The company expects first drawdown to occur in early to mid-Q4 2023.
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“We are extremely pleased to be expanding our partnership with Trafigura, with a US$100 million Loan and amended offtake agreement. Trafigura has been our offtake partner since the start of operations at the Kainantu gold mine, and these agreements reinforce our strong relationship with Trafigura,” John Lewins, K92 CEO, stated in a news release.
These staged expansions, according to Lewins, would transform Kainantu into a Tier 1 producer with run-rate production of 300,000 oz. and 470,000 oz. gold-equivalent per annum, respectively. The company previously noted that the processing capacity would increase by 140% and 240% respectively under the two cases.
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