K92 boss John Lewins said his company was "extremely pleased" to have closed out this final part of the original financing agreement with CRH which provided the funds used to refurbish the process plant and mine, allowing the company to restart the Kainantu mine.
"This follows on from the payment to Barrick Gold Corporation reported on August 27, 2019, which eliminated the contingent payment arrangements under the terms of the Barrick share sale agreement," Lewins said.
Lewins added that this placed K92 in an excellent position going forward, with the mine expansion well under way and production on target to meet guidance for 2079.
"The strong positive cash flow from the operation puts K92 in a strong position to aggressively implement its exploration and development plans for the Kainantu Gold Mine and the surrounding exploration area."
