K92 Mining Inc. Named to 2020 OTCQX Best 50
22 January 2020 - 12:00AM
K92 Mining Inc. (“
K92” or the
“
Company”) (
TSXV: KNT, OTCQX:
KNTNF) is pleased to announce it has been named to the
2020 OTCQX® Best 50, a ranking of top performing companies traded
on the OTCQX Best Market last year.
The OTCQX Best 50 is an annual ranking of the
top 50 U.S. and international companies traded on the OTCQX market.
The ranking is calculated based on an equal weighting of one-year
total return and average daily dollar volume growth in the previous
calendar year. Companies in the 2020 OTCQX Best 50 were ranked
based on their performance in 2019.
K92 Chief Executive Officer, John Lewins,
stated, “K92 is extremely pleased to be named in the OTCQX® Best 50
for the second consecutive year. This reflects our operational
performance during 2019 in which K92 increased gold equivalent
production 74% from the previous year, exceeded the top end of our
upgraded annual production guidance, and made significant progress
from exploration, both near-mine and regionally. From a production
perspective, we are well underway with our Stage 2 expansion,
announced in March 2019, which will double our throughput from
200,000 tpa to 400,000 tpa. In exploration, the number of drill
rigs increased three-fold from 2018, resulting in accelerated
lateral and vertical deposit extent growth at Kora / Kora North
while also making considerable progress regionally at Blue Lake.
Highlight drill results from Kora North in 2019 also set new record
high grades at the Kainantu Gold Mine. K92 will soon be publishing
2020 production guidance and during the first half of 2020 plans to
complete an updated resource estimate for Kora / Kora North, and a
Stage 3 Expansion Preliminary Economic Assessment (“PEA”).”
For the complete 2020 OTCQX Best 50 ranking,
visit https://www.otcmarkets.com/files/2020_OTCQX_Best_50.pdf.
The OTCQX Best Market offers transparent and
efficient trading of established, investor-focused U.S. and global
companies. To qualify for the OTCQX market, companies must meet
high financial standards, follow best practice corporate
governance, and demonstrate compliance with applicable securities
laws.
About K92 Mining
K92 Mining Inc. is engaged in the production of
gold, copper and silver from the Kora and Kora North deposits of
the Kainantu Gold Mine in the Eastern Highlands province of Papua
New Guinea, as well as exploration and development of mineral
deposits in the immediate vicinity of the mine. The Company
declared commercial production from Kainantu in February 2018 and
has commenced an expansion of the mine. An updated Preliminary
Economic Assessment on the property was published in January 2019.
K92 is operated by a team of mining company professionals with
extensive international mine-building and operational
experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and
Director
For further information, please contact David
Medilek, P.Eng., CFA at +1-604-687-7130.
www.k92mining.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION: This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. All statements that address future
plans, activities, events, or developments that the Company
believes, expects or anticipates will or may occur are
forward-looking information, including statements regarding the
realization of the preliminary economic analysis for the Project,
expectations of future cash flows, the proposed plant expansion,
potential expansion of resources and the generation of further
drilling results which may or may not occur. Forward-looking
statements and information contained herein are based on certain
factors and assumptions regarding, among other things, the market
price of the Company's securities, metal prices, exchange rates,
taxation, the estimation, timing and amount of future exploration
and development, capital and operating costs, the availability of
financing, the receipt of regulatory approvals, environmental
risks, title disputes, failure of plant, equipment or processes to
operate as anticipated, accidents, labour disputes, claims and
limitations on insurance coverage and other risks of the mining
industry, changes in national and local government regulation of
mining operations, and regulations and other matters.. There can be
no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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