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Yes very good signs indeed. 1.35 million shares sitting @ .60 bid at the moment. That puts both a floor under it and shows some new interest.
This is another great update. One of these days going to be well rewarded for holding
John Lewins, K92 Chief Executive Officer and Director, states, “In October 2017, K92 commenced grade control drilling and the mining of a bulk sample from Kora North. Just over four months later, we have announced the achievement of commercial production and defined a Measure + Indicated + Inferred Resource of 320,000 tonnes at an AuEq grade of 15.4 g/t containing almost 160,000 ozs of AuEq, covering an area of just 300 metres along strike by 150 metres vertically – equivalent to less than 5% of the total area of 1,000 metres by 1,000 metres that we plan to drill out from underground over the coming 12 months. This 160,000 ozs is equivalent to almost 3 years production at current design levels.
BRIEF-K92 Reports No Impact At Site From Recent PNG Earthquake
Feb 26 (Reuters) - K92 Mining Inc <KNT.V>:
* K92 REPORTS NO IMPACT AT SITE FROM RECENT PNG EARTHQUAKE
* K92 MINING - MINING, PROCESSING AND EXPLORATION
OPERATIONS
CONTINUE AS PER NORMAL BUSINESS OPERATIONS AT K92'S KAINANTU
GOLD MINE
Source text for Eikon: [ID:nGNX4pgRp]
Further company coverage: [KNT.V]
((Reuters.Briefs@thomsonreuters.com;))
Rank : n/a
Now that we are in commercial production. When should we expect our first set of quarterly numbers?
Your right, I meant to direct the stupid comment towards the fact of the offering and not you. I apologize for that.
I am still not happy with the event, shows weakness in my book and lack of value being attributed to the company that at this stage them would attribute that value.
Thanks , looking forward to hearing why they went this route .... if they tell you anything
Yes the prospects are really good for this one but I feel the deal @.45 and options to buy more @.65 within 18 months is really weak.
If things are so rosy I feel they should be getting a much better deal than that. Even a short term loan while ramping up is better than that.
It’s almost like they are rewarding some entity
Wonder if the warrants target over next few weeks is unattainable so they had to go this route as they foresee warrants not getting exercised
Well that sucks, didn’t think they need to dilute anymore. Specially with the outstanding warrants due in a few weeks.
Not sure either why there has been no reaction from the market. They must have a very negative view on the company.
Don’t understand it quiet yet specially when they are talking of huge grades and 6 to 7 millions ounces. Who knows how much more they can get from the property
There will defiantly be a revaluation now. Market was pricing in a failure here. I wouldn’t be surprised to see it hit .60 CAD by end of day.
Any reason for the dip today ?
No news on commercial production but very impressive drilling results
K92 Operations Update and Latest Drill Results
February 02, 2018 08:00 ET | Source: K92 Mining Inc.
K92 Operations Update and Latest Drill Results
Highlights include:
Drill intercept of 6.49 m at 23.66 g/t Au, 27 g/t Ag and 0.16% Cu (24.24 g/t AuEq)
Face sampling taken while mining the K1 Kora vein reports values of 0.6 m @ 1,126 g/t Au in one face and 0.3 m @ 2,171 g/t Au in another face
Process plant feed grade in excess of 40 g/t Au over consecutive days, including a peak of 82.98 g/t Au over a 12 hour period.
http://www.globenewswire.com/news-release/2018/02/02/1332301/0/en/K92-Operations-Update-and-Latest-Drill-Results.html
No sorry to say your shares are worthless. Canceled with the permission of the court.
No Voting by Equity Claims
The Plan provides that all shares and related equity instruments and claims of Banro (collectively, the "Equity Claims"), will be cancelled and extinguished for no consideration and without any return of capital. Holders of Equity Claims will not be entitled to attend or vote at the Creditors' Meetings.
February and no news of commercial production yet :( that email reply posted earlier then was incorrect
Gold has put in a fantastic month. But I can help feel miners and explorers have not taken part in any way.
Is it only a matter of time before we see big moves for share holders or is the market wait for a certain point to be breached with gold —- say 1,400 ?
Good piece
Edge83 posted this on another board.
Mickey Fulp & Amir Adnani discuss junior mining and highlight the many reasons GoldMining Inc. is so well positioned to flourish in 2018
It’s a shame the company was run into the ground at the expense of the shareholders here. Q4 numbers released two days ago and numbers seem good considering one of the mines was closed.
I can only imagine how well folks could of been rewarded if we had a better management team at the helm. Now everyone is just lost a lot of $$$
https://www.banro.com/news-events/news-releases/banro-announces-q4-2017-production-results
I got a good lesson this year on this in drc. Mixture of unsafe lack of law and morons running the company.
So I can see what you are saying here. It fact I was nearly put off this due to protest at the mine last year
This was In the comments of the article
Don - On GoldMining and its assets in Columbia. I reached out to Mgnt about details on the matter. It appears that mining in Columbia is managed at the federal level. Local states regularly talk in the press threatening the miners to get more out of them although they have no authority,
zero. They can be a nuisance for sure. There's absolutely no threat to mining in Columbia whatsoever. No pt in mentioning a fake news from one article, IMO.
