Kingston Resources has released its report for the December 2023 quarter as the company continues to progress the Misima gold project.
The site is located on Misima Island, 635km east of Port Moresby. Gold was discovered on the island in 1888 and Kingston is now readying it for mining.
The company said it remains committed to realising the best value from the Misima gold project, which centres around bringing the project into production.
Kingston has also been in discussions with numerous interested parties in relation to potential partnerships and development arrangements.
“The past three months have continued to be a period of significant achievement for Kingston Resources,” Kingston managing director Andrew Corbett said.
“With the successful milestones achieved and ongoing efforts, Kingston Resources is optimistic about the future and the opportunities that lie ahead.”
The current focus at Misima is prioritising environmental and social impact assessment reports, strategic funding and development strategies.
“Placer Pacific operated Misima as a profitable open pit mine between 1989 and 2001, producing over 3.7 million ounces before it was closed when the gold price was below $US300/ounce,” Kingston said.
“The Misima project also offers great potential for additional resource growth through exploration success targeting extensions and additions to the current resource base.”
In terms of safety, Kingston reported no environmental or safety incidents during the quarter.
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