K92 Mining Inc. announced strong production results for the third quarter of 2025 from its Kainantu Gold Mine in Papua New Guinea, as the company continues to make progress on its major Stage 3 expansion.
The company produced 44,323 ounces of gold equivalent (AuEq) during the quarter, including 42,244 ounces of gold, 1.3 million pounds of copper and 34,831 ounces of silver. Sales reached 45,006 ounces of gold, 1.48 million pounds of copper and 43,271 ounces of silver.
With more than 80 percent of the lower end of its yearly target already achieved and an additional 4,893 ounces of gold equivalent in its commissioning stockpile, K92 said it remains on track to meet its 2025 production guidance of 160,000 to 185,000 ounces AuEq.
The company processed 137,172 tonnes of ore in the quarter, a 31 percent increase from the same period last year, with an average gold grade above budget. Metallurgical recoveries were also strong, reaching 95 percent for gold and 94.6 percent for copper.
K92 reported record mine output of 353,770 tonnes of material, with several daily production records set in late September. The company credited this to efficiency improvements such as the completion of its first “material pass,” which allows ore and waste to be moved more efficiently from underground to surface.
Stage 3 Expansion on Schedule
Construction of the new Stage 3 Process Plant, capable of handling 1.2 million tonnes of ore per year, has been completed ahead of budget. The plant is now in the commissioning phase, with the first gold pour and concentrate production expected in the first half of the fourth quarter of 2025.
As of the end of September, 90 percent of Stage 3 expansion capital had been spent or committed, and the project remains within budget. Work also continues on the pastefill and tailings plants, ventilation systems and new underground connections aimed at boosting productivity and safety.
K92 said commissioning of the pastefill circuit is scheduled to begin in mid-2026, while other upgrades such as new power generation systems and tele-remote loaders have already been completed.
Chief Executive Officer John Lewins said the results reflect the company’s steady progress toward becoming a mid-tier gold producer.
“The third quarter marked another strong period of progress for K92 both in terms of production and continued execution of the Stage 3 Expansion,” he said.
Lewins added that the completion of the new plant marks “an exciting period in the company’s history as K92 transitions into a Tier-1, mid-tier producer.”
“Ore has already been introduced into the crushing, grinding, and flotation circuits of the new process plant, keeping us firmly on track for practical completion of commissioning and the first gold pour and concentrate production in the first half of Q4 2025,” he said. “Importantly, the team has built the process plant under budget, representing a significant achievement.”
He also highlighted the company’s progress on multiple projects that support future growth.
“We are also very pleased with the significant advancement we have made across a multitude of projects, de-risking the delivery of the Stage 3 Expansion and positioning the underground mine for Stage 4 and beyond,” Lewins said.
He added that with most of the capital already spent and strong quarterly output achieved, K92 is confident of meeting its full-year goals.
“Having already delivered 80% of the lower end of our annual guidance within the first three quarters plus a commissioning stockpile of 4,893 oz AuEq at the end of Q3, we are well-positioned to achieve our 2025 production guidance,” he said.