From seekingalpha article on best 20 mines for 2018
K92 Mining is an emerging mid-tier gold producer in Papua New Guinea. They purchased a past producing mine (2006 to 2009) from Barrick Gold for $2 million, plus $60 million in future payments. The Kainantu mine has about 1.5 million oz at 7 gpt, with extensive exploration potential and an additional 1.3 million oz of historical resources. Once they reach 1 million oz of production, or M&I resources, they have to pay Barrick $20 million (they currently have 250,000 oz M&I). Then they have to pay another $40 million as resources increase in size ($5 million increments for every 250,000 oz). I spoke with them and this will not likely get triggered for at least 7 years. Plus, the agreement expires after 10 years. ??They began production in Q4 2016 at Irumafimpa. The CEO said he expects their cash costs to be about $600 per oz, with all-in costs (free cash flow) around $1000 per oz. They raised about $20 million to resume production. About half is debt, about 1/3 is a gold loan for 20,000 oz (paid over the first 36 months of the mine life), and the rest in equity financing. ??They planned to reach full commercial production of 50,000 annual production in September 2017. However, this has been delayed 30-60 days due to vandalism. This caused their share price to drop. ??In addition to their Irumafimpa mine and mill, which has about a 7-year mine life, they have a second deposit. Kora is already 1 million oz at 7 gpt. They plan to add Kora production of about 100,000 annually to their Irmafimpa mill in 2018. That will take production to 150,000 oz. Plus, they recently found a step out discovery at Kora that is 500 meters away. If that vein connects to Kora, then they just found a lot of gold to expand the mine life. ??Kainantu is a large property (100,000 acres) with a lot of exploration potential. The CEO thinks they could find 8 million oz. If they find half that much, this stock should do really well. They have a solid team and with just a little bit of luck they will be able to grow. The risk/reward looks very good. ??They have a strong board and will likely be successful. The key is going to be exploration and production growth, as well as higher gold prices. Plus, they need to hit their guidance targets for costs and production.
From seekingalpha , last paragraph is news to me...
Goldmining Inc. (previously Brazil Resources) stated strategy is to acquire advanced stage projects. They have done an incredible job achieving that strategy. In 2012, they acquired the Cachoeira project. After their initial drilling, the resource size increased from 750,000 oz to 1.3 million oz (1.2 gpt). Since then they have not attempted to move it to production, or advance any of their other projects towards production.??In 2013, they acquired Brazil Gold and their 1.7 million oz Sao Jorge project. This may now become their first mine. It has a PEA to produce 100,000 oz at $650 cash costs. The after-tax IRR is 33% at $1300 gold, thus it is very economic. I'm waiting for them to give guidance that a feasiblity study is underway. They have $16 million in cash and no debt. ??In 2015, they acquired the Whistler project in Alaska from Kiska Metals. It is a 5 million oz deposit (.5 gpt), with copper offsets. ??In 2016, they acquired the Titiribi project in Colombia from Nova Copper. It is an 8 million oz deposit (.5 gpt), with copper offsets. ??In 2017, they acquired the Yellowknife project in Canada (Northwest Territories) for 4 million shares from Tyhee Gold. It is a 2.2 million oz (2 gpt) resource on 35,000 acres with significant exploration potential. The feasibility study calls for producing 100,000 oz for 15 years. It is not economic to finance at current gold prices, with a 20% pretax IRR at $1400 gold. That's around a 10% IRR post-tax at $1300 gold.??In 2017, they acquired the La Mina project (1.5 million oz) from Bellhaven Gold & Copper for $10 million by issuing shares. They gave Bellhaven shareholders 6% ownership of Goldmining Inc. They only paid a 20% premium, which was a fantastic deal for Goldmining Inc.??In 2017, they acquired the Crucero project in 2017 for 3.5 million shares and $750,000. The price they paid was a steal. It is an advanced 2 million oz (1 gpt) deposit. It's on 4,600 acres in Peru. ??They also have several large properties in Brazil: Maua (25,000 acres), Pireneus (250,000 acres), Apa (500,000 acres), and Artulandia (12,000 acres). Once they get some cash flow, this will likely be a growth company. Their FD market cap has exploded from $36 million to $194 million, but it is still very cheap versus their resources. ??I think this is a company with potential to become a very large company, once they decide to become development company. They have 800,000 acres of exploration targets and an aggressive management team. I get the feeling that they are not for sale (insiders own 25%) and want to grow this company. My concern is that they appear to be more about deal-making than mine building. I'm starting to think it is ironic that they renamed their company to Goldmining Inc. I'm not sure they want to be a mining company. However, worst case I think they will be a 5 bagger from their large projects and potentially more on the way. Once gold prices rise, they are going to have several large advanced economic projects.??Note: 9/16/2017. The jurisdiction for their Titiribi project in Colombia is considering banning all mining. If it passes, not only will Goldmining Inc's share price take a hit, but all development/exploration stocks in Colombia will get downward pressure. Each jurisdiction in Colombia can decide if they want mining.
