K92 mining reports strong q2 2026 production results

Kainantu Stage 3 Expansion Process Plant, Papua New Guinea.

K92 Mining Ltd, the operator of the Kainantu Gold Mine in Eastern Highlands Province, has reported on July 8 its second quarter ("Q2") results, with 46,093 ounces gold equivalent ("AuEq") produced in Q2 2026. The company reiterates its 2026 annual production guidance of 190,000 to 225,000 oz AuEq, with production expected to be strongest in the second half of

2026, driven by the progressive ramp-up in ore tonnes delivered from two new mining fronts and the completion of key expansion enabler projects.

Kainantu achieved record quarterly ore processed of 225,965 tonnes, a 73 per cent increase from Q2 2025 and 59 per cent increase from Q1 2026, with a head grade of 6.7 g/t AuEq, or 6.2 g/t gold, 0.4 per cent copper and 8.9 g/t silver. Metallurgical recoveries continued to perform well, achieving 93.8% for gold and 93.2 per cent for copper. The new 1.2 million tonnes-per-annum Stage 3 Expansion Process Plant has continued to perform well since completion of commissioning in December

2025.

Record quarterly mine development of 3,326 metres was achieved during the quarter, a 35 per cent increase from Q2 2025 and 11 per cent increase from Q1 2026, including a new monthly development record of 1,150 metres in May 2026. Lateral development rates continue to exceed the Stage 3

Expansion requirement of 1,000 metres per month. Kainantu also achieved record quarterly total material mined of 426,012 tonnes and record quarterly ore mined of 228,254 tonnes, supported by the introduction and progressive ramp-up of Lower Kora, the second mining front, and the completion of several key expansion enabler projects.

The Stage 3 Expansion continues to advance well, with 98% of growth capital spent or committed and the project remaining on budget. Key progress during the quarter included the completion of the second material pass, completion of the Phase 2 Power Station Expansion, continued advancement of the Phase 4 Primary Ventilation Upgrade and pastefill infrastructure, and major surface haul road and river crossing works. The Baupa Bridge was completed in April, while the Kokomo Bridge and Kasese crossing remain targeted for completion in mid- Q3, supporting increased material movement capacity and future throughput requirements.

John Lewins, K92 Mining's chief executive officer, said: "Q2 was another strong quarter for Kainantu, with production of 46,093 ounces gold equivalent and multiple record mine physicals achieved, including record quarterly lateral development, ore tonnes mined, total material mined and ore tonnes processed. 

“Importantly, we saw continued positive momentum in the underground mining ramp-up, with Lower Kora delivering first stope ore in April and progressively ramping up over the remainder of the year. The new Stage 3 Expansion Process Plant also continues to perform well, achieving record throughput and strong metallurgical recoveries.