K92 Mining Announces Q2 2025 Financial Results – Commissioning of Stage 3 1.2 mtpa Process Plant on Track for Completion in First Half of Q4 2025

Associated Press

8 hours ago

VANCOUVER, British Columbia, Aug. 11, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. ('K92' or the 'Company') (TSX: KNT; OTCQX: KNTNF) is pleased to announce financial results for the three and six months ended June 30, 2025.
Production
Financials
Growth
See the Company's news release dated June 5, 2025 for additional details.
The Company's interim consolidated financial statements and associated management's discussion and analysis for the three and six months ended June 30, 2025 are available for download on the Company's website and under the Company's profile on SEDAR+ (www.sedarplus.ca). All amounts are in U.S. dollars unless otherwise indicated.
See Figure 1: Quarterly Production, Cash Cost and AISC Chart
See Figure 2: Quarterly Total Ore Processed, Development Metres Advanced and Total Mined Material Chart
See Figure 3:Gold and Copper Recoveries Chart
John Lewins, K92 Chief Executive Officer and Director, stated, 'During the second quarter, in June, K92 marked a major milestone, with the commencement of commissioning of the new 1.2-million-tonnes-per-annum Stage 3 Process Plant which plans to transform the Company into a Tier 1, mid-tier producer. Commissioning is rapidly advancing, with the first ore tonnes crushed recently. The run of mine (ROM) stockpile has also grown at a rate faster than scheduled, approaching 25,000 tonnes, ahead of the planned handover of the process plant to operations in the first half of Q4 upon practical completion of commissioning. Operationally, production during the first half of the year was ahead of budget and the second half of the year is expected to be our strongest, positioning us well to achieve guidance. Multiple underground projects are also scheduled to be completed this quarter to drive the mine ramp-up, and earlier this month, the first tonnes were conveyed down the ore/waste pass, connecting the main mine to the high-productivity twin incline.
Financially, the Company continues to strengthen its balance sheet with a record $183 million in cash, cash equivalents, and term deposits, including a record net cash position of $124 million, while also investing significant capital into the Stage 3 Expansion. With 86% of Stage 3 Expansion capital spent or committed as at the end of June, remaining on budget, and supported by a record gold price environment and strong production outlook for H2 2025, K92 is well positioned to deliver on the Stage 3 Expansion.
Exploration activity is ramping up across multiple near-mine and regional targets. At Arakompa, up to five surface drill rigs are currently operating. Additionally, up to seven underground drill rigs are active at Kora and Judd, with an increased focus on step-out drilling at Kora Deeps and Judd Deeps in the second half of the year. We look forward to providing further updates as the year progresses.'
Notes:
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Conference Call and Webcast to Present Results
K92 will host a conference call and webcast to present the 2025 second quarter financial results at 8:30 am (EDT) on Monday, August 11, 2025.
The conference call will also be broadcast live (webcast) and may be accessed via the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=axF1FpUw
Qualified Person
K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release.
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at [phone]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.
All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as 'expect', 'plan', 'anticipate', 'project', 'target', 'potential', 'schedule', 'forecast', 'budget', 'estimate', 'intend' or 'believe' and similar expressions or their negative connotations, or that events or conditions 'will', 'would', 'may', 'could', 'should' or 'might' occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company's operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company's ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company's foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company's Annual Information Form under the heading 'Risk Factors'.Figure 1:Quarterly Production, Cash Cost and AISC Chart
Figure 2:Quarterly Total Ore Processed, Development Metres Advanced, and Total Mined Material Chart
Figure 3: Gold and Copper Recoveries Chart
Photos accompanying this announcement are available at