K92 Mining has reported strong fourth quarter and full year 2025 financial results, underscoring robust production and financial performance at its Kainantu Gold Mine in Papua New Guinea.
The company delivered record results across key metrics, with both production and earnings significantly ahead of prior year levels and guidance ranges.
In the three months to December 31, 2025, K92 posted solid quarterly output of 47,178 ounces gold equivalent, driven by strong ore throughput and recoveries following the commissioning of its new 1.2 million tonnes per annum Stage 3 expansion process plant.
Cash costs remained competitive at $US768 per ounce with all-in sustaining costs at $US1,619 per ounce.
For the full year, K92 achieved record annual production of 174,134 oz gold equivalent, placing output at the upper end of its guidance range and marking a 16 per cent increase on 2024 levels.
Financially, the company reported record annual revenue of $US595.2 million, a 70 per cent uplift year-on-year, alongside record net earnings and operating cash flow.
K92 also ended the year with a net cash position of $US230.9 million, providing solid balance sheet strength heading into 2026.
The results reflect the successful commissioning and performance of the Stage 3 expansion and strong operational execution throughout the year. Higher ore processed, improved head grades and metallurgical recoveries contributed to the company’s overall outperformance.
“2025 was a transformational year for K92, delivering record annual revenue, cash flow, earnings and net cash, with production at the upper end of guidance and costs outperforming guidance,” K92 chief executive officer John Lewins said.
“These results reflect strong operational execution and the continued robust performance of the Kora and Judd deposits.”
K92’s performance underlines its growing contribution to PNG’s resources sector, reinforcing the company’s capacity to deliver value while advancing production and expansion initiatives in one of the nation’s most significant gold-copper mining operations.
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