SURFACE

KOTH mines keep delivering

A SOLID performance from all three mines at the King of the Hills gold project helped Red 5 achieve 53,017 ounces of gold production in the December quarter, from 1.24 million tonnes of ore.

 King of the Hills pillar

King of the Hills pillar

The ore was processed at an average head grade of 1.45 grams per tonne gold at a recovery of 91.2%.

Located in Western Australia's eastern Goldfields, KOTH includes both an open pit and underground mine plus Darlot underground.

In a statement to the Australian Securities Exchange, Red 5 said production for the first half of financial year 2024 was 108,026oz.

"The strong December quarter performance marks the third successive quarter of production above 50,000oz," the company said.

"The first half performance puts the company firmly on track to achieve the upper end of its FY24 production guidance of 195,000-215,000oz."

Red 5 said all three KOTH mines continued to perform well for the quarter, delivering the expected tonnes and grade.

The process plant achieved an annualised throughput run rate of 6.1Mt per annum between November 18 and December 31, the company said, following extended maintenance shutdowns in October and November.

Total gold sales reached 53,087 ounces in the quarter at an average realised price of $2619 per ounce.

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