07:23 AM EDT, 04/08/2025 (MT Newswires) -- K92 Mining ( KNTNF ) said Tuesday its gold equivalent production increased 74% in the first quarter.

The company produced 47,817 ounces of gold equivalent from the Kainantu mine in Papua New Guinea, exceeding budget and jumping from 27,462 ounces of gold equivalent. K92's first-quarter output included 45,735 ounces of gold, 1.1 million pounds of copper, and 34,085 ounces of silver.

"We are very pleased with the strong start to 2025, delivering our strongest Q1 to date," said John Lewins, K92's CEO.

K92 said it continues to advance the stage 3 expansion of the Kainantu mine, with commissioning of the new 1.2 million-tonne-per-annum process plant set to commence in the second half of this quarter.

The company also set a new monthly development advance record in March of 954 meters, 6% greater than the previous monthly record set in the fourth quarter of 2024.

K92's share price closed 0.8% higher on Monday to $11.19 on the TSX.