K92 Mining Inc. (KNT: TSX, KNTNF: OTCQX) capped off a strong year with record-breaking production in the fourth quarter of 2023 at its Kainantu gold mine in Papua New Guinea.
The company achieved outstanding quarterly production of 39,101 ounces (oz) of gold equivalent (AuEq), exceeding internal expectations. This breaks down to 33,309 oz of gold, 2.7 million pounds (lbs) of copper, and 56,502 oz of silver.
K92 Mining's full-year performance also surpassed its updated production guidance range of 111,000-116,000 oz AuEq. The company produced a total of 100,533 oz of gold, 7.6 million lbs of copper, and 160,628 oz of silver.
"In 2023, K92 made significant strides across the board," said John Lewins, CEO and Director of K92 Mining. "We achieved multiple records, both financially and operationally, including production, development, material movements, earnings per share, cash flow per share, and revenue."
The record production follows the company's largest expansions completed in 2023, which were announced in December 2022. K92 Mining remains focused on exploration efforts, particularly at the Arakompa prospect.
"We are encouraged by our exploration results to date, particularly at Arakompa, where drilling has not been conducted in over 32 years," Lewins added. "A second drill rig has begun operations at Arakompa, and we look forward to sharing further exploration updates."
K92 Mining's impressive achievements solidify its position as a leader in the mining industry, with continued growth and success anticipated in the years to come.
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