Great move again by gold today. Putting together a nice run.
All we need here is an announcement. Was hopping it would be by year end but as long as it is coming soon we should be good
Something is after popping :)
I am seeing +.08 at Moment 16.5%
My interactive brokers account has 4.50 target on them ( not sure if CAD or USD ) . Can’t see where they get that price target from.
Ratios
Market Cap181.2M
Revenue/share0
Price/Book2.5
Price/Tangible Book2.5
Return on Equity-16.2%
Analyst Forecasts
Consensus Recommendation Outperform
Target Price4.50
They have until Friday to announce commercial production to hit year end pledge.
On the all in sustained cost I think people want to see it happen before rewarding company. If they can do that then I think we will be richly rewarded for being in early :)
Great movement today , end of tax write off season along with commercial production coming up.
Should lead to a strong recovery into 2018
Great movement today , end of tax write off season. Should lead to a strong recovery into 2018
Can’t see why this is being beaten down so much when most the warrants were exercised and commercial production being announced very soon.
Picked up a few more today
Well there is 14.4 millions shares exercisable in March 2018 @1.00 so I can imagine the company wanted to get hold of that finance.
We should be in production then and know more about output and margins etc
Wow huge move. Over 13 million shares traded 12% plus of OS .
Not sure why the big move if there is no news. Unless some news leaked(anyone hear anything) We are still in the position of paying for two mines with high debt and limited available capital while only receiving income from one.
Anyone understand the sure structure for outstanding warrants on this company? I was under the impression there was around 9.8 million shares available at .50 but email say 20 or so million at .50
HERE
As at May 20, 2016, K92 had 22,136,890 warrants exercisable at $0.50 outstanding. The last of these warrants expired on November 20, 2017.
K92 Reports on Warrant Exercises and Warrant Expiration
more than $2 million in warrant exercises completed during past 10 days
all warrants exercisable at $0.50 have now been exercised or have expired
K92 Mining Inc. (“K92”) is pleased to report it has received warrant exercises with a value in excess of $2 million during the past 10 days.
As at May 20, 2016, K92 had 22,136,890 warrants exercisable at $0.50 outstanding. The last of these warrants expired on November 20, 2017.
Prior to the expiration date, a cumulative total of 16,437,048 warrants were exercised for total proceeds to K92 of $8,218,524. This cumulative total includes in excess of more than $2 million exercised during the last 10 days (all funds in CAD).
During the past month, K92 has reported on continued progress at its Kainantu Gold-Copper project located in Papua New Guinea and has issued updates on production, exploration and expansion. Mining and processing operations are ongoing and two drill rigs are currently operating from underground set-ups with a third more powerful drill rig having recently arrived on site and currently being commissioned.
On Behalf of the Company
John Lewins
Chief Executive Officer and Director
If IIROC staff notice erratic price moves in stocks, they will contact the issuer to see if it has information to explain the movement. Staff may ask the company to issue a news release if they believe that material information is leaking into the market or if they believe rumours are affecting the stock price.
When a company fails to make timely disclosure of material information, the provincial securities regulators can issue a Cease Trade Order (CTO) which stops the trading of the company’s stock. Once issued, a CTO remains in effect until the company meets its disclosure obligations.
For fiscal year ended March 31, 2016, Market Surveillance coordinated 123 Cease Trade Orders (CTOs).
TORONTO, Nov. 21, 2017 /CNW/ - The following issues have been halted by IIROC:
Company: Banro Corp.
TSX Symbol: BAA (all issues)
Reason: CTO
Halt Time (ET): 8:00 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resu
I am pretty happy with this investment. Bought a bit more yesterday . Looks like there will be around 10,000,000 shares added to the float come November 20th.
Anyone care to give an idea of what this could be worth if management follow through on what has been said?
Good news this, takes the pressure off the warrants not getting taken up
http://m.marketwired.com/press-release/-2240562.htm
K92 Ships First Kora Concentrate under new Kora Offtake Agreement Which Includes a Provision for USD $15 Million in Non-Dilutive Capital
- Ships first 146 tonnes of Kora concentrate to Port of Lae with payment for this concentrate received by K92 from Offtaker
- New Offtake Agreement includes provision for Offtaker to provide USD$15 million financing for Kora Expansion
- First 4,000 tonnes of Kora material processed in October resulted in the production of 163 tonnes of concentrate at 143 g/t Au, 196 g/t Ag and 18.4% Cu containing 750 ozs of Au, 1,030 ozs of Ag and 66,000 lbs of copper
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 14, 2017) - K92 Mining Inc. ("K92") (TSX VENTURE:KNT)
Anyone have any insights to k92 finances as of now ? How are they set up if the warrants are not exercised ?
They haven’t updated the presentation page in a long time but you can see one from October 2016 if anyone is interested in it
http://www.k92mining.com/wp-content/uploads/2016/11/K92-Mining-Presentation-November-2016.pdf
Updated one should be much more impressive considering the results from drilling so far