Mining Intelligence and News
Papua New Guinea

Misima Project

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Categories

Summary

Mine TypeOpen Pit
Study CompletedFeasibility
StagePermitting
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotMisima Gold Project is a standalone, long-life gold mining and processing operation, leveraging the strong production history of the historical Misima mine. The Project includes the construction of a new CIL treatment facility and modern infrastructure on the footprint of the former mine. It is underpinned by two primary ore sources – a cutback of the existing Umuna open pit and the expansion of the small Ewatinona pit, located in the Quartz Mountain area.

The Misima Project offers great potential for additional resource growth through exploration success targeting extensions and additions to the current Resource base.

On 11 July 2025, Kingston Resources Limited completed the sale of its Misima Gold Project to Ok Tedi Mining Limited.

Owners

SourceSource
CompanyInterestOwnership
Ok Tedi Mining Ltd. 100 % Indirect
On 20 November 2025, Kingston appointed Argonaut PCF Limited as financial adviser to run a formal sale process for the Misima Gold Project. Invitations were given to numerous global companies to participate in the process, which culminated in a binding agreement to sell the Project to Ok Tedi Mining Limited on 20 May 2025 for a total consideration of $95 million.

Deposit type

  • Epithermal
  • Breccia pipe / Stockwork

Summary:

Misima Island forms part of the Louisiade Archipelago which is a continuation of the Papuan Fold Belt of the Papuan Peninsula offshore eastwards through the Papuan Plateau. The Misima Gold Project comprises two main deposits, Umuna and Ewatinona, and multiple reconnaissance exploration targets along and adjacent to the 10km strike length of the Umuna Fault Corridor that hosts the historical Umuna deposit, and Quartz Mountain area that hosts the Ewatinona deposit.

Mineralisation deposit style on Misima Island is best described as low sulphidation carbonate base-metal epithermal. Mineralisation is strongly controlled by pre-existing structures that have been reactivated and mineralised over time.

The Umuna deposit is a complex fault array with a large SE-NW striking fault zone hosting the majority of the precious metal mineralisation, with numerous ancillary splays developed in the footwall east of the main structure. Internal structures within the fault complex and the intersection of structures and splays with the dominant Umuna Fault, are loci for zones of welldeveloped mineralisation.

The Ewatinona deposit is dominated by brecciated porphyry units which are cut by steeply dipping faults trending northwest, west northwest and southwest. Mineralised structures can range from crackle brecciated porphyry with base metal sulphide and quartz-carbonate-base metal sulphide infill, to more well-defined fault breccia with stockwork veining and crackle brecciation haloes.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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EV - Electric

Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnitsAvg. AnnualLOM
Gold koz 1282,379
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2022 study.

Production Costs

CommodityUnitsAverage
Credits (by-product) Gold AUD  ....  Subscribe
All-in sustaining costs (AISC) Gold AUD  ....  Subscribe
Assumed price Silver AUD  ....  Subscribe
Assumed price Gold AUD  ....  Subscribe
* According to 2022 study / presentation.
** Net of By-Product.

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) AUD  ....  Subscribe
Processing costs ($/t milled) AUD  ....  Subscribe
G&A ($/t milled) AUD  ....  Subscribe
* According to 2022 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M AUD  ......  Subscribe
Sustaining CapEx $M AUD  ......  Subscribe
Gross revenue (LOM) $M AUD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscribe
Pre-tax NPV @ 7% $M AUD  ......  Subscribe
After-tax NPV @ 7% $M AUD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 16, 2025
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Workforce

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Aerial view:

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