https://www.miningweekly.com

Red 5 hits revised targets

23rd April 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior gold miner Red 5 has reached its revised production targets during the three months ending March, with some 12 929 oz of gold recovered.

Red 5 in early March lowered its quarterly production expectations following operational issues at its Darlot mill, in Western Australia.

The company lowered its production expectations to between 12 000 oz and 15 000 oz, from an initial guidance of between 16 000 oz and 19 000 oz, on the back of issues relating to the gear and clutch on Mill 1 at the Darlot mill.

Gold sales during the March quarter reached 12 639 oz, compared with the 16 150 oz sold in the previous quarter.

“After making a strong start as a West Australian gold producer last quarter, the March quarter marked the beginning of an important transitional period for the business as we started to implement our broader growth plan in the Eastern Goldfields,” said Red 5 MD Mark Williams on Monday.

“The start of underground mining at the King of the Hills mine is the first step in this broader strategy, and we expect to see a growing contribution from this mine towards our overall production profile in the coming months.

“This has necessitated the investment to restart operations, mine development and exploration to set the business up for the future,” Williams added.

Gold recovery in the June quarter is expected to reach between 18 000 oz and 23 000 oz, while full-year production has remained unchanged at between 85 000 oz to 95 000 oz.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.13 0.167s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: