K92 Mining Inc (KNTNF)

[MemoryLeaks]

Good 30 + minute interview with John Lewins.

Description
In this episode we chat to John Lewins, CEO of K92 Mining Inc, a gold mining producer with an operating mine in Papua New Guinea. We talk about how the company has progressed, how it has achieved its incredible results, and what plans they have for the future.

We discuss what opportunity challenges and opportunity lie within Papua New Guinea, and how the mining industry can develop in the country.

KEY TAKEAWAYS

With the low, sustaining costs they have, K92 are generating good cash flow, and next year is predicting cashflow in excess of eighteen million US dollars.
K92 have exploration on their mining lease, including five diamond drilling rigs; two from the surface and three underground. This allows three thousand a month in diamond drilling from the combined five rigs.
Papua New Guinea has some of the best geology in the world, but there are three fundamental challenges there:
Climate - Very high rainfall area.
Geography/Topography - Many mines are in the highlands or on islands, which makes building mining infrastructure difficult.
Community - Eight million people speaking eight hundred languages.
PNG has less than two hundred thousand taxpayers out of eight million people, which means that many people there are subsitence farmers. Land is incredibly important, therefore, and so mining can prove very challenging.
Jobs are very important. The future is also crucial. Education is highly desirable, and so can prove an effective tool in getting communities on side.
.BEST MOMENTS

‘All of the exploration work we want to do is funded from our own cashflow’

‘We’re looking to take that to five million ounces by Q1’

’We get about eight to ten metres of rainfall per year’

‘Land is incredibly important'



The Challenges Of Papua New Guinea – with John Lewins