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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Production / Operations

K92 Mining releases guidance for 2026

By The Northwire Desk — AI Analysis Jan 26, 2026 · 11:54 KNT · 27.91 K92 Mining Inc.
KNT · Price

Executive Summary

  • K92 Mining Inc. has issued its 2026 operational guidance, forecasting a significant increase in gold equivalent (AuEq) production to 190,000–225,000 ounces, up from the 2025 record of 174,134 oz AuEq.
  • The company projects lower cost structures for 2026, with net cash costs of $710–$770/oz Au and All-In Sustaining Costs (AISC) of $1,250–$1,350/oz Au.
  • A record exploration budget of $31–$35 million is planned, supported by the arrival of two additional drill rigs in Q1 2026, bringing the total rig count to 14.
  • Growth capital expenditure is forecasted at $100–$108 million, primarily funding Stage 3 and Stage 4 expansion projects, including power upgrades, fleet expansion, and infrastructure improvements.

Key Details

  • Production Guidance:
    • 2026 AuEq Production: 190,000 to 225,000 ounces.
    • 2025 Actual Production: 174,134 oz AuEq (record).
    • Production expected to be strongest in H2 2026 due to ramp-up of two new mining fronts.
  • Cost Guidance (2026):
    • Net of byproduct credit: Cash costs $710–$770/oz Au; AISC $1,250–$1,350/oz Au.
    • Co-product basis: Cash costs $980–$1,040/oz AuEq; AISC $1,480–$1,580/oz AuEq.
  • Exploration Program:
    • Budget: $31–$35 million.
    • Surface Targets: Arakompa, Maniape, Judd North, and Mati-Mesoan-Bona Creek vein systems (proximal to Kora and Judd).
    • Underground Targets: Kora, Kora South, Kora Deeps, Judd, Judd South, and Judd Deeps.
    • Regional Drilling: Wera vein-hosted gold-silver mineralization.
    • Equipment: Two additional surface drill rigs arriving Q1 2026 (Total rigs: 14).
  • Capital Expenditure (Growth CapEx):
    • Total Forecast: $100–$108 million.
    • Stage 3 Expansion Capital: $25–$28 million (95% spent/committed as of Dec 31, 2025; on budget).
    • Stage 4 Expansion & Accelerated Growth Capital: $75–$80 million.
  • Key Expansion Projects & Enablers (Completion/Status):
    • Ventilation: Phase 3 upgrade (Puma Vent Drive breakthrough 10m remaining as of Jan 25, 2026); Stage 4 primary ventilation upgrade (Late Q1 2026).
    • Infrastructure: Decline-Incline Convergence connecting Main mine to Twin Incline (Completed Jan 24, 2026).
    • Fleet: Major load and haul fleet expansion (H1 2026).
    • Logistics: River crossings for 60-tonne truck payloads from Twin Incline to process plant (Scheduled completion Q2 2026).
    • Processing: Paste-fill plant commissioning mid-Q1 2026; practical completion H2 2026.
    • Power: Stage 4 expansion power station upgrade to 15.3 MW (Scheduled completion Q2 2026).
  • Specific Stage 4 & Growth Project Costs:
    • Stage 4 power plant upgrade to 15.3 MW: $6 million.
    • Stage 4 haul road upgrade: $5 million.
    • 132-kV power supply and line upgrade: $9 million (supports 2030 GHG reduction targets).
    • Stage 4 water treatment and management upgrade: $8 million.
    • Stage 4 engineering, project management, and owner's team: $10 million.
    • Camp expansion and facilities upgrade: $5 million.
    • Stage 4 vertical mine development: $11 million.
    • Port upgrade (Port of Lae, PNG): $3 million.
    • Kainantu Community Affairs Office: $3 million.

Notable Quotes

  • John Lewins, CEO: "Building on our record operational performance in 2025... we are pleased to provide our 2026 guidance, forecasting a significant increase in production, with low cash costs and all-in sustaining costs."
  • John Lewins, CEO: "Importantly, we enter 2026 in a strong financial position, with record net cash and the stage 3 expansion 95 per cent spent or committed, and on budget. This strength has enabled us to leverage our proven project owner's team and mobilized on-site contractors to bring forward stage 4 expansion projects in 2026..."
Read the original news release →

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