Red 5 Ltd at Vertical Events RIU Explorers Conference Transcript
Red 5 has two gold mines in the Eastern Goldfields of Western Australia: Darlot and King of the Hills. Over the next 15 minutes, let me share with you the Red 5 story and how Red 5 is emerging to be Australia's next mid-tier gold producer.
It was in 2017, that Red 5 for these two assets for a total of $34.5 million. Since then we haven't looked back. We are currently spending $226 million at King of the Hills to get the project to become a Tier 1 gold mine. With the first gold pour due next quarter. Once this pour has been completed, King of the Hills will rate as a top 10 largest endowed gold mine in Australia, with a mineral resource of 4.1 million ounces. And an ore reserve of 2.4 million ounces. And quite amazingly, it's open in all directions.
Many of you may remember Red 5 and our history as we started in the Philippines. We have transitioned away from the Philippines with the sale of the Siana Gold Project. Whilst we still maintain a lucrative royalty, we have been able to put the sale assets into strengthening our balance sheet as
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