Haben AISC von 941 US Dollar. Hammer.
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@SpartanGhost I added today at $8.20 for what it’s worth. The numbers reported this morning were extraordinary. 44,300+ oz produced at a massive grade of 13 g/t! Well, we now know what the “K” stands for in K-92: King Kong, cause their grades are king of the jungle.
annualize their $0.26 quarterly CFPS and the stock trades at 8 times cash flow ahead of massive growth in coming years. How is this cheap valuation even remotely possible?
annualize their eps of $0.20 and KNT trades at just 10 times net profit! Wild.
Of course I am adding at $8 and change. Crazy not to.
Record quarterly production of 44,304 ounces gold equivalent (“AuEq”) or 41,702 oz gold, 1,278,492 lbs copper and 37,613 oz silver (1). With over 80% of AuEq production for the lower end of annual guidance delivered in the first 9 months of the year, the Company is well positioned to meet its 2024 operational production guidance.
Cash costs of $584/oz gold and all-in sustaining costs (“AISC”) of $941/oz gold(3), significantly better than our 2024 operating guidance of $820/oz to $880/oz cash costs and $1,440/oz to $1,540/oz gold all-in sustaining costs.
Record metallurgical recoveries in Q3 of 95.3% for gold and near-record recoveries of 95.1% copper, with September achieving record monthly gold recoveries of 96.5% and copper recoveries of 95.9%, both exceeding the recovery parameters from the Updated Integrated Development Plan, of 93% and 94%, respectively (see October 16, 2024 press release).
Quarterly ore processed of 104,992 tonnes and total ore mined of 112,333 tonnes, with long hole open stoping performing to design, and 2,190 metres of total mine development.
Head grade of 13.8 grams per tonne (“g/t”) AuEq or 13.0 g/t gold, 0.58% copper and 13.0 g/t silver. AuEq head grade in Q3 was the highest since Q4 2020 and above budget, benefiting from higher grade stopes in Q2 reporting to Q3, in addition to a moderate positive gold grade reconciliation versus the latest independent mineral resource estimate (effective date of September 12, 2023 for Kora and Judd) for both gold and copper.
Financials
Strong cash and cash equivalent position of $120.3 million, which excludes restricted cash of $20.3 million(4). Under the terms of the Trafigura loan, the Company has the ability to convert restricted cash to cash and cash equivalents on January 1, 2025. During the quarter, the Company completed a drawdown of $20 million of unrestricted cash and has $60 million of unrestricted cash available to draw anytime. Unrestricted cash and cash equivalents during the quarter increased by $49.5 million.
Subsequent to quarter end, K92 purchased put contracts for $2.2 million covering, 12,500 oz Au per month for 9 months at $2,400/oz, to protect against commodity price risk during the Stage 3 Expansion construction. K92 maintains full exposure to commodity price upside.
Record quarterly revenue of $122.7 million.
Record quarterly net income of $46.5 million or $0.20 per share.
Record operating cash flow (before working capital adjustments) for the three months ended September 30, 2024, of $61.0 million or $0.26 per share, and record earnings before interest, taxes, depreciation and amortization (“EBITDA”) (3) of $78.9 million or $0.33 per share.
Sales of 45,248 oz gold, 1,615,185 lbs copper and 46,062 oz silver. Gold concentrate and doré inventory of 1,887 oz as of September 30, 2024, a decrease of 3,082 oz over the prior quarter.
Growth
Wie Rule immer sagt man muss sich auf die besten Minen und die großen Projekt konzentrieren. Für Ihn da ist Er auch investiert ist Equinox Gold der beste Mittelständler. Starkes Wachstum vorhanden jedoch sind halt noch vor allem deswegen die AISC so hoch.
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