07:46 AM EDT, 05/12/2025 (MT Newswires) -- K92 Mining ( KNTNF ) on Monday reported a surge in first-quarter net income as the company booked its second-highest quarterly production amid record gold prices.

K92 posted a record net income of US$70.2 million, or US$0.29 per share, jumping 2,190% from the year-ago quarter and beating the analyst consensus projection of US$0.23 per share compiled by FactSet.

The company's revenue climbed 142% to a record US$144.6 million, above the analyst consensus sales estimate of US$129.8 million compiled by FactSet.

Production increased 74% to 47,817 gold equivalent ounces, comprising 45,735 ounces of gold, 1.1 million pounds of copper and 34,085 ounces of silver.

"K92 has delivered a strong start to 2025, continuing the positive momentum from the second half of 2024, with robust operational and financial results across the board," CEO and director John Lewins said. "Combined with the record gold price environment, it resulted in record revenue, net income, EBITDA, and operating cash flow."

The company's share price rose 2.2% on Friday to $13.33 on the TSX.