Open pit mining commences at King of the Hills. Source: Red 5
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Red 5 (RED) commences ore processing at its King of the Hills gold project located in the Eastern Goldfields region of Western Australia
  • Processing operations at the plant will initially focus on low-grade development ore while final commissioning of the processing circuit is completed
  • Red 5 expects the first gold from the processing plant to be poured in the near future
  • Managing Director Mark Williams says beginning this work on time and budget is a key milestone for the project
  • On the market, Red 5 last traded at 34.5 cents per share on May 11

Red 5 (RED) has commenced ore processing at its King of the Hills (KOTH) gold project located in the Eastern Goldfields region of Western Australia.

Processing will initially focus on low-grade development ore, sourced primarily from stage one of the KOTH open pit and exisiting stockpiles, while final commissioning of the processing circuit is completed.

Red 5 is expecting the first gold from the processing plant to be poured in the near future.

Mining is ongoing in both the KOTH open pit and underground mines, with the third open pit fleet now ramping up.

Managing Director Mark Williams said beginning the processing work on time and budget is a “key milestone” for King of Hills.

“I am very proud of the achievements to date of our construction and operations teams during these unprecedented market conditions,” he said.

“The King of the Hills processing plant will become a highly efficient processing hub for our operations in the Leonora district, enabling Red 5 to deliver a significant step-change in our business.”

“We are delighted to have commenced processing operations, and we look forward to delivering our next key milestone of first gold.”

On the market, Red 5 last traded at 34.5 cents per share on May 11.

RED by the numbers
More From The Market Herald

" Wiseway Group (ASX:WWG) launches $4m entitlement offer

Wiseway Group (ASX:WWG) has launched a four to 25 pro-rata non-renounceable entitlement offer to raise up…
Pursuit Minerals (ASX:PUR) - Managing Director, Bob Affleck

" Pursuit Minerals (ASX:PUR) sells Scandinavian projects for $3m

Pursuit Minerals (ASX:PUR) has settled the sale of its nickel and vanadium projects in Norway, Sweden…
Payright (ASX:PYR) - Joint CEOs, Piers Redward (left) and Myles Redward (right)

" Payright (ASX:PYR) settles “transformational” funding package to pursue growth

Payright (ASX:PYR) completes its settlement of funding package, comprising a $125 million warehouse facility led by…
X2M Connect (ASX:X2M) - Chief Operating Officer, Keith Jelley

" X2M Connect (ASX:X2M) wins three contracts in South Korea

X2M Connect (ASX:X2M) has won three new contracts in South Korea for remote water monitoring and…