K92 Mining Inc. (TSX: KNT) reported on Thursday its quarterly production results for Q2 2021 at its Kainantu gold mine in Papua New Guinea, highlighting a gold equivalent production of 25,015 ounces. This is an increase from Q1 2021’s production of 18,912 gold equivalent ounces but still a decline from Q2 2020’s production of 26,847 gold equivalent ounces.
This quarter’s results include producing 22,153 gold ounces, 1,098,730 copper pounds, and 14,914 silver ounces. The gold equivalent for 2021 is computed based on the metal prices of US$1,800 per gold ounce, US$25 per silver ounce, and US$4.35 per copper pound.
On a quarter to quarter basis, the company slightly increased the tonnes processed to 75,667 tonnes from 73,221 tonnes. Feed grade for gold also improved to 10.3 g/t from 8.5 g/t, while copper feed grade increased to 0.76% from 0.31%.
The company is optimistic about improving its throughput as COVID-19 restrictions in Papua New Guinea and Australia, which impacted its operations, have been lifted during the quarter.
During the quarter, the mining company received positive results from the stoping performed on the Judd J1 vein. It is now planning to start production stoping on the vein, which the company believes could result in strong fourth quarter results.
K92 Mining last traded at $9.14 on the TSX.
Information for this briefing was found via Sedar and K92 Mining. 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.