07:22 AM EDT, 10/08/2025 (MT Newswires) -- K92 Mining Inc. ( KNTNF ) on Wednesday announced production results for the third quarter of 2025 from its Kainantu Gold Mine in Papua New Guinea.

On Stage 3 expansion, KNT cited "significant progress made" with the construction of the Stage 3 plant complete, commissioning "well-advanced", and a first gold pour and first concentrate production "on track" for the first half of Q4 2025.

Among Q3 2025 production results highlights, KNT cited "strong" quarterly production of 44,323 ounces gold equivalent or 42,244 oz gold, 1,323,538 lbs copper and 34,831 oz silver. It had quarterly sales of 45,006 oz gold, 1,480,151 lbs copper and 43,271 oz silver. With more than 80% of the lower end of annual guidance achieved in the first three quarters, plus ending Q3 with a 4,893 oz AuEq commissioning stockpile in line with the Stage 3 Expansion requirements (28,702 tonnes at 5.3 g/t AuEq or 5.0 g/t gold, 0.24% copper, and 11.9 g/t silver), the company said it "remains on track" to meet its 2025 production guidance of 160,000-185,000 oz AuEq.

KNT also noted quarterly ore processed of 137,172 tonnes, a 31% increase from Q3 2024, with a head grade of 11.2 grams per tonne AuEq, or 10.7 g/t gold, 0.47% copper and 10.3 g/t silver. It said head grade during the quarter was above budget, benefitting from a positive gold grade reconciliation versus the latest independent mineral resource estimate (September 12, 2023 effective date for Kora and Judd).

The company cited "strong" metallurgical recoveries in Q3 of 95.0% for gold and 94.6% for copper, saying the process plant has now delivered six consecutive quarters exceeding the updated definitive feasibility study recovery parameters for both gold (92.6%) and copper (94.2%) (January 1, 2024 effective date).

KNT noted record total material mined (ore plus waste) of 353,770 tonnes, with multiple tonnes to surface daily records (ore plus waste) in late-September, including 5,769 tonnes on September 27 and 6,404 tonnes on September 29, "demonstrating the increased material movement benefits realized from the commissioning of the first material pass during the quarter combined with the commencement of surface trucks operating in the twin incline". It also noted total mine development was 2,477 metres, saying the operation "continues to balance lateral development priorities between the completion of key underground projects, including prioritizing low equivalent lateral advance jumbo activities such as the Puma Ventilation Drive and the underground pastefill chamber."

Also, it cited total ore mined of 152,485 tonnes, the second highest on record, with mining activity across 13 levels, including the 1090, 1110, 1225, 1325, 1345, and 1365 levels at Kora, and the 1010, 1030, 1050, 1170, 1185, 1325, 1345 and 1385 levels at Judd, long hole open stoping performed to design.

John Lewins, K92 Chief Executive Officer and Director, said, "The third quarter marked another strong period of progress for K92 both in terms of production and continued execution of the Stage 3 Expansion. With the commissioning of the new 1.2 million tonnes-per-annum Stage 3 Expansion Process Plant nearing completion, this marks an exciting period in the company's history as K92 transitions into a Tier-1, mid-tier producer.

"Notably, ore has already been introduced into the crushing, grinding, and flotation circuits of the new process plant, keeping us firmly on track for practical completion of commissioning and the first gold pour and concentrate production in the first half of Q4 2025. Importantly, the team has built the process plant under-budget, representing a significant achievement.

"We are also very pleased with the significant advancement we have made across a multitude of projects, de-risking the delivery of the Stage 3 Expansion and positioning the underground mine for Stage 4 and beyond. The recent string of daily records in total tonnes to surface moved (ore + waste) demonstrates that productivity and efficiency projects are now having a tangible impact on mine performance. Additionally, critical contracts were awarded, and construction works advanced, for all major pastefill infrastructure, with commissioning targeted to commence mid-Q1 2026. With 90% of Stage 3 growth capital already spent or committed, the expansion remains fully funded and on budget.

"Having already delivered 80% of the lower end of our annual guidance within the first three quarters plus a commissioning stockpile of 4,893 oz AuEq at the end of Q3, we are well-positioned to achieve our 2025 production guidance."