Hi there,

Today I would like to introduce you to K92 Mining. It is a fast-growing gold and copper company based in Canada with operations in Papua New Guinea.

Mainly the high-grade Kainantu Gold Mine in Papua New Guinea - an underground mine with gold, copper and silver, on an 830 km² land package, located in one of the best supply regions in the world. The project is one of the most cost-efficient in its class and has been delivering stable results since 2018.

Already in Q1 2025, K92 achieved 47,817 AuEq ounces, an increase of 74% compared to Q1 2024, thanks to high ore grades at Judd and Kora with optimal processing.

In the second quarter, revenue increased by 102% to USD 96.3 million, with EPS of USD 0.16 - better than expected.

At the same time, the Stage 3 expansion (1.2 Mtpa) was launched in June; full operation is planned for Q4/2025, with a target annual production of 300 k AuEq ounces. Stage 4 (1.8 Mtpa) will follow by 2027 with over 400 k AuEq p.a.

With cash assets of around USD 183 million, additional liquidity of up to USD 90 million and only USD 60 million in debt, the financing of the expansions is secured.

Parallel to expansions, exploration is carried out at an annual cost of USD 17-20 million. Particular focus: Arakompa, first resource at the end of 2025/26, and the Blue Lake Porphyry project, which already holds over 14.6 million AuEq ounces (inferred) and has what it takes to literally catapult the company to the next level.

K92 Mining is at an interesting point: the ongoing expansion promises strong production growth, while new exploration projects open up further potential. At the same time, it is important to keep an eye on risks such as volatile commodity prices, political factors in Papua New Guinea and the challenging ramp-up of the plants.

However, the company now appears to be entering a phase in which it is worth taking a closer look. For investors and industry observers alike, K92 Mining offers plenty of material to discuss in terms of opportunities and challenges in the coming years.

Sources

Leading Gold Mining Growth in Papua New Guinea | K92 Mining Inc.

https://www.chartmill.com/

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