In June 2022, Kingston reported the results of the Misima Gold Project Definitive Feasibility Study (DFS). The DFS confirmed Misima as a large scale, long-life, low-cost operation with compelling project economics. The project is highly leveraged to the upside in the gold price.
The Misima Gold Project is an exploration and development asset with significant scale underpinned by a 3.8Moz gold Resource and a 1.73Moz gold Reserve.
The project also hosts a number of exciting exploration targets. Kingston is the first company to focus on recommencing gold production at Misima since Placer Dome ceased its operation in 2004, having successfully produced 3.7Moz over a 15 year mine-life.
Misima Gold Project Site Layout
Access to existing Misima Island infrastructure including roads, airport and ports
Misima ESIA and Approvals Update
- Misima Gold Project Definitive Feasibility Study (DFS) complete
- Environmental and Social Impact Assessment (ESIA) is nearing completion
- Mining License (ML) and environmental applications will be submitted post ESIA conclusion
Misima Location and Background
Misima Island is located 625km east of Port Moresby in the Solomon Sea. Gold was discovered on the island in 1888 with small scale underground mining continuing until WWII. Placer Dome Inc (Placer) commenced exploration in 1977, with production beginning in 1989. Misima was operated as an open pit gold mine from 1989 to 2004, producing 3.8Moz at an average cost of US$218/oz.
Exceptional Exploration Upside Potential
Kingston’s previous drilling focused on identifying near-surface ounces to deliver ore feed for the early years of operation into the Misima mine plan, while access to the main Umuna orebody was re-established via a pit cut-back.
The current Misima Resource is open at depth and drill constrained. Exploration focus remains on near-surface mineralisation, with key exploration targets including:
The Misima Gold Project consists of two deposits (Umuna and Ewatinona) and several exploration targets. The island is part of the Louisiade Archipelago, which is a continuation of the Papuan Fold Belt. The metamorphic rocks on Misima are Cretaceous to Paleogene, with two associations separated by a thrust fault. The deposit style is low sulphidation carbonate base-metal epithermal, characterised by vein features and dominant silver, zinc, lead, gold, copper, and manganese geochemistry.
Sustainability & Community at Misima
- Zero LTI’s
- COVID-19 Management Plan
- Baseline data for TRIFR performance tracking
- Introduced Take 5 & JSRA
- PNG employees +90%
- Skilled resident workforce
- +100 FIFO Misima residents
- Attract and retain the
- Zero environmental non-compliance
- Aware of our operational footprint
- Eliminate hydrocarbon spillage
- ESIA nearing completion
- Local employment
- Identifying landowner priorities
- Community support projects
- Strong engagement