K92 Mining (KNT.V), the company which is trying to restart the Kainantu gold mine in Papua New Guinea is rapidly advancing towards producing its first gold-copper concentrate. An important piece of the puzzle was to find a buyer for the anticipated concentrate production, and as K92 has now signed an offtake agreement with Interalloys Trading whereby the latter commits to purchase the concentrate during the first three years of the production whereby all three main products of the Kainantu mine (gold, copper and silver) will be payable.
The offtake agreement is very positive news, but let’s also not forget the company is making tremendous progress on the ground as well, as the crushing plant is currently being commissioned at a rate of 95 tonnes per hour which is substantially higher than the expected mill rate of 25 tonnes per hour. This seem to indicate there won’t be a bottleneck issue at the crushing stage, considering the capacity of the crusher is almost four times as high as the nameplate capacity of the mill.
Go to K92’s website
The author has a long position in K92 Mining. K92 Mining is a sponsor of the website. Please read the disclaimer
