Red 5 fourth consecutive quarter over 50koz with 50,132 ounces produced & positioned to deliver at the top end of FY24 production guidance of 195,000 – 215,000 ounces. According to the March 2024 Quarterly Report gold sales of 49,726 ounces (Dec Qtr: 53,087 ounces) at an average realised price of A$2,719/oz (Dec Qtr: A$2,619/oz).
Quarterly gold production of 50,132 ounces (Dec Qtr: 53,018 ounces) at an all-in sustaining cost (AISC) of A$1,926/oz (Dec Qtr: A$2,328/oz). Year-to-date production for FY24 is 158,158 ounces at an AISC of A$1,982/oz. Red 5’s fourth consecutive quarter exceeding 50koz positions the Company to deliver at the top end of FY24 production guidance of 195,000 – 215,000 ounces and within its AISC guidance of A$1,850 – A$2,100/oz.
Consistent production and cash generation underpins a decision to increase the growth capital spend to $50-53 million for FY24, primarily on accelerated waste stripping in Stage 2 of the King of the Hills (KOTH) open pit, de-risking future ore supplies.
Commenting on the March 2024 Quarterly performance, Red 5 Managing Director, Mark Williams, said, “The March Quarter marked another solid period of consistent delivery by the Red 5 team and our fourth successive quarter of production above 50,000 ounces.
While we are pleased to see the TRIFR continue to reduce, we did record two lost time injuries during the March Quarter. The lost time injuries serve to remind us that, while our safety performance has improved, we must remain vigilant and continue the front-line leadership safety focus.
Production at the KOTH Hub was impacted during the quarter by a planned SAG mill reline in March and unplanned downtime in February relating to a SAG mill lube system fault, which reduced overall mill utilisation. Mining and processing operations also experienced minor impacts from short outages which reflected some of the extreme heat and rainfall events experienced during the quarter.”
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