Red 5 Limited announced that the King of the Hills (KOTH) Gold Mine produced 19,039 ounces of gold in May 2023, marking the third consecutive month of record gold production.
KOTH completed planned mill and crusher maintenance shutdowns in May, as previously announced. These shutdowns were successful, resulting in four days of no mill output throughout the month. Replacement of the crusher’s mantle and concave liners, replacement of the mill’s original discharge grates with 9 times bigger grates, and replacement and reinforcement of significant wear areas were all part of the work.
The open pit and underground mines continued to operate well during the month, with an anticipated 560kt of ore grading 1.2 g/t at the end of May 2023.
The production projection for the second half of the fiscal year 2023 remains at 90,000 – 105,000 ounces at an AISC of A$1,750 – A$1,950 per ounce.
