K92矿业公司(KNTNF)公布了其2024年第一季度的财务业绩，显示收入和成功的黄金产量显着增加，略高于预算预期。该公司公布的季度收入为5,980万美元，较上年同期增长48%，原因是其Kainantu金矿的产量为27,462盎司黄金当量。
K92矿业公司也在其扩张计划上取得了进展，第三阶段的投产计划定于2025年4月下旬，第四阶段的投产计划定于2026年下半年。尽管由于3月份的一次非工业事故，该公司的地下作业暂时暂停，但该公司已恢复运营，并有望实现今年的采矿目标。
财报电话会议还谈到了公司的勘探活动、基础设施升级以及与托克(Trafigura)的贷款协议状况。
K92矿业报告称，2024年第一季度收入同比增长48%，达到5980万美元。
Kainantu金矿生产了27,462盎司黄金当量，略高于预算。
该公司正在推进其扩张计划，第三阶段和第四阶段的扩张正在按计划进行。
安全改进正在进行中，包括接近探测和避碰系统即将完成。
勘探工作正在加强，钻探活动取得了重大成果，并确定了大规模开采的潜力。
该公司的目标是开采150万至160万立方米的天然气2024年占总材料的90%。
与托克签订的贷款和承购协议正处于最后审批阶段。
由于追赶努力，预计未来几个季度的全部维持成本将上升。
第三阶段和第四阶段的扩建正在进行中，前者预计将于2025年4月底开始，后者将于2026年下半年开始。
该公司正致力于实现150万至160万立方米的开采目标今年的第一名。
有限公司工艺装置的建设正在推进，GR工程服务(GRES)在现场积极工作。
由于非工业事故，该公司的地下作业暂时停止。
随着公司从运营中恢复，预计维持成本将会上升Q1的总停机时间。
收入增长和黄金产量数据表明，该公司业务表现强劲最终的性能。
扩张计划正在按计划进行，利用新工厂有可能超过铁矿石生产目标。
勘探活动取得了积极成果，增强了公司的增长前景。
误时受伤的频率在2023年有所增加推动公司实施加法Nal安全措施。
该公司正在解决关键路径问题，以保持co的进度施工调试。
在Arakompa的勘探显示出希望，有可能开发出一两个具有良好连续性的矿脉。
有乐观主义。考虑到高品位的潜力，我们将同时运营Arakompa和现有的工厂。
K92矿业仍然致力于提高安全性，提高生产力，扩大业务，同时应对成本增加和运营中断的挑战。该公司专注于勘探和基础设施升级，以及预期完成的扩建阶段，使其在未来几年保持持续增长。
K92矿业公司(KNTNF)在2024年第一季度表现出卓越的财务和运营业绩，收入和黄金产量数据超出预期。为了进一步了解该公司的财务状况和投资潜力，让我们深入了解InvestingPro的一些关键指标和见解。
InvestingPro Data强调，KNTNF的市值为13.4亿美元，反映了投资者的信心和公司的市场占有率。衡量该公司当前股价相对于每股收益的市盈率，截至2023年第四季度，经调整后的过去12个月的市盈率为39.78，表明投资者愿意为潜在的增长支付溢价。此外，该公司的毛利率高达44.38%，显示出高效的运营和对成本的强有力控制。
就业绩而言，KNTNF的6个月价格总回报率为63.85%，表明市场势头强劲，投资者乐观。股票交易接近52周高点，达到峰值的99.32%，这一事实进一步支持了这一观点。
值得注意的是，KNTNF在其资产负债表上持有的现金多于债务，为持续增长和扩张提供了财务灵活性和坚实的基础。此外，分析师上调了未来一段时间的盈利预期，反映出他们对该公司创造更多利润的能力充满信心。
对于寻求更深入分析和更多InvestingPro提示的投资者，KNTNF的InvestingPro平台上列出了12个额外提示，可以访问http://k1.fpubli.cc/file/upload/202405/14/2tvcxrjdz5c.F。使用优惠券代码PRONEWS24，可获得每年或两年一次的Pro和Pro+订阅额外10%的折扣，解锁可为投资决策提供信息的宝贵见解。
InvestingPro提供的数据和见解为K92矿业公司描绘了一幅充满希望的画面，与该公司在文章中概述的积极前景和战略扩张计划相一致。
接线员:谢谢您的等待。我是会议接线员。欢迎参加K92矿业公司2024年第一季度财务业绩电话会议。提示，所有与会者都处于只听模式，会议正在录制中。演讲结束后会有提问的机会。现在我想把会议交给总裁兼首席执行官David Medilek。请继续。
David Medilek:谢谢你，操作员，感谢大家参加K92矿业公司2024年第一季度业绩电话会议。我们希望你们和你们的家人一切都好。除了我本人，我们还有首席执行官兼董事John Lewins;Justin Blanchet，首席财务官。我还想提醒大家，在管理层发言之后，电话会议将会有一个问答环节。由于我们将在电话会议中作出前瞻性陈述，请参阅我们的管理层和管理层讨论中的警告说明和风险披露以及网络直播演示的幻灯片2。此外，请记住，除非另有说明，电话会议中提到的所有美元金额均为美元。现在，我把话筒交给约翰，让他给大家做个概述。
John Lewins: Well, thank you, Dave, and welcome everyone. As always, we’ll begin with safety, K92's number one priority. K92 has historically operated with one of the best safety records in PNG, as well as the broader Australasian region as shown in this chart. And as we stated in our previous conference call, we take the increased lost time injury frequency rate we achieved in 2023 very seriously. Multiple actions have been taken. Two independent safety audits have completed. The first in the second half of 2023 and the second in April of this year. While overall, our systems were found to be comparable with other operations in Australia and the Asia-Pacific region, opportunities to improve safety were identified and many improvements have already been realized. Additional safety technologies have been progressively introduced such as in-cap monitoring and the implementation of our Proximity Detection and Collision Avoidance System, which is nearly complete. Further enhancements and systems beyond this are also planned. And then culturally, there are multiple positive leading indicators including a significant increase in job safety assessments for several consecutive quarters. As part of our expansion process, management and supervisory capabilities have been enhanced and expanded, including to provide a major focus on safety and training. In Q1, there were no lost time injuries and I'm pleased to highlight that this is now the third consecutive lost time injury-free quarter. I'd like to reiterate that K92 relentlessly pursues our goal of achieving zero harm among our workforce. So now I’d like to provide an update on the non-industrial incident that occurred on the mining lease on March the 10th and which resulted in a deceased employee, as well as the issuance of a Form 29 by the Mineral Resources Authority or MRA. I know that the Form 29 required a temporary suspension of underground activities on March the 13th, and it was initially incorrectly interpreted as a mine accident. On April the 8th, we announced that the MRA had vacated the Form 29 through a letter and the operations were resuming imminently. This letter followed a presentation that was delivered by The Independent Safety Auditor to the MRA, which highlighted that our underground safety management plan was good, conformed