Mine pleased with expansion
K92 Mining, operator of Kainantu gold mine in Eastern Highlands, says it is pleased with its stage two expansion of the mine in the first quarter of this year.
Chief executive John Lewins said the mine had performed well during the quarter.
“We are very pleased with Kainantu’s significant ramp-up momentum for the stage 2 expansion in Q1 (quarter one), including first production from long hole stoping,” Lewins said.
“The mine has performed well. A key focus in Q1 was on further enhancing Kainantu’s underground production capacity for the stage 2 expansion with waste development and lower grade K2 vein development to establish long hole stopping areas."
“Production stopping from our first long hole stop commenced in late Q1. These initiatives position Kainantu for a strong H2 (second half) as noted in our 2020 operational guidance."
“And lastly, we would like to highlight that Kainantu continues to operate in the Covid-19 pandemic environment. While the environment is challenging and dynamic, the commitment of our workforce has been extraordinary."
“As a result of their efforts, we continue to strengthen our already solid financial position in addition to having multiple near-term catalysts including our updated resource, drilling results and PEA study on the next stage of expansion in Q2 (second quarter).”
K92 Mining owns and operates the Kainantu gold mine.
According to the company, the Kainantu gold mine is a high-grade, low cost underground mine.