PrintUpdate: K92 Mining Keeps Outperform Rating at National Bank of Canada after Latest Exploration Results in Papua New Guinea
BY MT Newswires | ECONOMIC | 09/11/25 11:51 AM EDT11:51 AM EDT, 09/11/2025 (MT Newswires) -- K92 Mining
The results include the fifth set of drilling results from the maiden surface diamond drill program at the Arakompa project, which is located about 4.5 kilometers from K92's Kainantu gold mine and processing plant.
Drilling at Arakompa discovered significant porphyry-style mineralization, recording 690.4 meters at 0.30% copper equivalent, including 395.3 meters at 0.38% copper equivalent.
National Bank said K92's continued exploration success supports its expectation for a mine life of 22 years at Kainantu, well in excess of the seven to 13 years defined in the company's most recent studies.
"We are extremely pleased with the progress achieved through our latest regional exploration results, delivering multiple high-grade intersections at Arakompa, significantly expanding the bulk zone, and on the first deep drill hole discovering a potential porphyry within a 600 m x 600 m copper-in-soils anomaly," chief executive officer and director John Lewins said.
K92 also outlined a 3.5-kilometer-by-3.5-kilometer mineralized system at the Wera prospect. Interpreted mineralized structures and high-grade rock chip samples include 26.30 grams per tonne gold, 25.06 g/t gold and 23.97 g/t gold.
"We remain outperform rated on K92 given the scale of production, attractive grade, long mine life, additional expansion potential and low costs that we expect to materialize through scale at the company's flagship Kainantu mine," the bank said.
National Bank derived the price target from a 60% weighted 0.9x P/NAV target multiple and a 40% weighted 7.0x EV/NTM EBITDA multiple.
Price: 16.96, Change: +0.24, Percent Change: +1.44
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