K92 Mining TSXV:KNT

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4 years 8 months ago #117442 by alexgreat
alexgreat replied the topic: K92 Mining TSXV:KNT
Been quiet here for months, sure did pull back which is good because I got in below $1. They announced a power agreement for the mine in late December so things moving along nice.

K92 Mining Inc. has concluded a power supply agreement (PSA) with the state utility company of Papua New Guinea, PNG Power (PPL), for the supply of power to the K92 site located in the Eastern Highlands of Papua New Guinea. The PSA is in place for an initial period of five years and is renewable for a further five years upon the agreement of both parties.

Highlights:

Initial contract is for five years with a renewal clause for a further five years;

Power to be supplied at a competitive rate and locked in for the initial five-year period;

PPL has agreed to finance a 500,000-kina capital program aimed at increasing the reliability of power to K92's site;

K92 has installed a new main-process-plant switchboard on site, ensuring limited disruption to operations during any switchovers to standby power (available at site) should PPL power be interrupted.

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5 years 1 month ago #81822 by lynnsa10
lynnsa10 replied the topic: K92 Mining TSXV:KNT
Not surprised with a pull back after such a strong run, it looks like $1.85 area has some support. A drop below $1.80 could mean a further correction to fill some of that gap up.

Am thinking to buy some more here and more on any further decline.

In bull markets - buy the dips , so they say

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5 years 1 month ago #1782 by RonS
RonS replied the topic: K92 Mining TSXV:KNT
Nothing wrong with taking profits. Now at about $1.90 with 75.5M shares out at $1.00, less the $16M cash, the market is pricing this C$127M or approximately US$98 million.

With all the work and infrastructure I think it is fair to include half the inferred resources of 1.84 million. Thus we have 920,000 ounces plus the 240,000 ounces indicated.
Enterprise value of $98 million / 1,160,000 ounces = $84 per ounce.

Not as low valuation as it was but for high grade ounces and all the infrastructure present still very reasonable

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5 years 1 month ago #719 by RonS
RonS replied the topic: K92 Mining TSXV:KNT
With management that has built big miners and a very good asset to start, this could go a long way given some time. I see today that Barrick is still selling off good assets, Looks like they are totally retrenching from that corner of the Globe down under

au.news.yahoo.com/thewest/wa/a/32175847/...on-the-market/#page1

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5 years 1 month ago #715 by kfbuff@ptd.net
kfbuff@ptd.net replied the topic: K92 Mining TSXV:KNT
Thanks Ron, I got in at an average of 1.15 cnd and then just bought again yesterday. This one feels good. I'll let rise with the price of gold.

Regards,

Fred

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5 years 1 month ago #714 by kalen9999
kalen9999 replied the topic: K92 Mining TSXV:KNT
I took profits at $1.95. Probably will get back in on a pull back if it comes.

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5 years 1 month ago #712 by DearJohn
DearJohn replied the topic: K92 Mining TSXV:KNT
Awesome pick, another good one for my portfolio. This thing should have more legs as production picks up. Sounds like production costs will be low, I am in long term for a 10 bagger

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5 years 1 month ago #711 by ron
ron replied the topic: K92 Mining TSXV:KNT
Thanks Ron,i'm out for a profit,Will be buying again the dips.

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5 years 1 month ago #709 by Gambler
Gambler replied the topic: K92 Mining TSXV:KNT
Thanks Ron, another big winner and in short term, interesting Ian Stalker from Goldfields runs K92 and sold another company he took from grassroots, selling forr $2.5 billion Alex Davidson was XVP Barrick Gold when Barrick bought the property and joined K92 shortly after K92 got the project. He must have known it was a good project

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5 years 1 month ago - 5 years 1 month ago #707 by RonS
RonS created the topic: K92 Mining TSXV:KNT
KNT just started to trade in late May. They bought the Kainantu Mine in Papua New Guinea from Barrick Gold for a $2 million cash payment, a tiny fraction of the US$141.5 million Barrick paid for the property in 2007 before spending another US$141 million developing the property. Barrick had to start casting off assets and reducing debt as the gold price was pounded down and Barrick's Balance sheet was in trouble.

Barrick paid the high price for not just the infrastructure as a past producer, but more for exploration potential. The project includes 410 square kms of exploration ground.
Barrick upgraded all the infrastructure, and most important they put in a wide adit at a much lower level to access the ore body
.
The project is permitted and estimated it can produce 50,000 ounces per year – starting later 2016. At 50,000 ounces it was small potatoes for Barrick, but it is an awesome start for a junior. The mine is high grade so mining and production costs will be among the lowest in the world.

The company might not be well known but management certainly is with a very good track record

www.bnn.ca/video/k92-mining-revives-an-old-barrick-asset~915499
Last Edit: 5 years 1 month ago by RonS. Reason: add link

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