ASX-listed gold producer with a growth outlook in Western Australia’s Eastern Goldfields
Red 5 Limited recently joined the ranks of Australian gold producers, after completing the dual acquisitions of the Darlot Gold Mine and King of the Hills (KOTH) Gold Project, located in the Eastern Goldfields region of Western Australia, in October 2017.
As a result of these acquisitions, Red 5 has an immediate production and cash-flow base at Darlot, which forms the cornerstone of its Eastern Goldfields consolidation strategy, and a growth pipeline in the region commencing with the KOTH Gold Project.
Red 5 is listed on the Australian Securities Exchange (ticker: RED).
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Red 5 is progressing a growth strategy in the Australian gold sector following the successful acquisition of a high-quality asset portfolio in the Eastern Goldfields region of Western Australia comprising the operating Darlot Gold Mine and the King of the Hills (KOTH) Gold Project.
Red 5 has a commanding 25,700ha footprint in the highly-endowed Leonora-Leinster gold district, one of Australia’s most active gold provinces, a Mineral Resource inventory totalling 626,000oz, gold production and cash-flow, and outstanding exploration and growth potential.
The Darlot Gold Mine was acquired by Red 5 as a going concern, with the transition of mining operations under Red 5’s ownership now completed and all existing staff and contractors retained.
The vendors of Darlot and KOTH, international gold producer Gold Fields and Saracen Mineral Holdings have become cornerstone shareholders in Red 5.
Mining operations at the the Siana Gold Project in the Philippines are currently suspended pending an improvement in operating conditions in the Philippines. Siana retains significant inherent value, including a substantial gold inventory, a modern 1.1Mtpa treatment facility, an open pit mine and a part-developed underground mine.
Red 5 has an experienced management team with extensive hands-on experience in the exploration, development and operation of gold mines globally.