to criteria in ISO 45001 and had been implemented. The safety auditor also noted that no substantive document process or systems were found and that the underground safety management plan was comparable to other operations in Australia and Asia. Since restarting operations ramped up in April and have now returned to normal and we're pleased with the focus and motivation of our workforce. In terms of the Proximity Detection and Collision Avoidance System, installation is nearing completion, with as noted in the prior slide. Lastly, in late April, the colonel’s report confirmed that the incident is non-industrial. It is deemed not to be a mine accident and is a jurisdiction of the Royal Papua New Guinea Constabulary or the police. On the ESG highlights, K92 is extremely proud of its positive impacts on women's empowerment. The five female graduates shown in this slide are within a larger group of outstanding female leaders and future leaders in our company. They work in a range of roles within the company, including but not limited to, mining engineering, sustainable agriculture and livelihoods, finance and community affairs. Some of the female graduates are also previous scholarship recipients including the Inaugural Women in Mining Scholarship. Our Women’s Empowerment $programs are wide ranging, focusing on education and healthcare training and awareness, business development, developing our workforce, and partnering with academia and are designed to deliver long-term and diverse positive impacts. K92 is extremely proud of the positive impact that we're having in Papua New Guinea and we look forward to announcing our latest sustainability report in the next couple of months. Now moving on to operational performance. During the quarter, Kainantu Gold Mine slightly exceeded budget with 27,462 ounces gold equivalent produced even with the temporary suspension of underground operation for the final 22 days of the quarter due to that non-industrial incident. During the quarter, a total of 130,632 tonnes were processed at a head grade of 7.2 grams per ton gold equivalent and cash costs $934 an ounce, all-in sustaining costs, 1,366 an ounce. And as annotated on the chart, all-in sustaining costs have been elevated for the past few quarters as the company continues to make considerable investment in that Stage 3 expansion, particularly in 2024 with costs then expected to decline considerably after delivering Stage 3 expansion next year. I think it's important to highlight that the non-industrial incident had a moderate impact on our Q1 production of about 3,000 ounces to 4,000 ounces and we expect a moderate impact in Q2 as previously disclosed. Q1 was on track prior to the incident to be our best first quarter on record and there is certainly a lot of positives to build on going forward. As I outlined in our operational guidance earlier in the year, the second half of the year is expected to be our strongest. So we reiterate our 2024 guidance. In terms of key operational quarterly physicals, K92 has demonstrated the ability to sequentially expand the operation for several years with physicals in Q1 clearly impacted by the temporary suspension of underground operations for the majority of March, as well as the completion of the twin incline. In Q1, a major positive in terms of operational physicals was realized with the process plant delivering multiple records earlier in the quarter. A new monthly throughput record was achieved in January, averaging 1,843 tonnes per day or 35% greater than the Stage 2A design throughput. A new weekly throughput record was achieved in January, averaging 2,149 tonnes per day, which is 50% greater than the Stage 2A design. And finally, a new daily record throughput was achieved on the 21st of January of 2,389 tonnes processed, 74% greater than that Stage 2A design. So the process plant has clearly demonstrated that with the tonnes in front of it from the mine, it is extremely capable and provides significant optionality going forward. I think the records also highlight the potential of the Stage 3 process plant, which has used the same design parameters as the Stage 2A process plant and is therefore potentially capable of significantly greater throughput than the 1.2 million tonne per annum nameplate design. With that, I'll now turn over to our Chief Financial Officer, Justin Blanchet to discuss our financial results for the first quarter.
