Kingston Resources Release Quarterly Report

by PNG Business News - July 28, 2022

Photo credit: Kingston Resources

Kingston Managing Director, Andrew Corbett, said: “The June quarter has been another period of significant activity, with the headline being the announcement of Misima’s much anticipated DFS results confirming the Project’s potential for a large-scale, long-life, low-cost gold mine. The DFS delivered total production of 2.4Mozs at an extremely low all-in sustaining cost of A$1,217/oz over a 20-year mine life, alongside a 28% increase in Reserve. I’m extremely proud of our Misima team for delivering such a highquality, comprehensive study, in a challenging operational environment.

“The DFS represents a tremendous milestone for Kingston, and these achievements reflect incredible work from our technical and operational teams who have exceeded project expectations. With all the necessary foundations now in place for a return to gold production at Misima, we look forward to advancing all the necessary approvals, strategic and funding options to bring the mine to production. I would like to thank our loyal shareholders for their ongoing support enabling us to deliver this milestone, and, very importantly, our Misima community who have strongly supported our progress.

“In addition, the Company has made considerable progress at the Mineral Hill Gold & Copper Mine during the quarter, delivering excellent initial diamond and RC drilling results at both the Pearse and SOZ deposits. With the conclusion of our highly successful initial drilling program, the team is now underway on a number of work programs to expedite mine production, these include Resource and Reserve updates, mine design work and plant refurbishment studies. This exciting progress forms part of the Company’s recently announced development pathway which comes as a result of the rapid advancements at the project. We look forward to another successful quarter ahead as we continue to rapidly advance both our Misima and Mineral Hill Projects.”

 

The full report can be found HERE



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