Red 5 Limited (ASX: RED) is an ASX-listed gold exploration and mining company that is positioned within a unique space on the ASX – a small gold producer with a major new Australian gold mine coming into production in the next 12 months.
The 4.1Moz King of the Hills Gold Project is currently under construction for A$226m, with first gold expected in the June Quarter 2022. The Project has a 16-year LOM plan based on a 2.4Moz Ore Reserve – making it one of the top 10 gold mines in Australia by Ore Reserves. Production in the first six years commencing 2022 will average 176kozpa with an AISC of A$1,339/oz.
The Project is located in the Eastern Goldfields of Western Australia, 120km’s from Red 5’s existing gold mine at Darlot. Darlot’s current production is ~80kozpa. Red 5 also has the Siana Gold Project in the Philippines (mining operations currently suspended).