Red 5 loss shrinks

A SOARING gold price, now sitting above US$1500 per ounce, has enabled Western Australian Red 5 to generate significant revenue from its mines of A$151.5 million, but development of its Darlot and King of the Hills mines meant the company still delivered a net loss of $3 million.

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Red 5's loss has shrunk dramatically.

It is a significant improvement on its loss of almost $12 million 12 months year, and comes as the company is looking to significant growth options for KOTH, with feasibility studies advancing for an