Strong June Quarter expected at Red 5
Gold production record 19,039 oz in May!
Red 5 Limited advises that the King of the Hills (KOTH) Gold Mine, has delivered a third consecutive month of record gold production in May 2023, producing 19,039 ounces of gold over 18,633 ounces in April 2023.
As previously foreshadowed, KOTH completed planned mill and crusher maintenance shutdowns in May. These shutdowns were successful and resulted in four days of zero mill production during the month. Work undertaken included replacing the crusher’s mantle and concave liners, replacing the mill’s original discharge grates with 9 x larger grates and replacing and bolstering heavy wear areas.
The open pit and underground mines continued to perform well during the month, with Run-of-Mine (ROM) stockpiles containing an estimated 560kt of ore grading an estimated 1.2 g/t at the end of May 2023. 2H FY2023 production guidance is maintained at 90,000 – 105,000 ounces at A$1,750 – A$1,950 per ounce.
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