K92 Mining powers through production disruptions in Q3
Editor's Note: We are proud to unveil our new mining page, an entire space dedicated to up-to-the-minute news, with exclusive industry interviews and all the relevant information you need, rounded in up in one spot. Who is merging? Who is Buying? Who is Digging? We got you covered!
(Kitco News) - Papua New Guinea’s K92 Mining said Tuesday that Q3 was better than planned at 19,170 oz AuEq (gold equivalent) produced.
The company said that K92's Kainantu Gold Mine produced 18,636 oz of gold, 209,287 pounds of copper and 5,284 oz of silver or 19,170 AuEq oz. Recoveries for the first three quarters of 2019 averaged 93.7% for gold and 92.8% copper.
John Lewins, K92 CEO and director, said the company was able to overcome a number of disruptions to its underground mining operations and exceed budgeted production.
“The production results for the third quarter reflect the robustness of the Kora North deposit and the ability of the team at Kainantu to deliver on operational performance, while also focusing on major capital and infrastructure projects for the expansion.
"The plant treated 32,094 tonnes at a head grade of 19.2 g/t Au, resulting in production of 19,170 oz AuEq, which was 14% above budget. The mine has now produced 58,610 oz AuEq in the first three quarters of 2019, surpassing the 47,237 oz AuEq for the entire 2018, and is well on target to meet our increased guidance of 72,000 to 80,000 oz AuEq for 2019.
"The company continued to work on the expansion of the Kora/Kora North Resource, with the two surface and three underground rigs operating on the mine lease and 30 holes completed during the quarter."