贾斯汀·布兰切特:谢谢你，约翰。大家好。在2024年第一季度，我们的季度收入为5980万美元，同比增长48%。我们销售了27,996盎司黄金，平均售价为2016美元，而去年为17,602盎司，平均售价为1,807美元。截至2024年3月31日，库存中有1,677盎司黄金，包括精矿和矿石，由于销售时间的原因，与12月31日相比减少了3,608盎司黄金。在2024年第一季度，销售成本为4090万美元，而去年为2370万美元，不包括非现金项目时为3290万美元，而非现金项目为1670万美元。销售成本较高是指在暂停期间发生的支出或直接计入销售成本的费用。此外，还减少了资本化为发展的费用。在2024年第一季度，营运资本变动前的经营活动现金流为2000万美元，而去年为1650万美元。截至2024年3月31日，我们拥有7,340万美元的现金、现金等价物和短期国库券，同时在本季度花费了1,810万美元的扩张资本。我们的营运资金余额为8920万美元，资产负债表上没有债务。正如John提到的，在第一季度，Kainantu金矿生产了24,389盎司黄金，1,443,300磅铜和35,650盎司银或相当于27,462盎司黄金。我们卖出了27,996盎司黄金，1,582,668磅铜和38,812盎司白银。我们产生了934美元的现金成本和每盎司黄金1366美元的全部维持成本，这大大低于我们每盎司2016美元的售价。我们第一季度每盎司黄金的现金成本从2023年的758美元上升至934美元。增加的原因是之前提到的销售成本较高。值得注意的是，随着运营的增加和第三阶段扩张的完成，我们将看到规模经济对成本的下行压力。我现在把电话转回给约翰，让他继续剩下的演讲。
John Lewins: Well, thank you, Justin. For the exploration and growth section, we begin with an update on the Stage 3 and 4 expansion, which are designed to fundamentally transform K92 into a Tier-1 mid-tier producer through sequentially increasing production to 300,000 ounces per annum and then to 470,000 ounces per annum. importantly, this transformation is happening near term with the commissioning of the Stage 3 process plant planned for late April 2025. I know this is a slight extension from our original timing of late March 2025 due to a longer and significantly wetter rainy season and also some impacts from the Form 29 suspension. Now that delayed the completion of the site earthworks and subsequent handover to the contractor. Fortunately, the impact occurred early in the mobilization process resulting in limited variation to costs. The delivery of Stage 4 expansion remains on track targeting second half 2026. As at the end of April, 52% of Stage 3, 4 growth capital has either been spent or committed. And as a reminder, the process plant is the largest growth capital package and that was awarded in July 2023 on a lump sum fixed price basis significantly de-risking the project for K92. We are pleased to report that GR Engineering Services or GRES is now fully mobilized on site. So this video clip begins with a design layout of the process plant, which as outlined in the integrated development plan is a conventional single-stage crush SAG ball mill combination followed by gravity and flotation recovery producing a copper gold concentrate and dory. The recovery method is the same proven method as we used in the Stage 2A expansion with the new plant having a much more optimized design and an enhanced process control, which includes real-time product analysis. We now pivot to show recent drawn footage of the construction site starting with the primary crusher where we installed pilings prior to handing over the site to GRES. Now moving towards the surge pain and reclaims plus stockpile area, which is not on the critical path, so we're seeing limited work today as followed by the SAG and ball mill area, which as you can see GRES is already well underway with work on the mill footings and foundation. And then towards the wet end of the process plan where you can see GRES is already underway completed work on the concentrate and tailing thickness footings and foundations. Over to the right, is the long lead and material lay down area. I think it's important to highlight there's been a surplus area for the construction materials and long lead items which de-risks the project in terms of inventory management. Then in the far right are the offices for GRES and the various subcontractors, which are now operational. And then lastly, as we continue along, these are the designated areas for the reagents water services and concentrate filtration and storage head. Again, this is not on the critical path. So limited work has been completed in this area to-date. I think it's fair to say we're excited with the increased construction activity, which is gaining significant momentum and we're looking forward to providing further updates on the process plant construction in due course. On the paste fill plant, front-end engineering and design is almost complete and as shown on this slide, we've got the latest designs. The image on the left is our tailings, filtration plant design, utilizing plates and frame pressure filters. The image on the top right is our surface storage system near the portal area for the filter cake and binder before it's transported underground to the paste plant itself was the design shown in the bottom right image here. Long lead item ordering is progressing the pumps, which are the longest lead items were ordered in Q1 and the remaining long lead items are to be ordered shortly. Work towards award of the construction contract is well advanced. Beyond the Stage 3 and 4 expansion surface works, multiple near term major infrastructure upgrades that are fundamentally transforming the mine productivity are being put in place with the twin incline already effectively completed. As part of the expansion, we're also putting in place a series of ore and waste passes to efficiently leverage gravity to connect the main mine to the highly productive twin incline infrastructure. As shown in the images, the raised ball rig and associated power pack is underground with electrical commissioning to begin imminently followed by the commencement of boring operations. The first race will be to upgrade our ventilation to the main mine and that will be followed by waste and ore passes. These various infrastructure upgrades, combined with a triplet of the mining fronts in 2024 as shown in this slide are set to fundamentally transform the mine and business into a Tier 1 mid-tier producer near term. Now in terms of exploration, we are drilling Kora, Kora South, Judd, Judd South vein systems, Arakompa vein system and of course A1 porphyry. On May the 6th, K92 reported a total of 140 holes at Kora, Kora South, and Judd, Judd South, which we believe continue to demonstrate that this is a world-class deposit with significant upside potential. I think for the results at Kora, there are three key takeaways. Firstly, it’s a discovery of a new potential dilatant zone to the south beyond the existing resource envelope, highlighted by whole KUDD0053 intersecting 78.5 meters at 27.3 gram per tonne gold. Second is the expansion and upgrade of a large zone of high-grade within the resource as demarcated by the larger lips with the dashed black line in multiple areas drilling results where higher grade than the resource with highlights including KMDD0657 recording 6 meters at 47.27 gram per tonne gold equivalent in K2, KMDD0662, 9 meters at 40.35 grams per tonne gold equivalent also in K2 and then KMDD0634 recording 12.1 meters at 18.9 grams per tonne gold equivalent in K1. These results, I think are particularly important as you're immediately above the main workings setting ourselves up well for the Stage 3 expansion over the near-to-medium term in that area. And then thirdly, is a significant high-grade mineralization intersected from step out drilling to the south from the underground drill drives shown by the smaller lips located on the left including KMDD0652 with 9.3 meters at 15.3 gram per tonne gold equivalent and KMDD0654A recording 17.5 meters at 23.79 gram per tonne gold equivalent in the K2 vein. These holes continue to support our view that Kora, Kora South’s best grade is at depth. I think it's important to highlight that exploration to the south continues to intersect high-grade copper as annotated in the K2 long section with multiple significant stepper intersections approaching 4% copper, in addition to recording high gold. These intersections have extended the high-grade copper zone further to the south and continued to confirm our thesis for high and potentially increasing copper grades as we draw further to the south towards the A1 porphyry. Now Judd also delivered some impressive drilling results with two key takeaways. Firstly, is the expansion vertically of a high-grade zone, the J1 vein as shown by the large dashed black line ellipse and very importantly, at significantly higher grades in the resource with multiple plus one ounce per tonne intersections including JDD0025 with 4.1 meters at 69 grams per tonne gold equivalent, JDD0231 with 3.67 meters at 41.05 gram per tonne gold equivalent, and JDD0239 with 2.7 meters at 44.48 gram per tonne gold equivalent. By Kora, this is particularly important as it's immediately above the main mine workings. And so again it's setting ourselves up well for that Stage 3 expansion into that area. Second is the intersection of significant mineralization to the north from a 300 meter stepper in an area which effectively has no drilling, highlighted by KODD0055 recording 9.85 meters at 7.58 gram per tonne gold equivalent. In late February, K92 announced the first drilling results at Arakompa for 32 years. Arakompa as shown on the map to the right is located approximately four and a half kilometers from the process plant, so that makes it closer than Kora and Judd. Historically, Arakompa has recorded limited drilling with a total of only 18 largely shallow holes for a total of 1.8 kilometers drilled, so, averaging just 100 meters depth. Our initial drilling results reporting two holes were exceptional. The second hole recorded four high-grade loads including 7.2 meters at 24.8 gram per tonne gold equivalent, 5.7 meters at 9.9 grams per tonne gold equivalent, 5.3 meters at 6.1 grams per tonne gold equivalent, and 3.6 meters at 3.4 gram per tonne gold equivalent. These intersections are within a bulk intersection of 219.8 meters at 1.59 grams per tonne gold equivalent and within that, the higher-grade core of 149.4 meters at 2.12 gram per tonne gold equivalent. And as shown in the cross-section, mineralization started near surface and the entire width of that corridor is still to be drilled. importantly, the target size is also very large, comprising a 150 meter to 225 meter wide corridor of mineralization containing these high-grade veins with a non-mineralization strike at 1.7 kilometers and a non-vertical depth of 500 meters as shown in the plan view in long section here. And as you can see this system is opening multiple directions. We're pleased to report that exploration at Arakompa is accelerating. From the recent drone footage, we began at the Arakompa exploration camp looking towards the Markham Valley in the distance. The exploration camp, as you can see, is a significant facility since we believe that we'll be drilling here for an extended period. As the drawn footage rotates, the Kainantu Gold Mine Accommodation Facility or Kumian Camp, which I think some analysts on the call will be familiar with, can be seen in the distance with the process plant just hidden from view. And that's located as I mentioned 4.5 kilometers from Arakompa. We now pivot to footage of the exploration drill is operating. Drilling at Arakompa commenced with a single rig and after the exceptional initial drilling results, we've increased the number of rigs to two. We are shortly adding a third rig with its drill pad construction almost complete. Conditions for drilling are good. The rock is competent and penetration rates and productivity are better than Kora and Judd. From the footage, you will also notice that topography towards the Markham Valley is relatively gentle with a positive attribute for constructing road access and hopefully the eventual transportation of mine material downhill to process plant. Now here's some of the fresh drill core that our drone crew filmed as it was coming out. While the core footage is not from one of the high-grade loads, you'll notice that the rock is still well mineralized. An important feature of Arakompa is the presence of significant background gold copper mineralization between the high-grade loads. This indicates as we mentioned the potential for bulk mining from those initial results that intersection of almost 220 meters at 1.59 gram per tonne gold equivalent within that that higher grade 149 meters at 2.12 grams gold equivalent. The rock, as demonstrated here is competent and the mineralization is certainly easy to visually distinguish. For the high-grade loads the mineralization has similarities to Kora and Judd. We look forward to providing an update on our exploration at Arakompa in the near term. And with that, operator, we'd like to commence the Q&A session.
接线员:[接线员说明]我们的第一个问题来自Eight Capital的Ralph Profiti。请继续。
拉尔夫·普罗菲蒂:谢谢接线员。约翰，谢谢你的演讲和视频。首先，关于发展和开采总量，我想知道你们最初的目标是24年开采总量为160万吨，我想知道你们是否至少回到了那个运行速度?这个目标到2024年还能不能实现?
John Lewins:好的。谢谢你，拉尔夫。直到4月底，我们才恢复到预算运行速度。在暂停运营期间，我们显然降低了一些发展水平。就今年的总开采量而言，我们仍预计今年的开采量为150万至160万吨。
拉尔夫·普罗菲蒂:很好。太好了。是的,谢谢。一个关于膨胀区的问题，现在还处于早期阶段，我们在5月6日的新闻发布会上得到了一些关于你要去哪里的暗示。我只是想知道，尽管现在还处于早期阶段，从这些区域的角度来看，垂直和长走向，与静脉本身相同的维度，还是说我们是在进行长走向，或者更深入的扩张，而不是静脉?
John Lewins:我想，我知道你在问什么。但是让我来回答，如果我没有回答，那就加上它。在这一点上，正如你所说的，我们目前得到的信息有限。它们的垂直范围似乎大于水平范围。所以少长击多下潜。现在还为时尚早。但看起来你有多个扩张区。确实如此，我们至少看到过一个例子，贾德的扩张区也在同一个北部。我们在科拉也看到了一个扩张区，这显然表明存在某种交叉结构，导致了这种延迟。但是，现在仍然处于早期阶段，我们显然是针对这些地区进行额外的钻探，这样我们就可以真正填满并了解我们所拥有的，因为很明显，从盎司的资源和地区来看，他们有非常大的潜力，可以提供大量的吨，非常好的等级用于采矿，这将需要一些-可能需要一些不同的设计，我们如何开采它们。
Ralph Profiti:是的。好吧。是的，这就是我想要的。谢谢你，约翰。
接线员:下一个问题来自Renton Financial的Alex Terentiew。请继续。
Alex Terentiew:大家好。早上好。几个问题。第一个关于托克贷款的问题，我知道这个问题已经存在一段时间了。你能告诉我们的最新情况我的意思是，很明显，现在资产负债表上有7300万美元的现金。所以没有必要使用SIM卡，但我只是想知道有关进展的任何见解，我将不胜感激。
John Lewins:谢谢Alex。好的，我想你们应该知道，Trafi贷款有两个要素一是贷款本身，二是新的承购。新的承购提供了大约额外的三个百分点的应付账款。巴布亚新几内亚的制度是，矿山有黄金出口许可证，它在矿山的整个生命周期内都是由中央银行颁发的。随后，央行批准任何减持。我们已经批准了托克的贷款和美国银行的贷款。任何变化都需要再次获得央行的批准。很明显，我们要做的就是停止转让定价。所以他们会审查合同。我们已经收到了征求意见的批准书草稿，我们已经给了。所以现在我们在等待最后的批准信，然后很明显，这就允许贷款了。所以，这只是中央银行的一个过程，就像储备银行一样，他们是一个准独立的政府实体，就像你在澳大利亚和加拿大看到的那样。
Alex Terentiew:好的。好。听起来有进展了。好的，我的第二个问题是，Q1很明显，你们在那里有一些停机时间，但是尽管处理了一堆库存，等级仍然很稳定。我比想象中看得更清楚。你能给今年剩下的时间的成绩打上什么颜色吗?或者你现在看到的是什么?它们符合计划还是稍好一点?
约翰·莱文斯:听着，我认为公平地说，一年级的成绩比预算要好。我们并不是说这种情况会持续到今年的剩余时间。所以，我们-我们显然会坚持我们的预算，根据我们将要做的事情-做等等，等等，为了今年的平衡。我认为你现在得到的肯定是我们确实有一些库存。我想我们已经开发了大约5000吨的储备。所以我们确实有一些库存。我们可能要到第四季度才会有大量的库存，那时我们的采矿竞赛开始加速，我们开始为第三阶段工厂的投产开发库存。当然，我们开始从其他工作中看到更多的好处，我们把矿打开。与12个月前相比，我们确实有了更多的灵活性。所以这让你有能力保持你的等级抵消任何低等级的肥皂，这是计划的一部分，将它们与更高的等级结合起来，保持一个更稳定的等级，这显然也有助于工厂在操作中恢复。我们已经，我认为我们在这个季度已经看到了，例如，我们现在的成绩在预算范围内运行，我们现在的复苏也略高于预算。
Alex Terentiew:好的。太好了。我可以再问一个吗?我很好奇你的评论会引出这个问题，也许你可以考虑一下。在第三、四阶段的加速计划中，你们的目标是在四月底进行熔体调试，但什么是地下开采，我的意思是，你们的目标是什么才能达到每年120万吨的速度?我知道，很明显，这通常需要一些时间，但我也很好奇鉴于你们已经取得的成功，你们已经有了50万或大约60万吨的年产量，你们是否在寻找机会让它继续下去?或者只是在另一个启动后关闭它然后在你有容量时重新启动它?只是想了解最新的上升计划和保持更高吨的潜力吗?
约翰·莱文斯:所以，我认为从采矿的角度来看，你预计明年第三季度末将达到每年120万吨矿石。所以，你的想法是，你建立了一个储备，你在第二季度开始调试，你继续到第三季度，当你的采矿仍在增加时，你已经建立了储备，以帮助调试。我认为在这一点上，我们很有可能关闭现有的工厂，正如你所说的，它的年产能是60万吨。事实上，如果你看一下最高吞吐量，我们每天的吞吐量超过80万吨，每周的吞吐量大约是75万吨。所以，工厂的产量并不是一个有趣的机会，如果你喜欢，就像我们在新工厂使用的设计参数一样，旧工厂也是如此。所以那些设计参数说旧工厂每年可以生产50万吨现在是每年60万吨，它可以做更多。根据设计参数，新厂的年产能为120万吨。现在，正如你所知道的，对于一个工厂来说，你的碾磨能力的主要限制是你的组合能力。现有的工厂有一个875千瓦的磨机它有超过300千瓦的破碎能力，40千瓦的破碎能力。所以你有大约。1.3兆瓦的碾磨能力让我们保守地说，假设你每年做60万吨。新工厂有两个1.85兆瓦的磨机，一个3.7兆瓦的磨机，另外还有大约400个破碎机。所以你有4兆瓦多一点，三倍的能量。现在，我们说它的吨位是原来的两倍。因此，我们对GRES所做的一件事是，我们重新设计了后端，这样我们就可以很容易地增加额外的浮选能力，我们的想法是，随着瓶颈的消除和我们拥有的综合能力，我们相信将比1.2好得多，这当然也是GRES最初的观点。所以，现在，我们有一个综合发展计划，说，达到120吨，就像我说的，在第三季度左右到明年第三季度末，然后继续扩大地下规模，这样你就可以回来，到26年底，你可以达到每年170万吨。但是——然后重新启动现有的流程计划。如果你想从1.2上升到1.7或者1.8，我们认为更有可能的是，你将打破现有电厂的瓶颈，扩大你能通过的。这并不意味着你会达到1.8，然后在现有的核电站。所以在某个时候可能会有一个步骤，但你可以看到我们开始研究这个新工厂的潜力，当然，我们已经我们有一个观点，基于我们在现有工厂所看到的，你将获得大大超过120万吨每年通过它。所以，你会回到如何增加你的地下空间?再一次，像这些膨胀区这样的东西成为其中的重要组成部分像Arakompa这样的东西也可能成为其中的重要组成部分。
Alex Terentiew:听起来前面还有很多工作要做。谢谢你！
John Lewins:谢谢Alex。
接线员:下一个问题来自Stifel公司的Stephen Soock。请继续。
Stephen Soock:大家好。祝贺这个季度。我就简单问两个问题。我猜，只是在关键的道路上，工厂滑了一点，地下显然关闭了几个星期。只是想知道这里的关键路径项是什么样的。然后，对我来说第二个问题是，你是否期望在未来三个季度看到ASIC的上升，以试图弥补第一季度失去的一些基础?谢谢。
约翰·莱文斯:谢谢你，史蒂夫。就关键路径而言，关键路径仍然是工厂。很明显，我们有所有的主要项目，你有什么?很明显，我们会考虑是否有可能在建设中带来一些关键的路径问题，你有什么?这将改善我们现在所提供的内容，我们正在与GRES合作。正如你所期望的那样，在他们的合同中，提前完成会获得奖金，而延迟完成会受到惩罚，这取决于通常情况下的延长时间，在这种情况下，他们显然已经这样做了。另一个关键的路径是，在你的膏体填充中膏体填充在第三季度进行调试，你绝对想要在你开始调试膏体填充工厂之前让你的工艺工厂进行调试和稳定。虽然不像很多膏体填埋厂因为我们是通过过滤来生产蛋糕然后用卡车把蛋糕运到矿区然后把蛋糕送到地下，从工厂到膏体填埋厂之间有更多的分离这是它的优点之一。粘贴填充,第三季度粘贴填充显然是重要的,提高地下。所以，这是增加和维持每年120万吨的关键区域，然后在地下进行建设。在成本方面，是的，我当然希望我们最终会看到，与我们第一季度所做的相比，所有的维持成本都会上升，因为我们做了一些追赶，正如你提到的。
史蒂芬·苏克:太好了。太好了。非常感谢。对我来说就是这样。我给其他人开通电话。
史蒂芬·苏克:谢谢你，史蒂夫。
接线员:下一个问题来自蒙特利尔银行资本市场的安德鲁·米奇库克。请继续。
安德鲁:嘿，约翰。祝贺你度过了一个充满挑战的季度，我认为你做得非常好。大家问了很多很好的问题，只有两个简短的问题。我只是想回到这个膨胀区，也许你可以提供一些背景资料，关于这些膨胀结构被拦截的区域，与现有的矿山计划相比?这已经在采矿计划中了吗?矿井平面图需要根据这些不同的厚度进行调整吗?或者它实际上就在它旁边?比如实际的物流、时间和影响是什么?
