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K92 Mining announces year-end financial results

Mining News - Published on Tue, 23 Apr 2019

Image Source: k92mining.com
K92 Mining Inc announced results from its annual financial statements for the year ended December 31, 2018. Mr John Lewins, K92 Chief Executive Officer and Director, said “The fourth quarter of 2018 saw production from the Kora North deposit of 16,844 oz AuEq, a record-setting quarter (that has since been surpassed in Q1 2019). We achieved our annual all-in sustaining cost and beat our annual production guidance for 2018 resulting in strong cash flow for the year. In looking ahead to 2019, we expect to have a strong year in which we are forecasting production to be between 68,000 and 75,000 ounces of gold.”

Highlights

Generated cash flow from mining operations of USD 18.1 million

Improved balance sheet with an increase in cash to USD 6.2 million and working capital of USD 4.0 million

No lost time injuries recorded in the year ended December 31, 2018.

Source :

Posted By : Rabi Wangkhem on Tue, 23 Apr 2019
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