +315koz AuEq pa, average AISC of $486/oz AuEq and After-Tax NPV5% of US$1.5b at $1,500/oz. Drilling to support potential further expansions is also underway with currently up to 11 rigs on site.
K92 is recognized as a OTCQX Best 50 company in 2021.
"Papua New Guinea is the land of Tier 1 mining assets, both in terms of size and grade, has some of the best geology on the planet and we strongly believe that we are located in one of the most prospective parts of the country. At K92 we are very fortunate to have two exceptional resources; our workforce of which over +95% is from PNG and our mineral resource. Additionally, the support from all levels of government has been a major factor in all of our achievements to date."
- CEO and Director, John Lewins
Stage 3 PEA Highlights
Tier 1 Asset
318,000 oz AuEq pa
Run Rate
Run Rate
Long Mine Life
3.1 moz AuEq
over 12 years
over 12 years
Self-Funded, Low Capex
US$125m initial
Pre-expansion Capex
Pre-expansion Capex
Tier 1 Asset LOM Costs
US$362/oz AISC
(net of by-products)
(net of by-products)
Near-Term Expansion
Targeting Processing in
Late 2023
Late 2023
Stage 3 Expansion
"The PEA economics are robust, with run-rate production of ~318,000 oz AuEq per annum; low average all-in sustaining costs net of by-product credits of US$362/oz gold which benefitted from higher copper grades and economies of scale, and; an after-tax NPV5% of US$1.5 billiion at US$1,500/oz. Importantly, the Stage 3 Expansion is a low capital intensity project and within our ability to self-fund from scheduled mine cash flow.
As a result, we are initiating a Definitive Feasibility Study ("DFS") for Stage 3. Work on the new twin incline is underway. "
- CEO and Director, John Lewins
July 27, 2020
Thayer Lindsley award 2021
BEST GLOBAL DISCOVERY
“We are extremely proud to receive the Thayer Lindsley Award, which we believe recognizes the world-class nature of the Kainantu Gold Mine, the tremendous geologic potential of Papua New Guinea, and the significant value creation from the K92 team. The rapid progress has been truly remarkable, achieving commercial production in late-January 2018, exceeding production guidance in both 2018 and 2019, and commissioning our Stage 2 Process Plant Expansion and completing the Stage 3 Expansion PEA in 3Q 2020. This would not have been possible if it weren’t for the extraordinary commitment of our team and the strong support of all levels of government in Papua New Guinea.”
- CEO and Director, John Lewins
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(View)Latest News
K92 Mining Releases Strong 2022 Q1 Financial Results - Record Cash Balance and Record Monthly Throughput
May 16, 2022
K92 Mining 2022 First Quarter Financial Results Conference Call Details
April 19, 2022
K92 Mining Announces Strong Q1 Production Results at Kainantu Gold Mine - Record Throughput of 1219 tpd in March