Business
K92 Mining Provides Operational Update
VANCOUVER, British Columbia, Feb. 27, 2023 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is providing an operational upd
About this update from K92 Mining, Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 27, 2023 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is providing an operational update for its Kainantu Gold Mine in Eastern Highlands Province, Papua New Guinea. During the month of February, the process plant has experienced two notable unplanned maintenance events that cumulatively will have an impact on February and First Quarter production. In early February one of the mill trunnion bearings failed, requiring immediate replacement and resulting in two days downtime, although planned maintenance of other plant equipment was carried out during the stoppage. On February 20th, a limited electrical fire in a cable tray resulted in damage to a number of cables feeding the wet section of the process plant. The cables were all replaced by February 25, and the plant was brought back online and has operated normally since restarting. Although the above incident resulted in a total of 8 days downtime and will impact production for the first quarter, it is not expected that there will be any impact on the 2023 guidance. John Lewins, K92 Chief Executive Officer and Director, stated, “We are obviously disappointed to have two unplanned incidents in a short period of time, which has impacted our short-term production. However, I am extremely pleased at the manner in which our teams have responded and been able to quickly effect repairs and restart operations. Our preparation for these unplanned events in terms of holding critical spares, availability of necessary skills within the Company and commitment of our people has been exceptional. That the process plant has been brought back into production so quickly after each event is a testament to their skills and hard work.” About K92 K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position. A maiden resource estimate on the Blue Lake porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience. On Behalf ...