Stock Exchange Listing: ASX: RED
Company Data: 762,529,493 shares @ 0.063 ( 24/2/2017): $48,039,358
Stage of Production: Producer
Red 5 Limited is listed on the Australian Securities Exchange (ticker RED).
The Company’s main project is the Siana open pit gold mine located in the Philippines. Development has commenced on an underground mine at Siana which is expected to have a mine life of at least 9 years and exploration drilling has commenced on a number of key targets within the Philippine tenements.
The Company boasts a strong institutional shareholder base.
Plans and Latest Developments:
The company is transitioning from open pit mining to underground mining. The open pit has approximately 12 months of mine life left and the underground has approximately 300 meters of development completed.
Board of Directors:
- Kevin Dundo
- Ian Macpherson
- John Loosemore
- Mark Williams
- Franklin Resources, Inc
- Ruffer LLP
- Matchpoint Asia Fund Limited
- Acorn Capital Limited
What are you looking to achieve at Mines and Money?
A successful transition to underground operations ensure the project has an 8 to 10 year mine life at a high margin compared to current gold price. In addition the company hold exciting exploration tenements with a strong possibility of developing other mines and supplementing ore feed to the Siana mill. A significant rerating of the company may occur once the underground operations commence.
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