K92 Mining Hits US$35.4 Million In Revenue, Produces 24,122 Gold Equivalent Ounces In Q3 2021
K92 Mining Inc. (TSX: KNT) announced this morning its operating and financial results for the third quarter ended September 30, 2021. The report highlights a topline revenue figure of US$35.4 million, a marginal decrease from US$35.6 million for the same comparable period last year.
The mining company also produced a total of 24,122 gold equivalent ounces for the quarter, down from 25,015 ounces last quarter but up from 22,261 ounces last year. On the other hand, the firm sold a total of 21,675 gold ounces with an average realized sales price of US$1,707 per ounce and an all-in sustaining cost of US$752 per ounce. These figures compare to Q3 2020’s 19,265 ounces sold with sales price at US$1,815 and AISC at US$839.
Further down the financials, net income for the quarter came in at US$4.9 million compared to US$9.4 million last year. This translates to US$0.02 earnings per share.
The firm ended the quarter with a $54.6 million cash and cash equivalents balance. This brings the company’s current assets balance to US$102.4 million while current liabilities came in at US421.8 million.
BMO has recently reported that it expects the mining firm to miss its 2021 production guidance of 115,000 – 135,000 gold equivalent ounces. The company, in turn, reduced its guidance to 96,000 – 102,000 gold equivalent ounces, mainly due to the impact of the COVID-19 pandemic.
K92 Mining last traded at $8.11 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.