K92 Mining expects stronger second half
Vancouver-headquartered K92 Mining is anticipating an improved operational performance in the second half of the year, and continues to expect its full-year production to be between 120 000 oz and 140 000 oz of gold equivalent.
Production at the Kainantu gold mine, in Papua New Guinea, was impacted by the temporary suspension of underground operations in April, following a nonindustrial fatal incident that occurred on site.
During the second quarter, the Kainantu mine produced 24 347 gold-equivalent ounces, or 21 661 oz of gold, 1.25-million pounds of copper and 26 754 oz of silver.
“The impact of the Form 29 [temporary suspension of underground operations] on the first and second quarter has, to some extent, hidden many significant operational bright spots, particularly in terms of plant throughput capabilities metallurgical recoveries, positive grade reconciliations and strong long hole stoping performance versus design,” said K92 CEO and director John Lewins.
“As we look forward to the second half of the year, we expect it to be significantly stronger than the first half, driven by a combination of mining sequence, higher throughput rates, more mining fronts, progressive productivity increases through the completion of infrastructure upgrades in addition to ongoing continuous improvement initiatives,” said Lewins.
K92 expects its production to be in the lower half of its production guidance range. All-in sustaining costs are forecast to be between $1 440/oz and $1 540/oz.
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