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K92 Mining Inc. (T:KNT)

Business Focus: Gold Mining

Sector:  Basic Materials Industry:  Gold
Company Contact
Address: 488-1090 Georgia St W
Tel: 1-604-4164445
IR: See website
Key People
David Gregory Medilek
John Derek Lewins
Chief Executive Officer, Director
Justin J. Blanchet
Chief Financial Officer
Warren Uyen
Chief Operating Officer
Christopher James Muller
Executive Vice President - Exploration
Business Overview
K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Kainantu Gold Mine is in the Eastern Highlands Province of Papua New Guinea, approximately 180 kilometers (kms) west-northwest of Lae. The Kainantu Gold Mine includes Kora, Irumafimpa, Karempe, Judd, Kora South, Mati, Maniape and Arakompa. Its mining is focused on the Kora vein system, consisting of two dominant veins, with Judd and Karempe near-mine infrastructure. The mine is serviced by a sealed road from Lae to within eight km of the site, and also has grid power from the nearby Yonki Dam hydro-electric scheme, with full on-site power generation on standby. The underground mine is located on Mining Lease 150, and the process plant, offices, workshops, stores, camp and tailing storage facility are located on a Lease for Mining Purposes 78 (LMP 78).
Financial Overview
For the six months ended 30 June 2023, K92 Mining Inc revenues increased 3% to $92.1M. Net income decreased 28% to $13.8M. Revenues reflect Copper - Production - Total increase of 15% to 1K metric tons. Net income was offset by Exploration and evaluation expenditures increase of 49% to $10.1M (expense), Realized gains increase from $958K to $2.2M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from $0.09 to $0.06.
Employees: 1,000 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $1,211M as of Jun 30, 2023
Annual revenue (TTM): $257.16M as of Jun 30, 2023
EBITDA (TTM): $110.36M as of Jun 30, 2023
Net annual income (TTM): $40.63M as of Jun 30, 2023
Free cash flow (TTM): -$24.53M as of Jun 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 234,288,156 as of Jul 17, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization