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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Kora, Irumafimpa | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 12/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-12-2016: K92 Mining Inc. announces a PEA report for its Kora, Irumafimpa deposit at the Kainantu project. Technical Disclosure Review on previously released PEA. K92 Mining Inc. (“K92” or the “Company”) was selected for a Technical Disclosure Review by | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | K92 Mining Inc. (“K92” or the “Company”) was selected for a Technical Disclosure Review by the British Columbia Securities Commission (“BCSC”). As a result of this review by the BCSC, K92 is issuing the following news release to clarify our Technical Report disclosure for the Kainantu Project. Acting jointly with the author of the Company’s “Independent Technical Report, Preliminary Economic Assessment of Irumafimpa and Kora Gold Deposits, Kainantu Project, Papua New Guinea” by Anthony Woodward, Nolidan Mineral Consultants on November 27, 2016 (the “Report”), the Company has reviewed the deficiencies identified in a Technical Disclosure Review, and will be updating and amending the Report in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). K92 does not expect changes to the resource estimates provided in the prior Report and no changes in the pre-tax NPV. However, a post-tax NPV will be included in the amended report. When K92 acquired the Kainantu Project, it acquired significant tax losses and these losses and other related factors will be considered and utilized in the preparation of the after-tax NPV. K92 intends to amend and file an updated Report in accordance with NI 43-101 as soon as possible, and until the amended Report is filed, the previously filed Report should not be relied upon. | |
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