K92 Mining Inc (KNTNF)

[PhxBrad]

Previously understood. I read about the one time, FOG situation. I also understand that this would raise the AISC for this quarter. I get that.

Sure. Problems crop up. They do in any business. K92 has had issues with the locals, vandalism, now the FOG issue. Shit happens.

BUT. For years I have been reading about how management believed that this mine should have AISC of below $700. That was BEFORE stumbling into Kora North. That AISC estimate equates to a profit of above $500 per ounce produced. That is a gigantic number.

Then Kora North. That surprise should logically lower the AISC even more.

At an AISC of $800, or this quarter at $894, profit takes a huge hit.

Are they making money regardless ? Yes. Are they self funding their exploration program ? Yes. That is the really good news ! K92 is making money every single quarter, regardless of what happens. They can have major issues and drill tons of holes in the ground, and they still are making money.

Like I have said before. I am anxiously awaiting the new PEA, the justification for doubling production and I will be looking very hard at the AISC numbers AND I am expecting them to drop each and every quarter from here on out.

When K92 is making over $2 million a month in profit, then this will be the monster that we think it is. They have been close, but they aren't there yet. And with the FOG issue this quarter they aren't even in the ballpark of $2M. $2M a month is my unofficial number that I am waiting for.

Long-time Long $KNTNF.