KNTNF - K92 Mining surges after big Q2 production boost

2023-07-10 11:27:57 ET

K92 Mining ( OTCQX:KNTNF ) +7.5% in Monday's trading after reporting an 18% Y/Y increase in Q2 production to 30,794 gold equivalent oz, or 27,405 oz of gold, ~1.526M lbs of copper and 34K oz of silver.

K92 ( OTCQX:KNTNF ) said operational performance strengthened considerably after early April at the Kainantu Gold Mine in Papua New Guinea, resulting in a Q2 average mill head grade of 9.23 g/t gold equivalent, or 8.20 g/t gold, 0.66% copper and 11.56 g/t silver.

Q2 recoveries averaged 92.4% for gold and 92.8% for copper, representing K92's ( OTCQX:KNTNF ) highest quarterly recoveries since Q4 2021 for both gold and copper, and well above the 2022 average of 90.4% for gold and 90.5% for copper.

The company added it expects this year's H2 will be the stronger half operationally, with FY 2023 guidance unchanged.

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