- Despite recent labour shortages at its nearby Darlot Gold Mine, work at Red 5’s (RED) King of the Hills Project appears to be moving ahead smoothly
- Following a major round of financing in March, the company has been ramping up construction at the site
- These activities include the building of carbon-in-leach tanks, which are expected to reach full height by mid-August
- The Western Australian Department of Environment and Water Regulation has also granted approval to begin constructing the site’s power station
- The company expects to pour first gold from the 2.4-million-ounce project in the June quarter of next year
- Red 5 shares are down 2.94 per cent, trading at 16.5 cents apiece
Despite recent labour shortages at its nearby Darlot Gold Mine, work at Red 5’s (RED) King of the Hills Project appears to be moving ahead smoothly.
On track and within budget, work to start production began in earnest earlier this year, following a green tick from the Department of Mines, Industry Regulation and Safety.
On the back of a major round of financing in March, the company has been ramping up construction at the site. These activities include the construction of carbon-in-leach tanks, which are now expected to reach full height by mid-August.
Dawn photo of the processing plant and CIL tanks under construction. Source: Supplied.
The Western Australian Department of Environment and Water Regulation has also granted approval to begin constructing the site’s power station.
Steel to feed the construction ramp-up has begun arriving on site, and shipping containers filled with materials and equipment bound for the site are currently lining up to unload in the port of Fremantle.
Also notable, the King of the Hill Village, which will house workers when the site is operational, is now being used by the onsite construction crews.
With work progressing on track, the company expects to pour first gold from the 2.4-million-ounce project in the June quarter of next year.
Red 5 Managing Director Mark Williams said solid progress has been made since the company’s last update to shareholders in early May.
“Construction activities continue to advance, gaining good momentum, with the construction of the CIL tanks for the processing circuit rapidly advancing,” he said.
“It’s also great to see structural steel now beginning to arrive at site and key items of imported equipment, including the steel liners for the SAG Mill and the SAG Mill pinions, motors, bearings and lubrication skids arriving in Fremantle.”
Red 5 shares are down 2.94 per cent, trading at 16.5 cents apiece at 11:48 am AEST.