10:25 AM EDT, 03/20/2024 (MT Newswires) -- National Bank of Canada on Tuesday ascribed a negative bias with K92 Mining Inc. ( KNTNF ) 's suspension of the Kainantu underground operation in Papua New Guinea after a "non-industrial fatality" on March 10.

K92 has filed an appeal to the government's suspension order due to the non-industrial nature of the incident as well as procedural breaches of the Mining Safety Act.

The bank noted that there were two recent accidents at the mine: a vehicular accident on May 5, 2023, that resulted in two fatalities; and a mine accident on June 28, 2023, that led to two deaths.

National Bank gave K92 an outperform rating with a $8.50 price target.

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