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Red5 says Siana mine’s FY output to exceed 21 000 oz

24th June 2015

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Red5 reported on Wednesday that the recomissioning of the processing plant at  its Siana gold mine, in the Philippines, was progressing well and that its gold production for the June 2015 financial year would exceed 21 000 oz.

Since the restart of operations in January, the company has recovered 17 689 oz of gold, with about 230 781 t of ore being processed to date. The average grade and recovery rate of the ore is 2.8 g/t and 85%, respectively.

The company has sold 16 130 oz of gold since the end of May.

Red5 also reported that a review of its future mining strategy for the openpit operation continued. The outcomes of the review would be published by the September quarter and would form the basis of the company’s strategy for the next stage of development and mining of the Siana project.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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