05:31 PM EDT, 10/09/2024 (MT Newswires) -- K92 Mining Inc. ( KNTNF ) after close Wednesday said production from its Kainantu mine in Papua New Guinea rose 69% to a record in the the third quarter.

The company said it mined 44,304 gold-equivalent ounces in the period, up from 26.225, GEOs in the year-prior quarter. The mine produces gold, silver and copper

d record quarterly production results for the third quarter of 2024 at its Kainantu Gold Mine in Papua New Guinea, of 44,304 ounces AuEq or 41,702 oz gold, 1.27 million lbs copper and 37,613 oz silver.

Sales during the quarter were 45,248 ounces of gold, 1.61 million pounds of copper and 46,062 ounces silver.

K92 said it is is "well positioned to meet its guidance" for 2024 of 120,000-140,000 ounces GEOs.

"As we guided to at the beginning of the year, 2H was expected to be the strongest, and it has certainly delivered thus far, with record ounces produced and sold, and record recoveries while benefiting from record gold prices in Q3.," said Chief Executive Officer John Lewins. "Importantly, the results have well positioned the company to meet its 2024 Operational Guidance, while also delivering a notable strengthening to the company's financial position during the Stage 3 Expansion construction, which is very encouraging."

K92 shares closed down $0.25 to $7.85 on the Toronto Stock Exchange.