Red 5’s operations are located in Western Australia’s Eastern Goldfields Region, one of the world’s most attractive gold regions. Red 5 is currently mining underground at the Darlot gold mine and open pit mining at the Great Western satellite mine, with ore from both locations processed centrally at the Darlot Processing Plant.
Red 5 completed a Final Feasibility Study in September 2020 for a proposed new 4Mtpa bulk open pit and underground mining and processing operation at King of the Hills. This Study delivered a 2.4Moz Ore Reserve, underpinning an initial 16-year mine life and average production of 176kozpa in the first seven years. On an Ore Reserve basis, King of the Hills ranks the 9th largest gold mine in Australia.
King of the Hills is currently under construction for an estimated cost of $226 million. First gold is expected in the June Quarter 2022.
Upon commencement of processing at King of the Hills in 2022, Red 5 intends to truck ore from the Darlot Gold Mine to King of the Hills processing plant as part of its long-term KOTH Hub Strategy.
Red 5’s long-term strategy is to grow to be a well-established and respected mid-tier Australian gold producer with multiple options to expand and develop.