K92 Mining Inc Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ovais Habib - Scotia Capital Inc. - Analyst : Hi, John and K92 team. Congrats on a good quarter and really good to see things are progressing well on the expansion as well. Couple of questions from me, John. Number one, second half is expected to be significantly better than the first half. What is going to be driving that? Is that basically grade or throughput or both? Any color you can provide on that, that'd be great. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 13, 2024 / 9:30PM, KNT.TO - Q2 2024 K92 Mining Inc Earnings Call

Question: Ovais Habib - Scotia Capital Inc. - Analyst : Okay. Got it. And then Justin, on that front, in terms of increasing the mining rates, obviously, your ventilation raise has started to progress. Where does that stand in terms of completion? And I'm assuming that's what's going to generate your accelerated development and mining rates.

Question: Ovais Habib - Scotia Capital Inc. - Analyst : That's great. That's great. And so John, I mean, in terms of the ventilation, I mean, this essentially was expected to be completed by the end of Q4. So things are progressing extremely well on the start, as well as how fast you're expecting it to be completed then?

Question: Stephen Soock - Stifel, Nicolaus & Company, Inc. - Analyst : Hey, John and team. I echo Ovais. Congrats on a strong quarter despite a rocky start, but great results. My question is more on the plant construction side. If you could just maybe shed a little more light on what's critical path on the plant construction. I know it's a fixed package but obviously timelines are important there. So what needs to be done to make sure that's online for the end of Q2 for it to be fully operational through Q3 next year? Thanks.

Question: Stephen Soock - Stifel, Nicolaus & Company, Inc. - Analyst : (multiple speakers) I appreciate that.

Question: Stephen Soock - Stifel, Nicolaus & Company, Inc. - Analyst : Got it. Great to see everything on track there and arriving a piece on everything that is critical path.

Question: Andrew Mikitchook - BMO Capital Markets - Analyst : Just a couple of quick questions. That video I think was quite instructive to show the progress at the plant site. Is it fair to say that the excavations are all done, more or less, the majority of them? So the kind of civil excavations are that that timeline risk and surprises are behind you?

Question: Andrew Mikitchook - BMO Capital Markets - Analyst : And then I think the wording in the press release was to the effect that the contractor has completed mobilization. And I think the actual wording that you handed over the site to them. So that also is an important timeline that they're there and they have their people and they're committed to do all this, right? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 13, 2024 / 9:30PM, KNT.TO - Q2 2024 K92 Mining Inc Earnings Call

Question: Andrew Mikitchook - BMO Capital Markets - Analyst : And then just last question. I didn't write fast enough, John, when you were talking, responding to an earlier question about the paste backfill plant. Can you just go over the timeline there? And I think that would be one of the big components in going from 57% completed and committed to a much larger number once that's locked in. So can you just walk us through that one more time, please?

Question: Andrew Mikitchook - BMO Capital Markets - Analyst : And then just in terms of timeline, like should we expect before year end to see this move from tendering to locked in, is that a reasonable expectation?

Question: Andrew Mikitchook - BMO Capital Markets - Analyst : In Q4?

Question: Alex Terentiew - Ventum Financial Corp. - Analyst : Hi, everybody. It's great to see some good progress being made at Arakompa. Obviously, you guys have four -- as you said, there are four drills now running, so you're quite excited about that and you've got a maiden resource coming out. But I guess, my question is, can you give me a bit of color on the steps then with regards to permitting and mining or license to put one in place to get ore from Arakompa into the mill? I mean, obviously, you're highly as a very prospective target, so the sooner you can get that into potential mine plan, I would imagine the better. So can you just kind of walk me through what that process would be like?

Question: Alex Terentiew - Ventum Financial Corp. - Analyst : Well, that's great. It's an important part of the next leg, so that I appreciate the clarity.