07:09 AM EST, 01/23/2025 (MT Newswires) -- K92 Mining ( KNTNF ) on Thursday released a production outlook of 160,000 to 185,000 ounces gold equivalent for 2025, an increase from the record 149,515 ounces produced last year.

The increase will be driven by the commissioning and ramp-up of the new 1.2-million-tonnes-per-annum Stage 3 Expansion process plant scheduled to commence in the second half of the second quarter of 2025.

The company forecast all-in sustaining costs of US$1,460 to US$1,560 per ounce of gold, on a net of by-production credit basis.

K92 has planned a large exploration program, with US$17 million to US$20 million projected for 2025.

Growth capital is forecast to be US$105 million to US$110 million in 2025, up from US$102 million spent in 2024.

"There is tremendous enthusiasm internally, amongst our various stakeholders including in Papua New Guinea for the year ahead as K92 transforms into a Tier 1 Mid-Tier Producer with the delivery of the Stage 3 Expansion," said K92 CEO John Lewins.