K92 Mining reported record quarterly revenue of $144.6 million for the first quarter (Q1) of 2025, a 142 per cent increase compared to the same time last year.
The company reported a net income of $70 million, a substantial increase from the $3.07 million reported in Q1, 2024, and a record operating cash flow of $80.9 million.
“K92 has delivered a strong start to 2025, continuing the positive momentum from the second half of 2024, with robust operational and financial results across the board,” K92 chief executive officer and director John Lewins said.
“Q1 marked our second-highest production quarter. Combined with the record gold price environment, it resulted in record revenue, net income, EBITDA (earnings before interest, taxes, depreciation and amortisation), and operating cash flow.”
Quarterly ore processed hit 103,449 tonnes (t), with total ore mined sitting at 104,052t, with long hole open stoping performing to design, and 2494m of total mine development.
“Importantly, construction of the 1.2 million tonnes per annum (mtpa) stage three expansion process plant is progressing well, with the SAG and Ball Mill installations completed in April,” Lewins said.
“Commissioning of the new plant is expected to commence in the coming weeks, marking a major milestone in K92’s transformation to a Tier 1 mid-tier producer. As at the end of April, 77 per cent of stage three expansion capital is spent or committed, and the process plant is 87 per cent complete.
“With a new heli-portable rig arriving mid-year to target the northern extension, and two additional surface drill rigs recently ordered, we are well positioned to aggressively advance Arakompa and pursue additional regional targets. We look forward to providing further updates as the year progresses.”
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