Sign up Australia
Proactive Investors - Run By Investors For Investors

Red 5 achieves first commercial gold production at Siana in the Philippines

Red 5 achieves first commercial gold production at Siana in the Philippines

Perth-based Red 5 (ASX: RED) has reached the milestone of commercial gold production having achieved 30 continuous days at 60% of the 750,000 dry tonnes per annum throughput at its Siana mine in Surigao del Norte in the Philippines.

The company has so far realised revenues of US$3.3 million from three shipments totalling 562 kilograms of gold-silver dore to the Metalor refinery in Geneva.

The average throughput during the 30 day period was the equivalent of 506,000 dry tonnes per annum, 67% of nameplate production, with a maximum day rate equivalent to 2,823 dry tonnes.

Plant availability during this period averaged 91.6%, with downtime typically due to minor repairs to the MMD sizer.

Gold recovery averaged 77.2% from a head grade of 2.5 grams per tonne (g/t). The gold recovery is 3.2% lower than estimated, however as higher grades are milled during the ramp-up stage recoveries will increase.

Red 5 is now working towards achieving an interim mill throughput rate of 750,000 tonnes per annum over the next few months.

 

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

View full RED profile View Profile

Red 5 Ltd Timeline

Newswire
December 31 2012

Related Articles

Picture of drill rig
May 03 2018
The Strickland project covers over 100 strike kilometres of greenstone belts and straddles the Evanston and Yuinmery Shear Zones.
miners
February 06 2018
Coro Mining is on the move in Chile, with feasibility work nearing completion and new ground to work on
graphite
January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use