Sign up Australia
Proactive Investors - Run By Investors For Investors

Red 5 provides maiden gold production guidance for 2018

Red 5 has provided gold production guidance for 2018 of circa 90,000 ounces.
Picture of gold being poured
Exploration activity in 2018 could lead to increases in resources and production

Red 5 Limited (ASX:RED) has established a Maiden JORC 2012 Mineral Resource of 895,000 ounces and a Maiden Ore Reserve of 131,000 ounces at its Darlot Gold Mine.

Both the Darlot mine and the company’s King of the Hills Gold Project (KOTH) are situated in the Eastern Goldfields region of Western Australia.

The establishment of a Maiden Resource at Darlot represents another milestone in the company’s Eastern Goldfields consolidation strategy.

This development has enabled management to provide its first production guidance outlook for its Australian operations for calendar year 2018.

The company is forecasting production in a range between 85,000 ounces and 95,000 ounces.

December quarter production to be at the upper end of guidance

Together with previously reported KOTH Mineral Resources, this increases the company’s Measured, Indicated and Inferred gold resource in the Eastern Goldfields to 1.3 million ounces.

Red 5 also confirmed that the company was on track to deliver December quarter production at the upper end of guidance which was in a range between 13,000 ounces and 16,000 ounces.

Increased resource partly attributed to inclusion of mineralisation from new zones

The increase in ounces compared with estimates determined by the previous owner, SAMREC, can be attributed to a variety of factors.

The company was also able to include extensions of existing mining areas that were previously deemed to have been uneconomical for large miners.

Mineralisation is open in various directions and at depth.

Exploration activity planned for 2018 could result in resource expansion at both projects, suggesting there is the prospect of further catalysts emerging over the next 12 months.

View full RED profile View Profile

Red 5 Ltd Timeline

Newswire
December 31 2012

Related Articles

Picture of territory at Piedmont Lithium Project
April 30 2018
The company has acquired 630 acres in four separate transactions between September 2017 and March 2018.
graphite
January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.
Picture of drill rig on site
May 08 2018
The company's ability to extract 99.48% purity vanadium and 99.5% purity titanium sparked significant interest in the group.

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