Topic: How To Invest

Good evening, Pat. After several years I still enjoy your newsletter. Can I please get your advice on K92 Mining? Thanks.

Article Excerpt

A: K92 Mining, $0.72, symbol KNT on the TSX Venture Exchange (Shares outstanding: 89.7 million; Market cap: $64.6 million; www.k92mining.com), has as its principal project the Kainantu gold mine located in the Eastern Highlands province of Papua New Guinea. It’s located two hours on a paved road, north of Port of Lae, the second-largest city in Papua New Guinea. Kainantu was previously mined by Highlands Pacific Limited and Barrick Gold Corporation from 2006 to 2009. K92 bought the mine from Barrick in early 2015 for $62 million U.S. Over the last couple of years, majors like Barrick have sold off smaller assets to pay down debt and focus on big mines. The site could hold as much as 2.0 million ounces of gold. K92 aims to begin mining at the Kora/Irumafimpa deposit at Kainantu in the first half of 2018. It hopes to produce 108,000 ounces per year for nine years. The company recently raised $10 million in a unit issue at $0.75….