Red 5 Limited is listed on the Australian Securities Exchange (Ticker: RED).
The Company has a strong institutional shareholder base, with a significant number of international and domestic institutions, together with South African-based international gold producer Gold Fields Limited and West Australian mid-tier gold producer Saracen Mineral Holdings as cornerstone shareholders. Click here to see our current major shareholders.
In October 2017, Red 5 completed the acquisition of two key gold assets in the Eastern Goldfields region of Western Australia, marking the beginning of a significant new growth chapter for Red 5 as an Australian gold producer listed on the ASX.
The cornerstone acquisition was the operating Darlot Gold Mine, which was acquired from Gold Fields Limited (JSE, NYSE: GFI), complemented by the acquisition of an advanced development asset in the King of the Hills (KOTH) Gold Project, which was acquired from Saracen Mineral Holdings.
These projects provide Red 5 with an extensive strategic footprint in the world-class Leonora-Leinster mineral district of WA, with the ability to leverage this position by pursuing a regional consolidation strategy aimed at establishing the Darlot mill as a central processing hub.
The Darlot Gold Mine has been acquired as a going concern, with mining operations transitioning immediately under Red 5’s ownership.
The Red 5 group also holds an interest in the Siana Gold Project, located on the island of Mindanao in the Philippines. The Siana Project is held under a Mineral Production Sharing Agreement (MPSA) by Greenstone Resources Corporation (a Red 5 Philippine affiliate company).
Mining operations at the Siana Project are currently suspended pending an improvement in operating conditions in the Philippines. Until recently, the deposit had been mined by open pit methods, with a plan to transition to underground mining following completion of the open pit.
The Group’s second principal asset in the Philippines is the Mapawa MPSA, located 20km north of Siana, which has the potential to be developed as a satellite source of ore feed for the Siana processing plant. Mapawa hosts a known gold porphyry system with numerous high grade gold occurrences throughout the project area. The area has had little exploration activity and is considered to have significant potential.