K92 Mining Inc (KNTNF)

[douginil]

K92 Mining is pleased to announce the results of the Preliminary Economic Assessment on its Kora gold deposit

[[ Thanks Mason for your find. A link to the company's website with tables & graphics ]]

Vancouver, British Columbia, July 27, 2020 – K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) on its Kora gold deposit (“Kora”), which together with its Irumafimpa gold deposit (“Irumafimpa”) comprise the Kainantu Gold Mine Project (the “Kainantu Project”) in Papua New Guinea. Based on the results of the study, the Company is proceeding to a Definitive Feasibility Study (“DFS”) for the Kora Stage 3 Expansion.
Stage 3 Expansion PEA Study Highlights

- After-tax NPV5% of US$1.5 billion at US$1,500 per ounce gold, increasing to an after-tax NPV5% of US$2.0 billion at US$1,900 per ounce gold.
- Average annual expansion run-rate production of 318,000 ounces gold equivalent (“AuEq”)(1) per annum at 1.0Mtpa, commencing in late-2023, representing a 165% increase from Stage 2 Expansion Life of Mine (“LOM”) average annual production.
- LOM average cash costs of US$353 per AuEq ounce and AISC(2) of US$489 per AuEq ounce.
- Low cash costs of US$202 per gold ounce and AISC costs of US$362 per gold ounce net of by-product credits.
- Initial pre-expansion capital cost of US$125 million and life of mine sustaining capital cost of US$341 million with all capital costs fully funded by existing Stage 2 Kainantu mine cash flow.
- Mine life of 12 years, including ~3 years of Stage 2 production (2021 to late-2023).

Read more at:
https://k92mining.com/2020/07/k92-mining-inc-announces-robust-kora-stage-3-expansion-pea/