Red 5 on target

RED 5 has made solid progress in ramping up its Darlot operations in Western Australia over the past three months, while highlighting that near-mine exploration suggests the mature mine is far from being at the end of its life.

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Drilling at King of the Hill.

The operation hit a new production record last month with an annualised milling rate of 1.1 million tonnes per annum, above nameplate of 830,000tpa. Steady-state throughput was 1Mtpa.
The miner produced 18,719 ounces for the quarter, within guidance, with all-in sustaining costs of A$1496/oz for the quarter - higher than would be usual given the development costs for the King of the Hills development.
Costs are expected to climb further this quarter to between $1610-$1790/oz, partially offset by better production of 23,000-26,000oz, but by the December quarter the outlook is for lower costs and even higher production as a new mine design allows access to the newly-delineated high-grade Oval West deposit within the Darlot...