K92 Mining reports second highest annual net income on record in 2022 K92Mining
- On Thursday, K92 Mining announced record annual production of 122,806 gold equivalent ounces in 2022, up 18% from 2021 and within the guidance range of 115,000 to 140,000 gold equivalent ounces.
K92 also reported record annual revenue of US$188.2 million, an increase of 22% from 2021, adding that annual net income of US$35.5 million was the second highest on record. CEO and Director John Lewins commented, “In 2022, Kainantu took another major step forward, achieving significant growth financially, operationally, in our resource base and from exploration in general. Financially, the company ended the year stronger than ever, with $110 million of cash and no debt. Operationally, in 2022 we achieved record production, ore tonnes processed, ore tonnes mined and underground development.
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