约翰·列文斯:好的，当然，例如，我们指出的最近的膨胀区不在资源区。所以很明显它不会出现在采矿计划中。目前的采矿计划是基于现有的综合开发计划，它构成了第三和第四阶段开发的基础，没有膨胀区，因为我们没有在那个时间点确定。它们已被确定为去年年底发布的更新资源的一部分。因此，当我们从409万盎司矿石资源转移到710万盎司矿石资源时，我认为有230万盎司是在一台专门的机器上研磨的，平衡是推断出来的。我们正在更新43101的综合开发计划，它将与我们过去的计划相同。因此，它将有阶段3 DFS，阶段4 PA来考虑扩展的资源。因此，那里的采矿计划肯定会有我们已经确定的膨胀区，作为采矿计划中资源更新的一部分。但它不会有最新的，因为它不在当前资源中。
Andrew mikitook:好的。只是一个简单的财务问题。财务报表中有一项说明披露了金额。你们有多大的灵活性来重新安排延迟，调整交付时间?
John Lewins:好的。贾斯汀，你想回答这个问题吗?
贾斯汀·布兰切特:当然。谢谢你,约翰。原谅我。金融套期保值只是基于QP套期保值，三个月的套期保值。而且是固定的——他们必须在结算后两个月付款。
Andrew mikitook:好的，我想这很清楚。我就知道这么多。我将把麦克风递给下一位发言者。
John Lewins:谢谢Andrew。
接线员:[接线员说明]下一个问题来自代理资本公司的迈克尔·格雷。请继续。
迈克尔·格雷:早上好，约翰，戴夫，贾斯汀。很高兴看到过去三个季度没有lti。安全性能很好。感谢你的回答、细节和答案，特别是关于加工厂的设计和未来扩大产能的潜力。我的问题，只有一个关于Arakompa的问题，这个项目的范围。你能不能谈谈你是否真的要用三个Jewel的草图来确定系统的大小包括高级和大型可开采潜力还是你要系统地离开并建立资源?
John Lewins:是的，Arakompa是一个有点移动的作品。我们从一个钻机开始。我们目前有两个钻机。我们正在准备平台，这样我们就可以在2024年的剩余时间里运行三个钻井平台。我记得之前在那里钻了18个洞，长度约为6,700米。18个洞，1.8公里的钻孔。所以平均洞只有100米深。正如你从我们所说的可以看到的，我们看到的是一个走廊，大约150米到225米宽，我们看到的是一个长达1.7公里的表面。所以，很明显，过去所做的工作甚至没有覆盖整个走廊，事实上我认为，今天我们还没有钻过整个走廊的任何东西。所以，就理解Arakompa的潜力而言，现在还处于早期阶段。显然，这和科拉有相似之处，贾德。如果你看一下这里的整体宽度，事实是，虽然我们有一个J1，我们也有一个J2, J3, J4, J5，它们与J1没有相同的连续性。但是我们在这里看到的可能是J2进入的地方它有很好的连续性或者更好的连续性我们当然认为在Arakompa可能有一两个矿脉具有连续性这就是过去所显示的，也许其他的矿脉也在进入和离开。但现在还为时尚早。当然，我们最初的设想是，这是一个科拉式的矿化，我们的目标是一个高品位的矿脉，因为之前的工作已经表明了这一点。我们认为，以前的工作可能是，虽然有连续性，并显示出一条静脉，但他们可能不一定每次都钻同一条静脉。我认为他们没有，我们仍然不知道。所以，在我们自己的矿山中，它仍在发展中。我们正在寻找一个初始资源。我们最初的想法是在年底。我们可能会在新年的时候得到一个初步的资源，这将帮助我们确定我们想要如何向前发展，因为当然最初的想法是非常Kora风格的发展。而且它在山顶上。垂直深度超过500米，甚至更多。山脚下大约是80,700 RL，和我们在科拉看到的差不多。所以，复制进入山的一侧然后在一个高级系统上爬上去的想法显然是一个很有吸引力的模型考虑到离工厂很近，实际上比贾德和科拉离工厂更近，实际上这是一个更容易运行的模式。这是非常温和的运行。没有大河要过，等等，等等。当然，大规模采矿可能会极大地改变这一点，因为你将拥有的数量，以及你必须建立一个全新的工厂，而且是一个大工厂。就像我说的，高等级的，我们已经有了这个东西，新工厂当然我们相信它会远远超过1.2。这是否会让你有可能让现有的电站坐在那里等待像Arakompa这样的东西来运行它，并且能够同时运行这两件事。早期，我们现在还在画画。
迈克尔·格雷:是的。
约翰·莱文斯:也许有时候我们有点超前了，因为整个地区似乎都在不断地给予。
迈克尔·格雷:听起来会很有活力。我欣赏这个背景，非常激动人心。谢谢你！
约翰·莱文斯:谢谢你，迈克。
接线员:问答环节和今天的电话会议到此结束。你可以断开线路。谢谢你的参与，祝你有一个愉快的一天。
本文是在人工智能的支持下生成的，并由编辑审阅。欲了解更多信息，请参阅我们的T&C。
