Red 5 (ASX: RED) – develop the KOTH mine

ABOUT COMPANY

Red 5 (RED) (https://www.red5limited.com) develops the King Of The Hill mine located in the Eastern Goldfields of Western Australia.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
RED	0.43	3462189250	2343313	1489749002.09	(14.6)/(126)


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
11039	70.36%		1.06%	54686122	last raise $90m@13.5c; pre raise $66m@16c

The company hedged 338,684oz at an average price of $2,510, including 108k oz for FY24 at sub $2,300, so would be at loss.

In September 2023, SLR took a 11% position on market.

FLAGSHIP ASSETS

King Of The Hill (KOTH) Project Leonora WA

ASX RED Red 5 projects location

Project Data

The 4.7Mtpa mill was completed for $226m, the company plans to expand the throughput capacity to 5.5Mtpa in FY24. The first gold was achieved on 5 June 2022.

Below is the mine’s staging plan:

Below are the company’s reserves 2023:

SUMMARY

The company will make no money before FY25.