K92 Mining Inc. (TSX: KNT) announced on Monday its operating results for the first quarter 2022. The report highlights a gold equivalent production of 28,188 ounces, down from Q4 2021’s 36,145 ounces but up from Q1 2021’s 18,914 ounces.
The quarterly production came from 24,152 gold ounces, 1,524,827 copper pounds, and 28,142 silver ounces. The firm also processed a total of 99,611 tonnes for the quarter, marginally down from last quarter’s 99,713 tonnes but up from last year’s 73,221 tonnes.
Specifically, the firm exceeded the 1,100 tonnes per day target average throughput since its Stage 2 Expansion for the month of March, notching 1,219 tonnes per day. The throughout breached the 1,300-tonnes-per-day mark for 45% of the month’s operations.
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On the other hand, the firm sold a total of 29,728 gold equivalent ounces, coming from 26,471 gold ounces, 1,247,967 copper pounds, and 24,899 silver ounces. The prices are based on spot average price: US$1,879 per gold ounce; US$24 per silver ounce; and US$4.53 per copper pound.
“In the first quarter, we continued our positive operational momentum, delivering near-record mining and milling rates, the second consecutive quarter at Stage 2 Expansion run-rate and significant advancement of the twin incline, exceeding budget by 15%,” said CEO John Lewins.
The mining firm has previously announced that it is guiding its 2022 production to between 115,000 and 140,000 gold equivalent ounces.
K92 Mining last traded at $9.14 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.
