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K92 declares commercial production at Kainantu gold mine

K92 Mining Inc. said Feb. 7 that its Kainantu gold-silver mine in Papua New Guinea achieved commercial production Feb. 1.

The mine produced more than 2,700 ounces of gold equivalent in January, and total cash costs for that month are expected to be below US$850/oz of gold equivalent.

The company said the mine achieved a minimum of 60% of designed gold production and a minimum of 90% of designed metal recovery from the process plant over 30 days.

Production levels from the Kora North deposit will continue to build, and design levels are expected to be achieved during the June quarter when the first long hole stope production begins.