Red 5 Ltd (ASX:RED)’s Patrick Duffy highlights the start of ore processing at the King of the Hills project with Proactive’s Joel Flynn, where the company is about to begin first ore production.
Red 5 is targeting nameplate production of 4.7 million tonnes per annum, supported by a 16-year life of mine and a 2.4-million-ounce ore reserve, expected to have all-in sustaining costs (ASIC) of A$1,339 per ounce for the first six years.
The company expects first pour to occur in the next couple of weeks, fed by existing stockpiles with more on the way from an open pit and underground mine.