Red 5 Limited has reported that the King of the Hills (KOTH) Gold Mine produced 18,633 ounces of gold in April 2023, marking the second consecutive month of record gold production.
In April 2023, KOTH produced 18,633 ounces from 0.40Mt of ore processed at an average head grade of 1.54g/t with a gold recovery rate of 94.2%.
According to Red 5, the open pit and underground mines, as well as the processing facility, continued to function well during the month, with an expected 450kt of ore grading 1.2 g/t to 1.3 g/t by the end of April 2023. May is forecast to be another good month for mining, but gold production will be lower than in April due to previously announced maintenance shutdowns on the crusher and mill.
Construction of Tailings Storage Facility 5 (TSF5) was finished in April 2023, with final regulatory approval granted and discharge to TSF5 achieved on 29 April 2023.
The production projection for the second half of FY2023 remains at 90,000 – 105,000 ounces at an AISC of A$1,750 – A$1,950 per ounce.
