K92 Mining expects 34% manufacturing development in 2022

K92 owns and operates the Kainantu gold mine within the Jap Highlands province of Papua New Guinea. A high-grade, low-cost underground mine, Kainantu is situated inside a big 860 km2 land package deal internet hosting many extremely potential vein discipline and porphyry targets.

Present mining operations are targeted completely on the northern portion of the Kora deposit, which outputs gold, silver and copper. Longer-term manufacturing will stability out between the K1 and K2 veins.

“2021 was a document yr, and we plan to ship one other document yr in 2022. The tip-of-year momentum from the fourth quarter of 2021, which delivered document manufacturing, mill throughput, mine throughput and among the highest metallurgical recoveries over the previous two years for each gold and copper, has actually set the operation up nicely for 2022,” John Lewins, K92’s chief government officer and director, acknowledged in a information launch.

On the exploration entrance, K92 is anticipating a major improve in each near-mine and regional actions, with expenditures of $12-15 million projected for 2022.

The corporate lately made a serious pivot to give attention to useful resource development from beforehand largely infill drilling at Kora, with plans to drill the Judd, Kora, Judd South and Kora South vein methods, in addition to the Blue Lake porphyry.

Progress capital is forecasted to be $41-$47 million, which incorporates the continued Stage 2A enlargement to 500,000 tonnes per yr, substantial upgrades to underground and floor infrastructure, and the dual incline improvement to additionally assist the Stage 3 enlargement.

“Advancing the Stage 3 enlargement is a key a part of our plans this yr, with appreciable progress deliberate on a number of fronts. Twin incline improvement advance has carried out nicely, exceeding price range within the second half of 2021,” Lewins stated.

The useful resource replace for Judd and Kora is deliberate to be introduced collectively this quarter, and the Stage 3 definitive feasibility research and up to date preliminary financial evaluation (PEA) are deliberate for Q2 publication, he added. 

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Written by colin


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