A: K92 Mining, $0.88, symbol KNT on the Toronto Venture Exchange (Shares outstanding: 176.2 million; Market cap: $155.1 million; www.k92mining.com), is focused on its Kainantu gold mine located in the Eastern Highlands province of Papua New Guinea. The site is a two-hours’ drive north, on paved road, from Papua New Guinea’s second-largest city, Lae.
Kainantu was previously mined by Highlands Pacific Limited and Barrick Gold Corporation from 2006 to 2009. K92 bought the mine from Barrick in early 2015 for $2.0 million U.S. plus future payments of up to $60 million. Those payments are based on K92 meeting certain milestones, including the production of more than 1 million ounces of gold at Kainantu.
Barrick had already invested $282.8 million in exploration and development of the mine. The previous owners spent $80 million U.S.
Kainantu may hold over two million ounces of gold. It also has lots of room to expand reserves through exploration.
K92 began commercial production at the mine on February 1, 2018…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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