Latest news with #GemDiamonds
Yahoo
05-05-2025
- Business
- Yahoo
K92 Mining Announces the Passing of Board Member, Graham Wheelock
VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. ('K92' or the 'Company') (TSX: KNT; OTCQX: KNTNF) announces with tremendous sadness the passing of our fellow director and colleague, Graham Wheelock. Graham served on K92's Board of Directors continuously from February 2016, having been appointed to the Board of K92 when the Company first began trading in 2016. Graham's extensive mining career as a geologist and mining professional spanned over 40 years working for international mining companies. Graham was a person of integrity and ability, and was an integral part of the success and transformation of K92. In 2005, he co-founded Gem Diamonds Limited ('Gem Diamonds'). He helped manage Gem Diamonds' initial public offering in 2007, when the company was listed on the London Stock Exchange with a market capitalization of £600 million. Following Gem Diamonds, Graham was Project Manager and former Managing Director of Polynatura Corp., the company developing the Ochoa Fertilizer project in New Mexico, USA. Graham also worked with Anglo American plc and De Beers as a gold and diamonds geologist and manager. He also spent time as Acting General Manager for De Beers Namaqualand Mines in South Africa, responsible for 2,300 employees and annual production of 4.5 million tons. John Lewins, K92 Chief Executive Officer and Director, stated, 'Graham's passing is a profound loss for all of us at K92. He brought not only a remarkable depth of technical expertise and industry knowledge, but also a genuine passion for the work we do and the stakeholders we serve. Graham was a thoughtful and principled leader, whose strategic insight earned the respect of everyone around him. His contributions extended well beyond the boardroom, and his mentorship has had a lasting impact throughout the Company. We will miss his wisdom, his calm presence, and his sincere dedication to K92's mission. Our thoughts and heartfelt sympathies are with his family during this difficult time.' The Company will continue to be supported by the directors, led by Anne Giardini, KC, Chair. 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, CFA, President and Chief Operating Officer at +1-604-416-4445 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'. Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law
Yahoo
03-04-2025
- Business
- Yahoo
Lesotho, Africa's 'kingdom in the sky' jolted by Trump
US President Donald Trump in March ridiculed Lesotho as a place "nobody has ever heard of" and then this week hit the tiny African kingdom with the highest of his reciprocal trade tariffs for any single nation. Here are some things to know about the country sometimes called the Switzerland of Africa because of its mountainous landscape. - 'Kingdom in the sky' - Completely surrounded by South Africa, Lesotho is the largest of only three enclaved states in the world, far bigger than San Marino and the Vatican City, both of which are within Italy. At 30,355 square kilometres (11,720 square miles), it is about the same size as Belgium. Its population is roughly 2.3 million, compared to Belgium's nearly 12 million. Lesotho is known for the beauty of its mountainous terrain and styles itself the "Kingdom in the Sky". More than 80 percent of the country sits 1,800 metres (5,900 feet) above sea level and it is home to southern Africa's only ski resort. The highest peak is Mount Thabana Ntlenyana, with an altitude of at 3,482 metres. A constitutional monarchy, it is ruled by 61-year-old King Letsie III, who has no formal power. The government is led by a prime minister. - Textile economy - With a annual gross domestic product of just over $2 billion, Lesotho is largely dependent on South Africa -- it biggest trading partner -- from which it imports most of its food, selling water in return. The economy is heavily reliant on textile exports bound for the United States through the African Growth and Opportunity Act (AGOA) trade deal which provides duty-free access to the US market for some African products. Its traditional Basotho blankets are a national symbol and renowned for their vibrant patterns and woollen warmth. They are often loaded with meaning, from celebrating life and nationality, to fertility and royalty, peace, love and courage. Lesotho ranks among the world's poorest countries despite huge mineral reserves. British mine company Gem Diamonds said in 2018 it had discovered a 910-carat stone in one of its several Lesotho diamond mines. The country also pioneered the growing of cannabis for medical use in Africa. Unemployment has remained stubbornly high, hitting nearly 25 percent in 2023, according to the World Bank. - Royal row - A charity co-founded by Prince Harry in Lesotho to help people living with HIV ran into turbulence this month after a bitter boardroom row led King Charles III's younger son to step down as patron. Its Zimbabwe-born chairperson, Sophie Chandauka, publicly accused the prince of "bullying" and being involved in a "cover up", accusations the former royal has dismissed as lies. Harry founded the charity in 2006 with Prince Seeiso of Lesotho, before it expanded to Botswana. The name, Sentebale, is a tribute to his mother, Princess Diana, who died in a Paris car crash in 1997 when he was just 12. - HIV pandemic - At least one in four adults in Lesotho is infected with HIV, in one of the highest rates in the world. More than 230,000 people were receiving anti-retroviral treatment in 2021, according to the World Health Organization. In 2020, the country achieved the UN's "90-90-90" goal of 90 percent of people with the virus being diagnosed, on treatment and achieving viral suppression. The country also has the second-highest incidence of TB in the world, estimated at 724 cases per 100,000 people. bur-ho/br/cw
Yahoo
14-03-2025
- Business
- Yahoo
Gem Diamonds Full Year 2024 Earnings: EPS Misses Expectations
Revenue: US$154.2m (up 9.9% from FY 2023). Net income: US$2.89m (up from US$2.13m loss in FY 2023). Profit margin: 1.9% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. EPS: US$0.021 (up from US$0.015 loss in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 60%. Looking ahead, revenue is expected to decline by 15% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to grow by 1.9%. Performance of the British Metals and Mining industry. The company's shares are down 3.5% from a week ago. You still need to take note of risks, for example - Gem Diamonds has 2 warning signs (and 1 which can't be ignored) we think you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
