K92 Mining Named to TSX Venture Exchange “Venture 50”
K92 Mining Inc. is pleased to announce it has been named to the TSX Venture Exchange’s 2020 Venture 50, which is an annual ranking of top performing companies from five industry sectors: Mining, Oil & Gas, Clean Technology and Life Sciences, Diversified Industries, and Technology. K92 is ranked second in the Mining category.
The Venture 50 ranking is comprised of the strongest companies on TSX Venture Exchange, selected based on the equally weighted criteria in 2019 of: share price appreciation, trading volume amount and market capitalization growth. Selected Venture 50 companies have seen tremendous growth over the past year, offered excellent returns to their shareholders and are actively traded in the market.
The strong market performance of K92 over the past year has been underpinned by strong fundamental growth and business plan execution. Ongoing production, expansion and exploration at the high-grade Kainantu Mine has attracted a growing roster of institutional investors to K92, and the Company will be attending both the upcoming BMO Metals and Mining Conference from February 23-26 in Florida, United States and the Prospectors & Developers Association of Canada (PDAC) Conference from March 1-4 in Ontario, Canada.
K92 Chief Executive Officer, John Lewins, stated, “During 2019, K92 increased gold equivalent production 74% from the previous year, exceeded the top end of our upgraded annual production guidance, and made significant progress from exploration, both near-mine and regionally. From a production perspective, we are well underway with our Stage 2 expansion announced in March 2019, which will double our throughput from 200,000 tpa to 400,000 tpa. In exploration, the number of drill rigs increased three-fold from 2018, resulting in accelerated lateral and vertical deposit extent growth at Kora / Kora North while also making considerable progress regionally at Blue Lake. Highlight drill results from Kora North in 2019 also set new record high grades at the Kainantu Gold Mine. This momentum has continued in 2020, with drill results reported recently that resulted in a significant increase to known mineralization along strike to the south, in addition to high-grade intersections up-dip and down-dip of the October/2018 resource estimate.
We have also released our 2020 production guidance, where we expect to grow production by 34-46% year over year, with gold equivalent production of between 110,000 and 120,000 ounces. During the first half of 2020, K92 plans to complete an updated resource estimate for Kora / Kora North and a Stage 3 Expansion Preliminary Economic Assessment (“PEA”).”