{"id":1201550,"date":"2020-08-13T16:52:30","date_gmt":"2020-08-13T21:52:30","guid":{"rendered":"https:\/\/www.mining.com\/?p=1032651"},"modified":"2020-08-13T16:52:30","modified_gmt":"2020-08-13T21:52:30","slug":"k92-posts-record-revenues-for-q2-shares-up","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1201550","title":{"rendered":"K92 posts record revenues for Q2, shares up"},"content":{"rendered":"

K92 Mining (TSXV: KNT) recorded its highest ever quarterly revenue for the three months ended June 30, 2020, the Vancouver-based gold miner announced Thursday<\/a>.<\/p>\n

Total revenues for Q2 2020 were $47.9 million, a 105% increase over the same period last year. <\/a>Net income came to $16.9 million or $0.08 per share.<\/p>\n

Over the three-month period, the company generated record operating cash flow (before working capital adjustments) of $30.3 million and EBITDA of $29.7 million.<\/p>\n

By quarter-end, K92 increased its cash holdings by $13.1 million to $34.7 million and reduced debt by $4.2 million to $9.1 million.<\/p>\n

The company also achieved record gold production<\/a> during the quarter at its Kainantu mine in Papua New Guinea despite covid-19 restrictions imposed by the PNG government. The national state of emergency was lifted on June 16.<\/p>\n

Kainantu is expected to continue to take significant steps forward during the second half of 2020, the company said. The preliminary economic assessment (PEA) for a stage 3 expansion was completed last month, outlining a potential “tier 1” asset with about 318,000 oz AuEq of run-rate production annually.<\/p>\n

Shares of K92 Mining were up 6% at market close Thursday, capping the company at a value of C$1.46 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of K92 Mining were up 6% at market close Thursday.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"class_list":["post-1201550","post","type-post","status-publish","format-standard","hentry","category-markets","category-miningcom","category-news"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1201550"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201550\/revisions"}],"predecessor-version":[{"id":1201551,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201550\/revisions\/1201551"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1201550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1201550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1201550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}